Annual report pursuant to Section 13 and 15(d)

Statement of Cash Flows

v3.21.1
Statement of Cash Flows
 10 Months Ended
Dec. 31, 2020
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (408,237)
Adjustments to reconcile net loss to net cash used in operating activities:  
Interest earned on investments held in Trust Account (219,337)
Changes in operating assets and liabilities:  
Prepaid expenses (113,562)
Security deposit (329)
Accounts payable and accrued expenses 239,532
Income taxes payable 11,509
Net cash used in operating activities (490,424)
Cash Flows from Investing Activities:  
Investment of cash into Trust Account (350,000,000)
Net cash used in investing activities (350,000,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units, net of underwriting discounts paid 343,900,000
Proceeds from sale of Private Placement Warrants 8,100,000
Proceeds from promissory note – related party 32,378
Repayment of promissory note – related party (186,165)
Payment of offering costs (405,252)
Net cash provided by financing activities 351,440,961
Net Change in Cash 950,537
Cash – Beginning of period
Cash – End of period 950,537
Non-Cash financing activities:  
Initial classification of Class A common stock subject to possible redemption 333,288,890
Change in value of Class A common stock subject to possible redemption (406,170)
Deferred underwriting fee payable 13,150,000
Offering costs paid directly by Sponsor in consideration for the issuance of Class B common stock 25,000
Offering costs paid through promissory note – related party $ 153,787