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 income $ 1,285,220
Adjustments to reconcile net income to net cash used in operating activities:  
Change in fair value of warrant liability (1,520,000)
Interest earned on investments held in Trust Account (1,918)
Prepaid expenses (292,552)
Accrued expenses 106,241
Net cash used in operating activities (423,009)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (111,100,000)
Net cash used in investing activities (111,100,000)
Cash Flows from Financing Activities:  
Proceeds from issuance of common stock to Sponsor 25,000
Proceeds from sale of Units, net of underwriting discounts paid 107,800,000
Proceeds from sale of Private Placement Warrants 5,000,000
Proceeds from promissory note – related party 285,392
Advance from Sponsor 450,000
Repayment of Advance from Sponsor (450,000)
Repayment of promissory note – related party (285,392)
Payment of offering costs (519,054)
Net cash provided by financing activities 112,305,946
Net Change in Cash 782,937
Cash – Beginning of period
Cash – End of period 782,937
Non-Cash Investing and Financing Activities:  
Initial classification of common stock subject to possible redemption 86,181,958
Change in value of common stock subject to possible redemption 1,289,203
Initial classification of warrant liability 17,270,000
Change in value of warrant liability (1,520,000)
Deferred underwriting fee payable $ 3,850,000