Registration of securities issued in business combination transactions

Condensed Statement of Cash Flows (Unaudited)

v3.21.1
Condensed Statement of Cash Flows (Unaudited) - USD ($)
 2 Months Ended 3 Months Ended 11 Months Ended
Mar. 31, 2020
Mar. 31, 2021
Dec. 31, 2020
Statement of Cash Flows [Abstract]      
Net loss $ (2,000) $ (4,082,000) $ (11,912,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Income earned on the Trust Account   (19,000) (79,000)
Cost of warrant issuance included in financing activities     (390,000)
Change in fair value of warrant liability   2,646,000 (10,571,000)
Changes in operating assets and liabilities:      
Increase in prepaid expenses and other assets   (9,000) (184,000)
Increase in accounts payable and accrued liabilities 12,000 749,000 677,000
Increase in accrued income and franchise taxes and rounding   (34,000) 83,000
Net cash (used in) provided by operating activities 10,000 (749,000) (454,000)
Cash flows from investing activities: Cash deposited in Trust Account (172,500,000)
Cash flows from financing activities:      
Proceeds from sale of stock to Sponsor 25,000 30,000
Proceeds from Note payable to Sponsor 7,000 47,000
Proceeds from sale of Public Offering Units     172,500,000
Proceeds from sale of Private Placement Warrants     5,700,000
Payment of underwriting discounts     (3,450,000)
Payment of offering costs (42,000) (498,000)
Payment of Note payable to Sponsor     (47,000)
Net cash provided by financing activities (10,000) 174,282,000
Net increase in cash   (749,000) 1,328,000
Cash at beginning of period 1,328,000
Cash at end of period   579,000 1,328,000
Supplemental disclosure of non-cash financing activities:      
Deferred underwriting compensation     6,038,000
Class A common stock subject to possible redemption – initial value     152,368,000
Initial classification of warrant liability     10,948,000
Offering costs included in accounts payable and accrued liabilities $ 10,000  
Change in value of Class A common stock subject to redemption   $ 4,082,000 $ (11,594,000)