Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 8,485,910 $ 2,318,578
Adjustment to reconcile net income to net cash used in operating activities:    
Income from investments held in Trust Account (4,004,716) (20,384)
Change in fair value of derivative warrant liabilities (5,713,000) (4,728,000)
Change in fair value of working capital loan - related party 800  
Offering costs - derivative warrant liabilities   590,295
Changes in operating assets and liabilities:    
Prepaid expenses 197,500 (205,776)
Accounts payable (58,116) 588,577
Accrued expenses 517,614 84,407
Deferred legal fees 8,210 168,772
Net cash used in operating activities (565,798) (1,203,531)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account   (287,500,000)
Net cash used in investing activities   (287,500,000)
Cash Flows from Financing Activities:    
Payment of note payable to related party   (78,625)
Proceeds received from initial public offering, gross   287,500,000
Proceeds received from private placement   8,000,000
Offering costs paid (75,000) (6,155,498)
Proceeds received from related party working capital loan 100,000  
Net cash provided by financing activities 25,000 289,265,877
Net change in cash (540,798) 562,346
Cash - beginning of the year 562,346 0
Cash - end of the year $ 21,548 562,346
Supplemental disclosure of noncash financing activities:    
Offering costs included in accrued expenses   75,000
Offering costs paid by related party under note payable   35,000
Deferred underwriting commissions   $ 10,062,500