Registration of securities issued in business combination transactions

Consolidated Statements of Cash Flows

v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net (loss) income $ (5,276,469) $ 8,485,910
Adjustment to reconcile net (loss) income to net cash used in operating activities:    
Income from cash and investments held in Trust Account (2,064,972) (4,004,716)
Change in fair value of derivative warrant liabilities 197,000 (5,713,000)
Change in fair value of working capital loans – related party (800) 800
Stock compensation expense 3,483,444
Gain from extinguishment of deferred underwriting commissions (362,250)
Changes in operating assets and liabilities:    
Prepaid expenses 19,605 197,500
Accounts payable 1,841,895 (58,116)
Accrued expenses 1,458,081 517,614
Deferred legal fees 8,210
Net cash used in operating activities (704,466) (565,798)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account in connection with redemption 273,410,361
Net cash provided by investing activities 273,410,361
Cash Flows from Financing Activities:    
Proceeds from issuance of working capital loans to related party 722,500
Redemption of Ordinary shares (273,410,361)
Offering costs paid (75,000)
Proceeds received from related party working capital loans 100,000
Net cash (used in) provided by financing activities (272,687,861) 25,000
Net change in cash 18,034 (540,798)
Cash – beginning of the year 21,548 562,346
Cash – end of the year 39,582 21,548
Supplemental disclosure of noncash financing activities:    
Forgiveness of deferred underwriting fee payable allocated to Class A ordinary shares 9,700,250
Accounts payable paid by the Sponsor $ 20,930