Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (312,767)
Adjustments to reconcile net loss to net cash used in operating activities:  
Interest earned on marketable securities held in Trust Account (10,562)
Change in fair value of warrant liability (402,250)
Transaction costs incurred in connection with IPO 536,079
Changes in operating assets and liabilities:  
Prepaid expenses (615,637)
Accrued expenses 115,483
Net cash used in operating activities (689,654)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (258,750,000)
Cash withdrawn from Trust Account to pay for franchise and income taxes 0
Net cash used in investing activities (258,750,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units, net of underwriting discounts paid 253,575,000
Proceeds from sale of Private Placement Warrants 7,175,000
Repayment of promissory note - related party (150,000)
Payment of offering costs (313,613)
Net cash provided by financing activities 260,286,387
Net Change in Cash 846,733
Cash - Beginning of period 107,601
Cash - End of period 954,334
Non-Cash Investing and Financing Activities:  
Offering costs included in accrued offering costs 55,212
Initial classification of warrant liability 14,481,000
Initial classification of Class A common stock subject to possible redemption 246,278,570
Change in value of Class A common stock subject to possible redemption (14,257,692)
Deferred underwriting fee payable $ 9,056,250