Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 17,691,841 $ 1,320,429
Adjustments to reconcile net income to net cash used in operating activities:    
Income from investments held in Trust Account (6,068,411) (23,891)
Change in fair value of derivative warrant liabilities (15,799,800) (3,923,200)
Gain from extinguishment of deferred underwriting commissions allocated to derivative warrant liabilities (295,596)  
Financing cost - derivative warrant liabilities   821,170
Changes in operating assets and liabilities:    
Prepaid expenses 282,613 (309,283)
Accounts payable (5,188) 59,689
Accounts payable - related party 180,000 165,000
Accrued expenses 3,135,865 903,825
Net cash used in operating activities (878,676) (986,261)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account   (414,000,000)
Cash used in investing activities   (414,000,000)
Cash Flows from Financing Activities:    
Proceeds from working capital loan - related party 500,000  
Proceeds received from initial public offering, gross   414,000,000
Proceeds from private placement   10,280,000
Repayment of notes payable to related party   (185,116)
Offering costs paid   (8,715,098)
Net cash provided by financing activities 500,000 415,379,786
Net change in cash (378,676) 393,525
Cash - beginning of the period 399,935 6,410
Cash - end of the period 21,259 399,935
Supplemental disclosure of noncash investing and financing activities:    
Offering costs included in accrued expenses   85,000
Offering costs included in notes payable   45,167
Deferred underwriting commissions in connection with the initial public offering   $ 14,490,000
Extinguishment of deferred underwriting commissions allocated to public shares $ 8,398,404