Registration of securities issued in business combination transactions

Unaudited Condensed Statements of Cash Flows

v3.23.3
Unaudited Condensed Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:        
Net (loss) income $ (1,238,844) $ 4,297,675 $ 8,485,910 $ 2,318,578
Adjustment to reconcile net income to net cash used in operating activities:        
Income from cash and investments held in Trust Account (1,585,936) (137,369) (4,004,716) (20,384)
Change in fair value of derivative warrant liabilities 98,500 (4,826,500) (5,713,000) (4,728,000)
Change in fair value of working capital loan – related party (800) 800
Stock Compensation Expense 1,701,444    
Offering costs – derivative warrant liabilities       590,295
Changes in operating assets and liabilities:        
Prepaid expenses (22,895) 22,916 197,500 (205,776)
Accounts payable 304,788 (32,081) (58,116) 588,577
Accrued expenses 282,979 217,093 517,614 84,407
Deferred legal fees 8,210 8,210 168,772
Net cash used in operating activities (460,764) (450,056) (565,798) (1,203,531)
Cash Flows from Investing Activities:        
Cash withdrawn from Trust Account in connection with redemption 271,939,156    
Cash deposited in Trust Account     (287,500,000)
Net cash used in investing activities 271,939,156 (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
Redemption of Class A ordinary shares (271,939,156)    
Proceeds from issuance of working capital loan to related party 545,000    
Offering costs paid (75,000) (75,000) (6,155,498)
Proceeds received from related party working capital loan     100,000
Net cash used in financing activities (271,394,156) (75,000) 25,000 289,265,877
Net change in cash 84,236 (525,056) (540,798) 562,346
Cash – beginning of the period 21,548 562,346 562,346
Cash – end of the period $ 105,784 $ 37,290 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