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New words:
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Financial report summary
?Management Discussion
- Our entire activity for the period from October 19, 2020 (inception) through December 31, 2022 relates to our formation, the initial public offering (“Initial Public Offering”), and since closing of the Initial Public Offering, our search for a prospective initial Business Combination. We will not generate any operating revenues until after the completion of a Business Combination, at the earliest. We generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.
- For the three months ended December 31, 2022, we had net income of approximately $7.2 million, which consisted of approximately $6.0 million gain change in fair value of derivative warrant liabilities and approximately $4.2 million in gain on investments held in Trust Account, offset by approximately $3.1 million in general and administrative expenses.
- For the three months ended December 31, 2021, we had net loss of approximately $9.4 million, which consisted of approximately $7.0 million change in fair value of derivative warrant liabilities and approximately $2.4 million in general and administrative expenses, offset by approximately $12,000 in gain on investments held in Trust Account.