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Financial report summary
?Management Discussion
- Our entire activity for the period from March 15, 2021 (inception) through September 30, 2022 was for completion of the Initial Public Offering, and since our Initial Public Offering, our activity has been limited to the search for a prospective Initial Business Combination. We will not generate any operating revenues until the closing and completion of our Initial Business Combination. We generate non-operating income in the form of investment income from our investments held in the Trust Account. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.
- For the nine months ended September 30, 2022, we had net income of approximately $9.2 million, which was primarily comprised of change in fair value derivative warrant liabilities of approximately $8.4 million and dividend income of approximately $1.6 million partially offset by general and administrative expenses of approximately $0.8 million.
- For the period March 15, 2021 (inception) through September 30, 2021, we had net income of approximately $8.5 million, which was primarily comprised of change in fair value derivative warrant liabilities of $10 million partially offset by $1.1 million of warrant related expenses and general and administrative expenses of $0.4 million.