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Financial report summary
?Management Discussion
- Our entire activity from March 19, 2021 (inception) through December 31, 2023 was in preparation for 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.
- For the year ended December 31, 2023, we had a net income of approximately $9.5 million, which consisted of a non-cash gain of approximately $2.7 million for the change in fair value of derivative warrant liabilities and approximately $9.4 million of income from investments held in the Trust Account, partly offset by approximately $2.5 million in general and administrative expenses, and $120,000 in administrative expenses-related party.
- For the year ended December 31, 2022, we had a net income of approximately $29.2 million, which consisted of a non-cash gain of approximately $26.3 million for the change in fair value of derivative warrant liabilities, $50,000 in change in fair value of Working Capital Loan-related party and approximately $4.2 million of income from investments held in the Trust Account, partly offset by approximately $1.1 million in general and administrative expenses, and $240,000 in administrative expenses-related party.