Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF CASH FLOWS

v3.21.1
STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (2,398,841) $ 5,094,479
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
General and administrative expenses paid by related party 0 2,206
Gain on marketable securities, dividends and interest held in Trust Account (1,201,382) (3,322,448)
Loss (gain) on revaluation of warrant liability 2,278,750 (2,666,250)
Changes in operating assets and liabilities:    
Prepaid expenses 15,654 (101,988)
Accounts payable 284,630 79,620
Accrued expenses 405,711 (87,694)
Net cash used in operating activities (615,478) (1,002,075)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account   (287,500,000)
Net cash used in investing activities   (287,500,000)
Cash Flows from Financing Activities:    
Proceeds from note payable to related party   250,000
Repayment of note payable and advances from related party   (252,206)
Proceeds received from initial public offering   287,500,000
Proceeds from private placement   7,750,000
Offering costs paid   (5,151,990)
Net cash provided by financing activities   290,095,804
Net change in cash (615,478) 1,593,729
Cash - beginning of period 1,589,795 25,000
Cash - end of period 974,317 1,618,729
Supplemental disclosure of noncash activities:    
Offering costs included in accrued expenses 0 85,000
Offering costs included in accounts payable $ 0 2,600
Remeasurement of ordinary shares subject to possible redemption   26,789,590
Deferred underwritting commissions   $ 9,187,500