Annual report pursuant to Section 13 and 15(d)

STATEMENT OF CASH FLOWS

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STATEMENT OF CASH FLOWS
 9 Months Ended
Dec. 31, 2021
USD ($)
Cash flow from Operating Activities:  
Net loss $ (304,023)
Adjustments to reconcile net loss to net cash used in operating activities:  
Interest earned on marketable securities held in Trust Account (1,214)
Changes in fair value of Warrant Liability (793,125)
Transaction costs allocated to Warrant Liability 713,600
Changes in operating assets and liabilities:  
Prepaid expenses (1,151,315)
Accounts Payable and Accrued Expenses 310,932
Net cash used in operating activities (1,225,145)
Cash flow from Investing Activities:  
Investment of cash in Trust Account (291,812,500)
Net cash used in investing activities (291,812,500)
Cash flows from Financing Activities:  
Proceeds from sale of SAILSM securities, net of underwriting discounts paid 281,750,000
Proceeds from sale of private placement warrants 12,062,500
Net cash provided by financing activities 293,812,500
Net change in cash 774,855
Cash — Beginning of Period
Cash — End of Period 774,855
Non-Cash investing and financing activities  
Offering costs included in accounts payable and accrued expenses 1,464,383
Deferred offering costs paid by Sponsor in exchange for issuance of Class B shares 25,000
Deferred offering costs paid by Sponsor on behalf of ST Energy 191,258
Re-measurement of Class A shares to redemption value (32,017,041)
Deferred underwriting fee payable 10,062,500
Initial measurement of warrants issued in connection with the initial public offering accounted for as liabilities $ 20,092,500