Financial Performance - As of March 31, 2023, the Company reported a net income of $1,618,630, primarily from $2,105,252 in realized and unrealized gains on marketable securities, offset by various expenses totaling $385,576[90]. - The Company had cash of $251,927 and a working capital deficit of $(334,671) as of March 31, 2023, compared to cash of $224,474 and a working capital of $151,951 as of December 31, 2022[91]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $189,750,000 from the sale of 18,975,000 units at $10.00 per unit, including an over-allotment option[85]. - A total of $191,647,500 from the IPO proceeds was placed in a U.S.-based trust account, with $2,250,000 deposited to the Company's operating account[88]. - The underwriter of the IPO is entitled to a deferred discount of $6,641,250, payable only upon the completion of a Business Combination[95]. Operations and Future Outlook - The Company has not commenced any operations and will not generate operating revenues until after completing a Business Combination[84]. - The Company has incurred significant costs in pursuit of financing and acquisition plans, raising doubts about its ability to continue as a going concern within one year from the issuance of financial statements[93]. Financing Activities - The Company completed a private sale of 7,942,500 private placement warrants, generating gross proceeds of $7,942,500[87]. - The Company has no long-term debt or capital lease obligations as of March 31, 2023[94]. Internal Controls - The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective as of March 31, 2023[101].
CSLM Acquisition Corp.(CSLMU) - 2023 Q1 - Quarterly Report