Financial Performance - For the three months ended March 31, 2022, the company reported a net income of $6,650,368, driven by a change in fair value of warrant liabilities of $7,867,560[134]. - Cash used in operating activities for the three months ended March 31, 2022, was $1,868,357, with net income impacted by transaction costs of $378,343[135]. - The company incurred $466,500 in fees for administrative support services for the three months ended March 31, 2022[144]. Capital Raising - Cartica Acquisition Corp completed its IPO on January 7, 2022, raising gross proceeds of $230 million from the sale of 23 million units at $10.00 per unit[127]. - The company also raised an additional $15.9 million through the private sale of 15.9 million warrants at $1.00 each[128]. - A forward purchase agreement with Cartica Investors allows for the subscription of up to 3 million shares at $10.00 per share, totaling $30 million, to be used in the initial business combination[149]. Trust Account and Marketable Securities - As of March 31, 2022, the company held marketable securities in the Trust Account amounting to $237,027,044, including $127,044 in interest income[137]. - The company intends to use substantially all funds in the Trust Account to complete its business combination and for working capital of the target business[137]. Business Combination Timeline - The company has until July 7, 2023, to complete a business combination, with the possibility of extending this deadline by up to 24 months[132]. Financial Position and Accounting Standards - The company has no off-balance sheet arrangements or obligations as of March 31, 2022[143]. - The fair value of financial assets and liabilities is determined using a hierarchy that includes Level 1, Level 2, and Level 3 inputs[152]. - The company is currently assessing the impact of ASU 2020-06, effective for fiscal years beginning after December 15, 2023, on its financial position[156]. - Management does not believe that any recently issued accounting standards will have a material effect on the condensed financial statements[157]. Warrants - As of March 31, 2022, the company had 27,400,000 warrants issued and outstanding[153].
Cartica Acquisition p(CITE) - 2022 Q1 - Quarterly Report