Financial Performance - The company generated gross proceeds of $345.0 million from its Initial Public Offering of 34,500,000 units at $10.00 per unit, incurring offering costs of approximately $19.18 million[55]. - The fair value of the securities transferred from Level 2 to Level 1 measurement during the year ended December 31, 2022 was $348,810,523[50]. - The company has 14,891,667 warrants issued in connection with its Initial Public Offering and Private Placement, recognized as derivative warrant liabilities[57]. - The share price at March 31, 2023 was $10.32, compared to $10.10 at December 31, 2022, reflecting a 2.2% increase[51]. - The risk-free rate increased to 4.88% at March 31, 2023, up from 4.54% at December 31, 2022[51]. Business Strategy - The company aims to ensure that the Available Acquiror Cash equals or exceeds $100,000,000 prior to the closing of the Business Combination[46]. - The company has committed to using reasonable best efforts to complete the Business Combination as approved by the Board[45]. Regulatory Compliance - The company is classified as a non-accelerated filer and an emerging growth company, allowing it to rely on reduced reporting requirements under the JOBS Act[60]. - There were no transfers in or out of Level 3 from other levels in the fair value hierarchy during the three months ended March 31, 2023[50]. - The company did not identify any subsequent events that would require adjustment or disclosure in the unaudited condensed consolidated financial statements[53].
plete Solaria(CSLR) - 2023 Q1 - Quarterly Report