Financial Performance - For the three months ended March 31, 2022, the company reported a net loss of $462,567, with operating costs of $483,009 and interest income of $20,442 from marketable securities [106]. - As of March 31, 2022, there is substantial doubt about the company's ability to sustain operations for at least one year from the issuance of the financial statements [115]. Fundraising Activities - The company raised gross proceeds of $173,912,000 from its Initial Public Offering of 17,391,200 Units, sold at an offering price of $10.00 per Unit [107]. - An additional $7,032,580 was generated from the Private Placement of 7,032,580 warrants at a price of $1.00 per warrant [108]. - Total gross proceeds from the Initial Public Offering and Private Placement amounted to $207,795,642, with $202,998,782 placed in the Trust Account [109]. Cash and Assets - As of March 31, 2022, the company had cash and marketable securities in the Trust Account totaling $203,021,148 [111]. - The company has $918,459 in cash available in its operating account and working capital of $1,072,807 [112]. Debt and Obligations - The company has no long-term debt or off-balance sheet financing arrangements as of March 31, 2022 [116]. - The company is obligated to pay a deferred underwriting commission of $5,999,964 upon consummation of its initial Business Combination [118]. Business Combination Timeline - The company has until 12 months from the closing of the Initial Public Offering to complete its initial Business Combination, with the possibility of extending this period by up to 6 months [114].
InFinT Acquisition (IFIN) - 2022 Q1 - Quarterly Report