Financial Performance - For the three months ended June 30, 2022, the company reported a net loss of $983,499, with operating costs of $1,257,618 and interest income of $274,119 from marketable securities[108]. - For the six months ended June 30, 2022, the company had a net loss of $1,446,066, consisting of operating costs of $1,740,627 and interest income of $294,561[108]. Assets and Securities - As of June 30, 2022, the company held marketable securities in the Trust Account amounting to $203,295,267, primarily in a money market fund and government bonds[115]. - The company generated total gross proceeds of $207,795,642 from its IPO and private placement, with $199,998,800 raised in the IPO alone[112]. - The company has $776,483 in cash available in its operating account and a working capital deficit of $184,811 as of June 30, 2022[116]. Obligations and Debt - The company is obligated to pay a deferred underwriting commission of $5,999,964 upon consummation of its initial business combination[123]. - The company has not incurred any long-term debt or off-balance sheet financing arrangements as of June 30, 2022[121]. Business Combination and Operations - The company has until 12 months from the closing of the IPO to complete its initial business combination, with the possibility of extending this period by up to six months[118]. - The company expects to continue incurring significant costs in pursuit of a business combination, raising doubts about its ability to sustain operations for at least one year from the issuance of the financial statements[119]. - The company does not expect to generate any operating revenues until after the completion of its business combination[120].
InFinT Acquisition (IFIN) - 2022 Q2 - Quarterly Report