Financial Performance - The company incurred a loss from operations of $89,565 for the period from January 11, 2021, to March 31, 2021, including insurance expenses of $25,841 and general operation expenses totaling $63,724[105]. - The company recognized other net income of $432,119, which included an unrealized gain on warrant liability of $960,000[105]. - The company has not generated any realized revenues other than interest income earned on the proceeds held in the Trust Account[105]. Assets and Securities - As of March 31, 2021, the company held $300,000,501 in marketable securities within the Trust Account, consisting of money market funds[110]. - As of March 31, 2021, the company had cash outside the Trust Account amounting to $2,276,205 available for working capital needs[107]. Public Offering and Costs - The company generated gross proceeds of $300,000,000 from the sale of 30,000,000 units at $10.00 per unit during the Public Offering[108]. - The company incurred $17,279,370 in Initial Public Offering related costs, including $6,000,000 in underwriting fees[109]. Financial Obligations - The company has no long-term debt, capital lease obligations, or operating lease obligations as of March 31, 2021[117]. - The company has not entered into any off-balance sheet financing arrangements or established any special purpose entities[115]. Future Intentions - The company intends to use substantially all funds held in the Trust Account to acquire a target business and pay related expenses[112].
Plum Acquisition I(PLMI) - 2021 Q1 - Quarterly Report