Financial Performance - For the three months ended September 30, 2021, the company reported a loss from operations of $481,907 and a total loss of $1,394,368 since inception [111]. - The company recognized other income of $3,325,655 for the three months ended September 30, 2021, primarily from an unrealized gain on warrant liability of $3,320,750 [111]. - For the nine months ended September 30, 2021, cash used in operating activities was $1,877,420, with net income of $5,265,141 primarily offset by an unrealized gain on warrant liability [120]. Trust Account and Cash Position - As of September 30, 2021, the company held $319,226,549 in the Trust Account, with cash outside the Trust Account amounting to $368,210 [111]. - The company intends to use substantially all funds held in the Trust Account to acquire a target business and cover related expenses [121]. Public Offering and Costs - The company generated gross proceeds of $319,216,340 from the sale of 31,921,634 units at $10.00 per unit during its Public Offering [116]. - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 in underwriting fees [118]. Debt and Financial Commitments - As of September 30, 2021, no Working Capital Loans have been issued, but the company has commitments from sponsors and affiliates for potential loans [122]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2021 [125]. Accounting Standards - The company adopted ASU 2020-06 effective January 1, 2021, which did not impact its financial statements [133].
Plum Acquisition I(PLMI) - 2021 Q3 - Quarterly Report