Financial Performance - For the three months ended June 30, 2022, the company reported a loss from operations of $1,544,496, with other income of $3,423,925, including an unrealized gain on warrant liabilities of $2,970,528[108]. - For the six months ended June 30, 2022, the company had a loss from operations of $2,053,572, with other income of $7,304,080, primarily from an unrealized gain on warrant liabilities of $6,824,630[109]. - Cash used in operating activities for the six months ended June 30, 2022, was $533,488, with net income of $5,250,508 primarily offset by an unrealized gain on warrant liabilities[118]. Trust Account and Funds - As of June 30, 2022, the company held $319,712,052 in the Trust Account, which includes $479,450 of income[117]. - The company has committed to use substantially all funds held in the Trust Account to acquire a target business and cover related expenses[120]. 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[115]. - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 in underwriting fees[116]. Debt and Financial Obligations - As of June 30, 2022, the company had issued $500,000 in Working Capital Loans, which would be repaid upon completion of a business combination[121]. - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2022[125][126]. Business Combination Requirement - The company must complete a Business Combination by March 18, 2023, or it will cease operations and liquidate[124].
Plum Acquisition I(PLMI) - 2022 Q2 - Quarterly Report