PSQ (US:PSQH)2022-05-09 20:08IPO and Fundraising - The company completed its Initial Public Offering (IPO) on June 11, 2021, generating gross proceeds of $150 million from the sale of 15,000,000 Units at $10.00 per Unit[124]. - An additional 2,250,000 Units were sold due to the underwriters' over-allotment option, generating total gross proceeds of $22.5 million[125]. Financial Position - As of March 31, 2022, the company had marketable securities held in the Trust Account amounting to $172,517,647, which includes $17,647 of interest income[129]. - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2022[134]. Income and Expenses - For the three months ended March 31, 2022, the company reported a net income of $2,585,027, primarily from interest earned on marketable securities and changes in fair value of warrant liabilities[122]. - The company incurred $30,000 in fees for office space and administrative services for the three months ended March 31, 2022[135]. - Cash used in operating activities for the three months ended March 31, 2022, was $383,074, with net income affected by interest and changes in fair value of warrant liabilities[127]. Business Combination and Future Outlook - The company intends to use substantially all funds in the Trust Account to complete its Business Combination[130]. - If the Business Combination is not consummated, the company may need to raise additional capital, which raises substantial doubt about its ability to continue as a going concern[133]. - The company has not generated any operating revenues to date and does not expect to do so until after the completion of its Business Combination[121].