v3.23.1

Condensed Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash	$ 409,599	$ 474,947
Prepaid expenses	119,993	197,252
Total current assets	529,592	672,199
Marketable securities held in Trust Account	348,362,248	344,826,405
Total Assets	348,891,840	345,498,604
Liabilities, Redeemable Class A Common Stock and Stockholders’ Deficit
Accrued expenses	368,234	239,352
Due to Sponsors	234,999	204,999
Franchise taxes payable	50,000	61,041
Income taxes payable	1,060,108	301,363
Total current liabilities	1,713,341	806,755
Warrant liabilities	1,903,933	694,191
Deferred underwriting commissions	11,931,364	11,931,364
Total liabilities	15,548,638	13,432,310
Commitments and Contingencies
Redeemable Class A common stock
Class A common stock $0.0001 par value; 380,000,000 shares authorized; 34,089,611 shares issued and outstanding subject to possible redemption, at redemption value	347,313,276	344,464,001
Stockholders’ Deficit:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Class A common stock, $0.0001 par value; 380,000,000 shares authorized; 0 shares issued and outstanding (excluding 34,089,611 shares subject to possible redemption)
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 8,522,403 shares issued and outstanding	853	853
Additional paid-in capital
Accumulated deficit	(13,970,927)	(12,398,560)
Total Stockholders’ Deficit	(13,970,074)	(12,397,707)
Total Liabilities, Redeemable Class A Common Stock and Stockholders’ Deficit	$ 348,891,840	$ 345,498,604

Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

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Logistics Innovation Technologies Corp. 10-Q