Liberty Media Acquisition Corp - Series A (LMACA) Financial Report Summaries

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From filing 10-Q 2022 Q3

Financial report summary

Management Discussion

General, administrative and formation costs increased $171,593 and $395,163 during the three and nine months ended September 30, 2022, respectively, as compared to the same periods in the prior year. The increase for the three months ended September 30, 2022, compared to the same period in the prior year, was primarily due to increased legal fees. The increase for the nine months ended September 30, 2022, compared to the same period in the prior year, was primarily due to increased legal fees, the majority of which occurred in the first quarter of 2022.
Interest expense decreased $9,282 and increased $220,322 during the three and nine months ended September 30, 2022, respectively, as compared to the same periods in the prior year. Interest expense is non-cash and is related entirely to the Working Capital Loan (see note 4 to the accompanying condensed financial statements).
Interest income on marketable securities held in the Trust Account increased $2,524,253 and $3,281,497 during the three and nine months ended September 30, 2022, respectively, as compared to the same periods in the prior year, primarily due to a higher yield during the second and third quarters of 2022.