☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Cayman Islands | N/A | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Class A ordinary shares, par value $0.0001 per share | SPKB | The NASDAQ Stock Market LLC | ||
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 | SPKBW | The NASDAQ Stock Market LLC | ||
Units, each consisting of one Class A ordinary share and one-quarter of one redeemable warrant | SPKBU | The NASDAQ Stock Market LLC |
☐ | Large accelerated filer | ☐ | Accelerated filer | ☒ | Non-accelerated filer |
☒ | Smaller reporting company | ☒ | Emerging growth company |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||
ASSETS | Unaudited | Unaudited | ||||||||||||||
Current assets | ||||||||||||||||
Current Assets | ||||||||||||||||
Cash | $ | 433,813 | $ | 808,320 | $ | 366,528 | $ | 808,320 | ||||||||
Prepaid expenses | 119,917 | 147,792 | 71,230 | 147,792 | ||||||||||||
Total Current Assets | 553,730 | 956,112 | 437,758 | 956,112 | ||||||||||||
Marketable securities held in Trust Account | 287,850,478 | 287,556,761 | 289,342,556 | 287,556,761 | ||||||||||||
TOTAL ASSETS | $ | 288,404,208 | $ | 288,512,873 | $ | 289,780,314 | $ | 288,512,873 | ||||||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Current Liabilities: | ||||||||||||||||
Accounts payable and accrued expenses | $ | 1,461,592 | $ | 1,323,310 | $ | 1,515,453 | $ | 1,323,310 | ||||||||
Total Current Liabilities | 1,461,592 | 1,323,310 | 1,515,453 | 1,323,310 | ||||||||||||
Warrant liabilities | 741,250 | 10,871,667 | 370,625 | 10,871,667 | ||||||||||||
Deferred underwriting fee payable | 10,062,500 | 10,062,500 | 10,062,500 | 10,062,500 | ||||||||||||
Total Liabilities | 12,265,342 | 22,257,477 | ||||||||||||||
TOTAL LIABILITIES | 11,948,578 | 22,257,477 | ||||||||||||||
Commitments and Contingencies | ||||||||||||||||
Class A ordinary shares subject to possible redemption, 28,750,000 shares at redemption value at June 30, 2022 and December 31, 2021 | 287,850,478 | 287,556,761 | ||||||||||||||
Class A ordinary shares subject to possible redemption, 28,750,000 shares at redemption value of $10.60 at September 30, 2022 and $10.00 December 31, 2021 | 289,342,556 | 287,556,761 | ||||||||||||||
Shareholders’ Deficit | ||||||||||||||||
Preference shares, $0.0001 par value; 1,000,000 shares authorized; NaN issued and outstanding | 0 | 0 | ||||||||||||||
SHAREHOLDERS’ DEFICIT | ||||||||||||||||
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | — | — | ||||||||||||||
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized | 0 | 0 | — | — | ||||||||||||
Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 7,187,500 shares issued and outstanding at June 30, 2022 and December 31, 2021 | 719 | 719 | ||||||||||||||
Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 7,187,500 shares issued and outstanding at September 30, 2022 and December 31, 2021 | 719 | 719 | ||||||||||||||
Additional paid-in capital | 0 | 0 | — | — | ||||||||||||
Accumulated deficit | (11,712,331 | ) | (21,302,084 | ) | (11,511,539 | ) | (21,302,084 | ) | ||||||||
Total Shareholders’ Deficit | (11,711,612 | ) | (21,301,365 | ) | ||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ | 288,404,208 | $ | 288,512,873 | ||||||||||||
TOTAL SHAREHOLDERS’ DEFICIT | (11,510,820 | ) | (21,301,365 | ) | ||||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | $ | 289,780,314 | $ | 288,512,873 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||
Formation and operational costs | $ | 265,209 | $ | 209,522 | $ | 1,134,454 | $ | 740,789 | $ | 169,832 | $ | 1,196,979 | $ | 1,304,286 | $ | 1,937,768 | ||||||||||||||||
Loss from operations | (265,209 | ) | (209,522 | ) | (1,134,454 | ) | (740,789 | ) | (169,832 | ) | (1,196,979 | ) | (1,304,286 | ) | (1,937,768 | ) | ||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||
Interest earned on marketable securities held in Trust Account | 368,551 | 6,496 | 434,278 | 15,246 | 1,206,292 | 26,609 | 1,640,570 | 41,855 | ||||||||||||||||||||||||
Change in fair value of warrant liabilities | 3,088,542 | (5,188,750 | ) | 10,130,417 | (2,634,791 | ) | 370,625 | 3,212,083 | 10,501,042 | 577,292 | ||||||||||||||||||||||
Broken deal fees income (loss) | 593,790 | 0 | 593,790 | 0 | ||||||||||||||||||||||||||||
Unrealized loss on marketable securities held in Trust Account | (125,779 | ) | 0 | (140,561 | ) | 0 | ||||||||||||||||||||||||||
Total other income (expense), net | 3,925,104 | (5,182,254 | ) | 11,017,924 | (2,619,545 | ) | ||||||||||||||||||||||||||
Broken deal fees income | — | — | 593,790 | — | ||||||||||||||||||||||||||||
Unrealized gain (loss) on marketable securities held in Trust Account | 285,785 | (2,102 | ) | 145,224 | (2,102 | ) | ||||||||||||||||||||||||||
Total other income, net | 1,862,702 | 3,236,590 | 12,880,626 | 617,045 | ||||||||||||||||||||||||||||
Net income (loss) | $ | 3,659,895 | $ | (5,391,776 | ) | $ | 9,883,470 | $ | (3,360,334 | ) | $ | 1,692,870 | $ | 2,039,611 | $ | 11,576,340 | $ | (1,320,723 | ) | |||||||||||||
Basic weighted average shares outstanding, Class A Ordinary Shares subject to possible redemption | 28,750,000 | 28,750,000 | 28,750,000 | 16,863,260 | 28,750,000 | 28,750,000 | 28,750,000 | 20,847,070 | ||||||||||||||||||||||||
Basic net income (loss) per common share, Class A Ordinary Shares subject to possible redemption | $ | 0.10 | $ | (0.15 | ) | $ | 0.28 | $ | (0.14 | ) | ||||||||||||||||||||||
Basic net income (loss) per ordinary share, Class A Ordinary Shares subject to possible redemption | $ | 0.05 | $ | 0.06 | $ | 0.32 | $ | (0.05 | ) | |||||||||||||||||||||||
Basic weighted average shares outstanding, Class B Ordinary Shares subject to possible redemption | 7,187,500 | 7,187,500 | 7,187,500 | 6,762,776 | ||||||||||||||||||||||||||||
Basic weighted average shares outstanding, Class B Ordinary Shares | 7,187,500 | 7,187,500 | 7,187,500 | 6,905,907 | ||||||||||||||||||||||||||||
Basic net income (loss) per share, Class B Ordinary Shares | $ | 0.10 | $ | (0.15 | ) | $ | 0.28 | $ | (0.14 | ) | $ | 0.05 | $ | 0.06 | $ | 0.32 | $ | (0.05 | ) |
Class B Ordinary Shares | Additional Paid-in | Accumulated | Total Shareholders’ | Class B Ordinary Shares | Additional Paid-in | Accumulated | Total Shareholders’ | |||||||||||||||||||||||||||||||||
Shares | Amount | Capital | Deficit | Deficit | Shares | Amount | Capital | Deficit | Deficit | |||||||||||||||||||||||||||||||
Balance – January 1, 2022 | 7,187,500 | $ | 719 | $ | 0 | $ | (21,302,084 | ) | $ | (21,301,365 | ) | 7,187,500 | $ | 719 | $ | — | $ | (21,302,084 | ) | $ | (21,301,365 | ) | ||||||||||||||||||
Remeasurement for Class A ordinary shares to redemption amount | — | 0 | 0 | 49,054 | 49,054 | — | — | — | 49,054 | 49,054 | ||||||||||||||||||||||||||||||
Net income | — | 0 | 0 | 6,223,575 | 6,223,575 | — | — | — | 6,223,575 | 6,223,575 | ||||||||||||||||||||||||||||||
Balance – March 31, 2022 | 7,187,500 | $ | 719 | $ | 0 | $ | (15,029,455 | ) | $ | (15,028,736 | ) | 7,187,500 | $ | 719 | $ | — | $ | (15,029,455 | ) | $ | (15,028,736 | ) | ||||||||||||||||||
Remeasurement for Class A ordinary shares to redemption amount | — | 0 | 0 | (342,771 | ) | (342,771 | ) | — | — | — | (342,771 | ) | (342,771 | ) | ||||||||||||||||||||||||||
Net income | — | 0 | 0 | 3,659,895 | 3,659,895 | — | — | — | 3,659,895 | 3,659,895 | ||||||||||||||||||||||||||||||
Balance – June 30, 2022 | 7,187,500 | $ | 719 | $ | 0 | $ | (11,712,331 | ) | $ | (11,711,612 | ) | 7,187,500 | $ | 719 | $ | — | $ | (11,712,331 | ) | $ | (11,711,612 | ) | ||||||||||||||||||
Remeasurement for Class A ordinary shares to redemption amount | — | — | — | (1,492,078 | ) | (1,492,078 | ) | |||||||||||||||||||||||||||||||||
Net income | — | — | — | 1,692,870 | 1,692,870 | |||||||||||||||||||||||||||||||||||
Balance – September 30, 2022 | 7,187,500 | $ | 719 | $ | — | $ | (11,511,539 | ) | $ | (11,510,820 | ) |
Class B Ordinary Shares | Additional Paid-in | Accumulated | Total Shareholders’ | Class B Ordinary Shares | Additional Paid-in | Accumulated | Total Shareholders’ | |||||||||||||||||||||||||||||||||
Shares | Amount | Capital | Deficit | Deficit | Shares | Amount | Capital | Deficit | Deficit | |||||||||||||||||||||||||||||||
Balance – January 1, 2021 | 7,187,500 | $ | 719 | $ | 24,281 | $ | (5,000 | ) | $ | 20,000 | 7,187,500 | $ | 719 | $ | 24,281 | $ | (5,000 | ) | $ | 20,000 | ||||||||||||||||||||
Remeasurement for Class A ordinary shares to redemption amount | — | 0 | (24,281 | ) | (22,139,058 | ) | (22,163,339 | ) | — | — | (24,281 | ) | (22,139,058 | ) | (22,163,339 | ) | ||||||||||||||||||||||||
Net income | — | 0 | 0 | 2,031,442 | 2,031,442 | — | — | — | 2,031,442 | 2,031,442 | ||||||||||||||||||||||||||||||
Balance – March 31, 2021 | $ | 7,187,500 | $ | 719 | $ | 0 | $ | (20,112,616 | ) | $ | (20,111,897 | ) | 7,187,500 | $ | 719 | $ | — | $ | (20,112,616 | ) | $ | (20,111,897 | ) | |||||||||||||||||
Remeasurement for Class A ordinary shares to redemption amount | — | 0 | 0 | (6,496 | ) | (6,496 | ) | — | — | — | (6,496 | ) | (6,496 | ) | ||||||||||||||||||||||||||
Net loss | — | 0 | 0 | (5,391,776 | ) | (5,391,776 | ) | — | — | — | (5,391,776 | ) | (5,391,776 | ) | ||||||||||||||||||||||||||
Balance – June 30, 2021 | 7,187,500 | $ | 719 | $ | 0 | $ | (25,510,888 | ) | $ | (25,510,169 | ) | 7,187,500 | $ | 719 | $ | — | $ | (25,510,888 | ) | $ | (25,510,169 | ) | ||||||||||||||||||
Remeasurement for Class A ordinary shares to redemption amount | — | — | — | (24,507 | ) | (24,507 | ) | |||||||||||||||||||||||||||||||||
Net income | — | — | — | 2,039,611 | 2,039,611 | |||||||||||||||||||||||||||||||||||
Balance – September 30, 2021 | 7,187,500 | $ | 719 | $ | — | $ | (23,495,784 | ) | $ | (23,495,065 | ) |
For the Six Months Ended June 30, | For the Six Months Ended June 30, | For the Nine Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
Cash Flows from Operating Activities: | ||||||||||||||||
Net income (loss) | $ | 9,883,470 | $ | (3,360,334 | ) | $ | 11,576,340 | $ | (1,320,723 | ) | ||||||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||||||||||
Change in fair value of warrant liabilities | (10,130,417 | ) | 2,634,791 | (10,501,042 | ) | (577,292 | ) | |||||||||
Interest earned on marketable securities held in Trust Account | (434,278 | ) | (15,246 | ) | (1,640,570 | ) | (41,855 | ) | ||||||||
Unrealized loss on marketable securities held in Trust Account | 140,561 | 0 | ||||||||||||||
Unrealized loss (gain) on marketable securities held in Trust Account | (145,224 | ) | 2,102 | |||||||||||||
Transaction costs incurred in connection with Initial Public Offering | 0 | 467,695 | — | 467,695 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Prepaid expenses | 27,875 | (257,470 | ) | 76,562 | (208,265 | ) | ||||||||||
Accounts payable and accrued expenses | 142,700 | 150,558 | 202,283 | 1,058,276 | ||||||||||||
Net cash used in operating activities | (370,089 | ) | (380,006 | ) | (431,651 | ) | (620,062 | ) | ||||||||
Cash Flows from Investing Activities: | ||||||||||||||||
Investment of cash into Trust Account | 0 | (287,500,000 | ) | — | (287,500,000 | ) | ||||||||||
Net cash used in investing activities | 0 | (287,500,000 | ) | — | (287,500,000 | ) | ||||||||||
Cash Flows from Financing Activities: | ||||||||||||||||
Proceeds from sale of Units, net of underwriting discounts paid | 0 | 281,750,000 | — | 281,750,000 | ||||||||||||
Proceeds from sale of Private Placement Warrants | 0 | 7,750,000 | — | 7,750,000 | ||||||||||||
Proceeds from promissory note – related party | 0 | 53,688 | — | 53,688 | ||||||||||||
Repayment of due to/from – related party | (4,418 | ) | 0 | (10,141 | ) | — | ||||||||||
Repayment of promissory note – related party | 0 | (74,138 | ) | — | (74,138 | ) | ||||||||||
Payment of offering costs | 0 | (464,000 | ) | — | (464,000 | ) | ||||||||||
Net cash (used in) provided by financing activities | (4,418 | ) | 289,015,550 | (10,141 | ) | 289,015,550 | ||||||||||
Net Change in Cash | (374,507 | ) | 1,135,544 | (441,792 | ) | 895,488 | ||||||||||
Cash – Beginning | 808,320 | 0 | 808,320 | — | ||||||||||||
Cash – Ending | $ | 433,813 | $ | 1,135,544 | $ | 366,528 | $ | 895,488 | ||||||||
Non-cash investing and financing activities: | ||||||||||||||||
Offering costs included in accrued offering costs | $ | 0 | $ | 348,800 | $ | — | $ | 348,800 | ||||||||
Initial classification of Class A ordinary shares subject to possible redemption | $ | 0 | $ | 287,500,000 | $ | — | $ | 287,500,000 | ||||||||
Remeasurement for Class A ordinary shares to redemption amount | $ | 342,772 | $ | 15,246 | ||||||||||||
Remeasurement for Class A ordinary shares subject to possible redemption | $ | 1,785,795 | $ | 39,753 | ||||||||||||
Deferred underwriting fee payable | $ | 0 | $ | 10,062,500 | $ | — | $ | 10,062,500 |
Class A ordinary shares subject to possible redemption | Class A ordinary shares subject to possible redemption | |||||||
Gross proceeds | $ | 287,500,000 | $ | 287,500,000 | ||||
Less: | ||||||||
Proceeds allocated to Public Warrants | (8,050,000 | ) | (8,050,000 | ) | ||||
Class A ordinary shares issuance costs | (14,373,192 | ) | (14,373,192 | ) | ||||
Plus: | ||||||||
Accretion of carrying value to redemption value | 22,423,192 | |||||||
Accretion of carrying value to redemption value – Over-Allotment | 56,761 | |||||||
Remeasurement for Class A ordinary shares subject to possible redemption | 22,423,192 | |||||||
Remeasurement for Class A ordinary shares subject to possible redemption – Over-Allotment | 56,761 | |||||||
Class A ordinary shares subject to possible redemption - December 31, 2021 | 287,556,761 | 287,556,761 | ||||||
Remeasurement of Class A ordinary shares subject to possible redemption: | 293,717 | 1,785,795 | ||||||
Class A Ordinary shares subject to possible redemption - June 30, 2022: | $ | 287,850,478 | ||||||
Class A Ordinary shares subject to possible redemption - September 30, 2022: | $ | 289,342,556 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2021 | June 30, 2022 | June 30, 2021 | September 30, 2022 | September 30, 2021 | September 30, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | Class A | Class B | Class A | Class B | Class A | Class B | Class A | Class B | Class A | Class B | |||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted net income (loss) per ordinary share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocation of net income (loss), as adjusted | $ | 2,927,619 | $ | 731,979 | $ | (4,313,421 | ) | $ | (1,078,355 | ) | $ | 7,906,776 | $ | 1,976,694 | $ | (2,398,464 | ) | $ | (961,870 | ) | $ | 1,354,296 | $ | 338,574 | $ | 1,631,689 | $ | 407,922 | $ | 9,261,072 | $ | 2,315,268 | $ | (992,081 | ) | $ | (328,642 | ) | ||||||||||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted weighted average ordinary share outstanding | 28,750,000 | 7,187,500 | 28,750,000 | 7,187,500 | 28,750,000 | 7,187,500 | 16,863,260 | 6,762,776 | 28,750,000 | 7,187,500 | 28,750,000 | 7,187,500 | 28,750,000 | 7,187,500 | 20,847,070 | 6,905,907 | ||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted net income (loss) per ordinary share | $ | 0.10 | $ | 0.10 | $ | (0.15 | ) | $ | (0.15 | ) | $ | 0.28 | $ | 0.28 | $ | (0.14 | ) | $ | (0.14 | ) | $ | 0.05 | $ | 0.05 | $ | 0.06 | $ | 0.06 | $ | 0.32 | $ | 0.32 | $ | (0.05 | ) | $ | (0.05 | ) |
● | Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; |
● | Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and |
● | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. |
● | in whole and not in part; |
● | at a price of $0.01 per Public Warrant; |
● | upon not less than 30 days’ prior written notice of redemption to each warrant holder; and |
● | if, and only if, the last reported sale price of the Class A ordinary shares for any 20 trading days within a 30-trading day period ending three business days before the Company send to the notice of redemption to the warrant holders (the “Reference Value”) equals or exceeds $18.00 per share (as adjusted). |
● | in whole and not in part; |
● | at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the fair market value of the Class A ordinary shares; |
● | if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted); and |
● | if the Reference Value is less than $18.00 per share (as adjusted), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above. |
● | Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
● | Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. |
● | Level 3: Unobservable inputs based on the Company assessment of the assumptions that market participants would use in pricing the asset or liability. |
Description | Level | June 30, 2022 | December 31, 2021 | Level | September 30, 2022 | December 31, 2021 | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Marketable securities held in Trust Account | 1 | $ | 287,850,478 | $ | 287,556,761 | 1 | $ | 289,342,556 | $ | 287,556,761 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Warrant Liabilities – Public Warrants | 1 | 431,250 | 6,325,000 | 1 | 215,625 | 6,325,000 | ||||||||||||||||||
Warrant Liabilities – Private Placement Warrants | 3 | 310,000 | 4,546,667 | 3 | 155,000 | 4,546,667 |
Input | June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | ||||||||||||
Risk-free interest rate | 2.97 | % | 1.27 | % | 3.94 | % | 1.27 | % | ||||||||
Expected term (years) | 5.30 | 5.21 | 6.01 | 5.21 | ||||||||||||
Expected volatility | 0.8 | % | 14.5 | % | 6.00 | % | 14.50 | % | ||||||||
Exercise price | 11.50 | 11.50 | 11.50 | 11.50 | ||||||||||||
Fair value of Units | 9.80 | 9.72 | 9.91 | 9.72 |
Public Warrants | Private Warrants | Warrant Liabilities | Public Warrants | Private Warrants | Warrant Liabilities | |||||||||||||||||||
Level 1 | Level 3 | Level 1 | Level 3 | |||||||||||||||||||||
Fair value as of January 1, 2021 | $ | 6,325,000 | $ | 4,546,667 | $ | 10,871,667 | ||||||||||||||||||
Fair value as of January 1, 2022 | $ | 6,325,000 | $ | 4,546,667 | $ | 10,871,667 | ||||||||||||||||||
Change in fair value | (4,096,875 | ) | (2,945,000 | ) | (7,041,875 | ) | (4,096,875 | ) | (2,945,000 | ) | (7,041,875 | ) | ||||||||||||
Fair value as of March 31, 2022 | 2,228,125 | 1,601,667 | 3,829,792 | 2,228,125 | 1,601,667 | 3,829,792 | ||||||||||||||||||
Change in fair value | (1,796,875 | ) | (1,291,667 | ) | (3,088,542 | ) | (1,796,875 | ) | (1,291,667 | ) | (3,088,542 | ) | ||||||||||||
Fair value as of June 30, 2022 | 431,250 | 310,000 | 741,250 | 431,250 | 310,000 | 741,250 | ||||||||||||||||||
Change in fair value | (215,625 | ) | (155,000 | ) | (370,625 | ) | ||||||||||||||||||
Fair value as of September 30, 2022 | $ | 215,625 | $ | 155,000 | $ | 370,625 |
ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
ITEM 4. | CONTROLS AND PROCEDURES |
ITEM 1. | LEGAL PROCEEDINGS |
ITEM 1A. | RISK FACTORS |
ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
ITEM 3. | DEFAULTS UPON SENIOR SECURITIES |
ITEM 4. | MINE SAFETY DISCLOSURES |
ITEM 5. | OTHER INFORMATION |
ITEM 6. | EXHIBITS |
Exhibit No. | Description | |
Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||
Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||
Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||
Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||
101.INS* | XBRL Instance Document | |
101.CAL* | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.SCH* | XBRL Taxonomy Extension Schema Document | |
101.DEF* | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB* | XBRL Taxonomy Extension Labels Linkbase Document | |
101.PRE* | XBRL Taxonomy Extension Presentation Linkbase Document |
* | Filed herewith. |
** | Furnished. |
SILVER SPIKE ACQUISITION CORP II | ||||
Date: | By: | /s/ Scott Gordon | ||
Name: | Scott Gordon | |||
Title: | Chief Executive Officer Principal Executive Officer | |||
Date: | By: | /s/ Gregory Gentile | ||
Name: | Gregory Gentile | |||
Title: | Chief Financial Officer Principal Financial and Accounting Officer |