☒ | 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 |
Delaware | 001-40166 | 85-2992192 | ||||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||
1180 North Town Center Drive, Suite 100 Las Vegas Nevada | 89144 | |||||
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant | DMYQ.U | The New York Stock Exchange | ||
Class A common stock, par value $0.0001 per share | DMYQ | The New York Stock Exchange | ||
Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share | DMYQ WS | The New York Stock Exchange |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
Page No. | ||||||
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6 | ||||||
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8 | ||||||
Item 2. | ||||||
Item 3. | ||||||
Item 4. | ||||||
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Item 2. | ||||||
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30 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
Assets: | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash | $ | 229,410 | $ | 0 | $ | 75,975 | $ | 0 | ||||||||
Prepaid expenses | 593,543 | 0 | 475,208 | 0 | ||||||||||||
Total current assets | 822,953 | 0 | 551,183 | 0 | ||||||||||||
Investments held in Trust Account | 345,057,911 | 0 | 345,098,658 | 0 | ||||||||||||
Deferred offering costs associated with initial public offering | 0 | 85,750 | 0 | 85,750 | ||||||||||||
Total Assets | $ | 345,880,864 | $ | 85,750 | $ | 345,649,841 | $ | 85,750 | ||||||||
Liabilities and Stockholders’ Equity: | ||||||||||||||||
Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit): | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | 102,642 | $ | 10,000 | $ | 123,475 | $ | 10,000 | ||||||||
Accrued expenses | 397,742 | 51,000 | 3,901,044 | 51,000 | ||||||||||||
Franchise tax payable | 100,450 | 400 | 150,450 | 400 | ||||||||||||
Due to related parties | 0 | 750 | 112,000 | 750 | ||||||||||||
Total current liabilities | 600,834 | 62,150 | 4,286,969 | 62,150 | ||||||||||||
Deferred legal fees | 2,361,155 | 0 | 2,361,156 | 0 | ||||||||||||
Deferred underwriting commissions | 12,075,000 | 0 | 12,075,000 | 0 | ||||||||||||
Derivative warrant liabilities | 31,751,332 | 0 | 34,470,000 | 0 | ||||||||||||
Total Liabilities | 46,788,321 | 62,150 | 53,193,125 | 62,150 | ||||||||||||
Commitments and Contingencies | 0 | 0 | 0 | 0 | ||||||||||||
Class A common stock, $0.0001 par value; 29,409,254 and -0- | 294,092,540 | 0 | ||||||||||||||
Stockholders’ Equity: | ||||||||||||||||
Class A common stock subject to possible redemption, $0.0001 par value; 34,500,000 and -0- | 345,000,000 | 0 | ||||||||||||||
Stockholders’ Equity (Deficit): | ||||||||||||||||
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 0ne issued and outstanding | 0 | 0 | 0 | 0 | ||||||||||||
Class A common stock, $0.0001 par value; 380,000,000 shares authorized; 5,090,746 and -0- -0- | 509 | 0 | ||||||||||||||
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 8,625,000 | 863 | 863 | ||||||||||||||
Class A common stock, $0.0001 par value; 380,000,000 shares authorized; 0 non-redeemable shares issued or outstanding | 0 | 0 | ||||||||||||||
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 8,625,000 shares issued and outstanding at September 30, 2021 and December 31, 2020 | 863 | 863 | ||||||||||||||
Additional paid-in capital | 19,785,719 | 24,137 | 0 | 24,137 | ||||||||||||
Accumulated deficit | (14,787,088 | ) | (1,400 | ) | (52,544,147 | ) | (1,400 | ) | ||||||||
Total stockholders’ equity | 5,000,003 | 23,600 | ||||||||||||||
Total stockholders’ equity (deficit) | (52,543,284 | ) | 23,600 | |||||||||||||
Total Liabilities and Stockholders’ Equity | $ | 345,880,864 | $ | 85,750 | ||||||||||||
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit) | $ | 345,649,841 | $ | 85,750 | ||||||||||||
For the three months ended | For the nine months ended | |||||||
September 30, 2021 | September 30, 2021 | |||||||
General and administrative expenses | $ | 3,907,910 | $ | 7,302,396 | ||||
Franchise tax expenses | 50,000 | 150,050 | ||||||
Loss from operations | (3,957,910 | ) | (7,452,446 | ) | ||||
Other income (expenses): | ||||||||
Interest income earned in operating account | 4 | 18 | ||||||
Income from investments held in Trust Account | 40,747 | 98,658 | ||||||
Loss upon issuance of private placement warrants | 0 | (14,062,000 | ) | |||||
Offering costs associated with derivative warrant liabilities | 0 | (710,745 | ) | |||||
Change in fair value of derivative warrant liabilities | (2,718,668 | ) | 705,000 | |||||
Total other income (expenses) | (2,677,917 | ) | (13,969,069 | ) | ||||
Net loss | $ | (6,635,827 | ) | $ | (21,421,515 | ) | ||
Weighted average shares outstanding of Class A common stock | 34,500,000 | 26,032,967 | ||||||
Basic and diluted net loss per share, Class A common stock | $ | (0.15 | ) | $ | (0.62 | ) | ||
Weighted average shares outstanding of Class B common stock | 8,625,000 | 8,348,901 | ||||||
Basic and diluted net loss per share, Class B common stock | $ | (0.15 | ) | $ | (0.62 | ) | ||
For the three months ended June 30, 2021 | For the six months ended June 30, 2021 | |||||||
General and administrative expenses | $ | 3,121,618 | $ | 3,394,486 | ||||
Franchise tax expenses | 50,000 | 100,050 | ||||||
Loss from operations | (3,171,618 | ) | (3,494,536 | ) | ||||
Other income (expenses): | ||||||||
Interest income earned in operating account | 10 | 14 | ||||||
Gain on investments (net), dividends and interest, held in Trust Account | 6,902 | 57,911 | ||||||
Loss upon issuance of private placement warrants | 0 | (14,062,000 | ) | |||||
Offering costs associated with derivative warrant liabilities | 0 | (710,745 | ) | |||||
Change in fair value of derivative warrant liabilities | 2,928,333 | 3,423,668 | ||||||
Total other income (expenses) | 2,935,245 | (11,291,152 | ) | |||||
Net loss | $ | (236,373 | ) | $ | (14,785,688 | ) | ||
Weighted average shares outstanding of Class A common stock | 34,500,000 | 34,500,000 | ||||||
Basic and diluted net income per share, Class A common stock | $ | (0.00 | ) | $ | 0 | |||
Weighted average shares outstanding of Class B common stock | 8,625,000 | 8,208,564 | ||||||
Basic and diluted net loss per share, Class B common stock | $ | (0.03 | ) | $ | (1.80 | ) | ||
Common Stock | Total | |||||||||||||||||||||||||||
Class A | Class B | Additional Paid-In | Accumulated | Stockholders’ | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Deficit | Equity (Deficit) | ||||||||||||||||||||||
Balance - December 31, 2020 | 0 | $ | 0 | 8,625,000 | $ | 863 | $ | 24,137 | $ | (1,400 | ) | $ | 23,600 | |||||||||||||||
Accretion of Class A common stock subject to possible redemption amount | — | — | — | — | (24,137 | ) | (31,121,232 | ) | (31,145,369 | ) | ||||||||||||||||||
Net loss | — | — | — | — | — | (14,549,315 | ) | (14,549,315 | ) | |||||||||||||||||||
Balance - March 31, 2021 (Unaudited, as restated) | 0 | $ | 0 | 8,625,000 | $ | 863 | $ | — | $ | (45,671,947 | ) | $ | (45,671,084 | ) | ||||||||||||||
Net loss | — | — | — | — | — | (236,373 | ) | (236,373 | ) | |||||||||||||||||||
Balance - June 30, 2021 (Unaudited, as restated) | 0 | $ | — | 8,625,000 | $ | 863 | $ | — | $ | (45,908,320 | ) | $ | (45,907,457 | ) | ||||||||||||||
Net loss | — | — | — | — | — | (6,635,827 | ) | (6,635,827 | ) | |||||||||||||||||||
Balance - September 30, 2021 (Unaudited) | 0 | $ | 0 | 8,625,000 | $ | 863 | $ | — | $ | (52,544,147 | ) | $ | (52,543,284 | ) | ||||||||||||||
Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total Stockholders’ Equity | |||||||||||||||||||||||||
Class A | Class B | |||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance—December 31, 2020 | — | $ | — | 8,625,000 | $ | 863 | $ | 24,137 | $ | (1,400 | ) | $ | 23,600 | |||||||||||||||
Sale of units in initial public offering, less fair value of public warrants | 34,500,000 | 3,450 | — | — | 332,783,550 | — | 332,787,000 | |||||||||||||||||||||
Offering costs | — | — | — | — | (18,932,369 | ) | — | (18,932,369 | ) | |||||||||||||||||||
Class A common stock subject to possible redemption | (29,409,254 | ) | (2,943 | ) | — | — | (294,325,967 | ) | — | (294,328,910 | ) | |||||||||||||||||
Net loss | — | — | — | — | — | (14,549,315 | ) | (14,549,315 | ) | |||||||||||||||||||
Balance—March 31, 2021 (Unaudited) | 5,090,746 | $ | 507 | 8,625,000 | $ | 863 | $ | 19,549,351 | $ | (14,550,715 | ) | $ | 5,000,006 | |||||||||||||||
Class A common stock subject to possible redemption | 23,637 | 2 | — | — | 236,368 | — | 236,370 | |||||||||||||||||||||
Net loss | — | — | — | — | — | (236,373 | ) | (236,373 | ) | |||||||||||||||||||
Balance—June 30, 2021 (Unaudited) | 5,090,746 | $ | 509 | 8,625,000 | $ | 863 | $ | 19,785,719 | $ | (14,787,088 | ) | $ | 5,000,003 | |||||||||||||||
For the nine months ended | ||||
September 30, 2021 | ||||
Cash Flows from Operating Activities: | ||||
Net loss | $ | (21,421,515 | ) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
General and administrative expenses paid by related party under promissory note | 1,000 | |||
Income from investments held in Trust Account | (98,658 | ) | ||
Loss upon issuance of private placement warrants | 14,062,000 | |||
Offering costs associated with derivative warrant liabilities | 710,745 | |||
Change in fair value of derivative warrant liabilities | (705,000 | ) | ||
Legal expenses deferred until business combination | 2,361,156 | |||
Changes in operating assets and liabilities: | ||||
Prepaid expenses | (50,208 | ) | ||
Accounts payable | 74,281 | |||
Accrued expenses | 3,815,044 | |||
Franchise tax payable | 150,050 | |||
Net cash used in operating activities | (3,462,261 | ) | ||
Cash Flows from Investing Activities | ||||
Cash deposited in Trust Account | (345,000,000 | ) | ||
Net cash used in investing activities | (345,000,000 | ) | ||
Cash Flows from Financing Activities: | ||||
Proceeds from loans from related parties | 362,292 | |||
Repayment of loans from related parties | (1,116,142 | ) | ||
Proceeds received from initial public offering, gross | 345,000,000 | |||
Proceeds received from private placement | 8,900,000 | |||
Offering costs paid | (6,969,070 | ) | ||
Net cash provided by financing activities | 348,538,236 | |||
Net increase in cash | 75,975 | |||
Cash - beginning of the period | 0 | |||
Cash - end of the period | $ | 75,975 | ||
Supplemental disclosure of noncash activities: | ||||
Offering costs included in accounts payable | $ | 39,194 | ||
Offering costs included in accrued expenses | $ | 85,000 | ||
Offering costs paid by related party under promissory note | $ | 439,100 | ||
Prepaid expenses paid by related party under promissory note | $ | 425,000 | ||
Reversal of accrued expenses | $ | 50,000 | ||
Deferred underwriting commissions in connection with the initial public offering | $ | 12,075,000 | ||
Deferred legal fees | $ | 2,361,156 |
For the six months ended June 30, 2021 | ||||
Cash Flows from Operating Activities: | ||||
Net loss | $ | (14,785,688 | ) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
General and administrative expenses paid by related party under promissory note | 1,000 | |||
Gain on investments (net), dividends and interest, held in Trust Account | (57,911 | ) | ||
Loss upon issuance of private placement warrants | 14,062,000 | |||
Offering costs associated with derivative warrant liabilities | 710,745 | |||
Change in fair value of derivative warrant liabilities | (3,423,668 | ) | ||
Changes in operating assets and liabilities: | ||||
Prepaid expenses | (168,543 | ) | ||
Accounts payable | 53,448 | |||
Accrued expenses | 291,742 | |||
Franchise tax payable | 100,050 | |||
Net cash used in operating activities | (3,216,825 | ) | ||
Cash Flows from Investing Activities | ||||
Cash deposited in Trust Account | (345,000,000 | ) | ||
Net cash used in investing activities | (345,000,000 | ) | ||
Cash Flows from Financing Activities: | ||||
Proceeds from loans from related parties | 125,006 | |||
Repayment of loans from related parties | (990,856 | ) | ||
Proceeds received from initial public offering, gross | 345,000,000 | |||
Proceeds received from private placement | 8,900,000 | |||
Offering costs paid | (6,949,070 | ) | ||
Deferred legal fees | 2,361,155 | |||
Net cash provided by financing activities | 348,446,235 | |||
Net increase in cash | 229,410 | |||
Cash—beginning of the period | 0 | |||
Cash—end of the period | $ | 229,410 | ||
Supplemental disclosure of noncash activities: | ||||
Offering costs included in accounts payable | $ | 39,194 | ||
Offering costs included in accrued expenses | $ | 105,000 | ||
Offering costs paid by related party under promissory note | $ | 439,100 | ||
Prepaid expenses paid by related party under promissory note | $ | 425,000 | ||
Reversal of accrued expenses | $ | 50,000 | ||
Deferred underwriting commissions in connection with the initial public offering | $ | 12,075,000 | ||
Value of Class A common stock subject to possible redemption | $ | 294,092,540 |
As of March 9, 2021 | As Reported | Adjustment | As Restated | |||||||||
Total assets | $ | 347,538,706 | $ | 347,538,706 | ||||||||
Total liabilities | $ | 13,294,983 | $ | 13,294,983 | ||||||||
Class A common stock subject to possible redemption | 329,243,720 | 15,756,280 | 345,000,000 | |||||||||
Preferred stock | 0 | 0 | 0 | |||||||||
Class A common stock | 158 | (158 | ) | 0 | ||||||||
Class B common stock | 863 | 0 | 863 | |||||||||
Additional paid-in capital | 5,037,145 | (5,037,145 | ) | 0 | ||||||||
Accumulated deficit | (38,163 | ) | (10,718,977 | ) | (10,757,140 | ) | ||||||
Total stockholders’ equity (deficit) | $ | 5,000,003 | $ | (15,756,280 | ) | $ | (10,756,277 | ) | ||||
Total Liabilities, Class A Common Stock Subject to Possible | ||||||||||||
Redemption and Stockholders’ Equity (Deficit) | $ | 347,538,706 | $ | 0 | $ | 347,538,706 |
As of March 31, 2021 (unaudited) | As Reported | Adjustment | As Restated | |||||||||
Total assets | $ | 346,518,868 | $ | 346,518,868 | ||||||||
Total liabilities | $ | 47,189,952 | $ | 47,189,952 | ||||||||
Class A common stock subject to possible redemption | 294,328,910 | 50,671,090 | 345,000,000 | |||||||||
Preferred stock | 0 | 0 | 0 | |||||||||
Class A common stock | 507 | (507 | ) | 0 | ||||||||
Class B common stock | 863 | 0 | 863 | |||||||||
Additional paid-in capital | 19,549,351 | (19,549,351 | ) | 0 | ||||||||
Accumulated deficit | (14,550,715 | ) | (31,121,232 | ) | (45,671,947 | ) | ||||||
Total stockholders’ equity (deficit) | $ | 5,000,006 | $ | (50,671,090 | ) | $ | (45,671,084 | ) | ||||
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit) | $ | 346,518,868 | $ | 0 | $ | 346,518,868 |
For the three months ended March 31, 2021 (unaudited) | ||||||||||||
As Reported | Adjustment | As Restated | ||||||||||
Supplemental Disclosure of Noncash Financing Activities: | ||||||||||||
Value of Class A common stock subject to possible redemption | $ | 294,328,910 | $ | (294,328,910 | ) | $ | 0 |
As of June 30, 2021 (unaudited) | As Reported | Adjustment | As Restated | |||||||||
Total assets | $ | 345,880,864 | $ | 345,880,864 | ||||||||
Total liabilities | $ | 46,788,321 | $ | 46,788,321 | ||||||||
Class A common stock subject to possible redemption | 294,092,540 | 50,907,460 | 345,000,000 | |||||||||
Preferred stock | 0 | 0 | 0 | |||||||||
Class A common stock | 509 | (509 | ) | 0 | ||||||||
Class B common stock | 863 | 0 | 863 | |||||||||
Additional paid-in capital | 19,785,719 | (19,785,719 | ) | 0 | ||||||||
Accumulated deficit | (14,787,088 | ) | (31,121,232 | ) | (45,908,320 | ) | ||||||
Total stockholders’ equity (deficit) | $ | 5,000,003 | $ | (50,907,460 | ) | $ | (45,907,457 | ) | ||||
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit) | $ | 345,880,864 | $ | 0 | $ | 345,880,864 |
For the period six months ended June 30, 2021 (unaudited) | ||||||||||
As Reported | Adjustment | As Restated | ||||||||
Supplemental Disclosure of Noncash Financing Activities: | ||||||||||
Value of Class A common stock subject to possible redemption | $294,092,540 | $ | (294,092,540 | ) | $ | 0 |
Earnings Per Share for Class A common stock | ||||||||||||
As Reported | Adjustment | As Adjusted | ||||||||||
Form 10-Q (March 31, 2021)—For the three months ended March 31, 2021 (unaudited) | ||||||||||||
Net loss | $ | (14,549,315 | ) | $ | 0 | $ | (14,549,315 | ) | ||||
Weighted average shares outstanding | 7,787,500 | 0 | 7,787,500 | |||||||||
Basic and diluted earnings per share | $ | 0.00 | $ | (0.88 | ) | $ | (0.88 | ) | ||||
Form 10-Q (June 30, 2021)—For the three months ended June 30, 2021 (unaudited) | ||||||||||||
Net loss | $ | (236,373 | ) | $ | 0 | $ | (236,373 | ) | ||||
Weighted average shares outstanding | 34,500,000 | 0 | ||||||||||
Basic and diluted earnings per share | $ | 0.00 | $ | (0.01 | ) | $ | (0.01 | ) | ||||
Form 10-Q (June 30, 2021)—For the six months ended June 30, 2021 (unaudited) | ||||||||||||
Net loss | $ | (14,785,688 | ) | $ | 0 | $ | (14,785,688 | ) | ||||
Weighted average shares outstanding | 34,500,000 | (12,770,718 | ) | 21,729,282 | ||||||||
Basic and diluted earnings per share | $ | 0.00 | $ | (0.49 | ) | $ | (0.49 | ) |
Earnings Per Share for Class B common stock | ||||||||||||
As Reported | Adjustment | As Adjusted | ||||||||||
Form 10-Q (March 31, 2021)—For the three months ended March 31, 2021 (unaudited) | ||||||||||||
Net loss | $ | (14,549,315 | ) | $ | 0 | $ | (14,549,315 | ) | ||||
Weighted average shares outstanding | 7,778,090 | 846,910 | 8,625,000 | |||||||||
Basic and diluted earnings per share | $ | (0.06 | ) | $ | (0.82 | ) | $ | (0.88 | ) | |||
Form 10-Q (June 30, 2021)—For the three months ended June 30, 2021 (unaudited) | ||||||||||||
Net loss | $ | (236,373 | ) | $ | 0 | $ | (236,373 | ) | ||||
Weighted average shares outstanding | 8,625,000 | 0 | 8,625,000 | |||||||||
Basic and diluted earnings per share | $ | (0.03 | ) | $ | 0.02 | $ | (0.01 | ) | ||||
Form 10-Q (June 30, 2021)—For the six months ended June 30, 2021 (unaudited) | ||||||||||||
Net loss | $ | (14,785,688 | ) | $ | 0 | $ | (14,785,688 | ) | ||||
Weighted average shares outstanding | 8,208,564 | 0 | 8,208,564 | |||||||||
Basic and diluted earnings per share | $ | (1.80 | ) | $ | 1.31 | $ | (0.49 | ) |
For the Three Months Ended June 30, 2021 | For the Six Months Ended June 30, 2021 | |||||||
Class A common stock | ||||||||
Numerator: Income allocable to Class A common stock | ||||||||
Income from investments held in Trust Account | $ | 6,902 | $ | 57,911 | ||||
Less: Company’s portion available to be withdrawn to pay taxes | (6,902 | ) | (57,911 | ) | ||||
Net income attributable to Class A common stock | $ | 0 | $ | 0 | ||||
Denominator: Weighted average Class A common stock | ||||||||
Basic and diluted weighted average shares outstanding, Class A common stock | 34,500,000 | 34,500,000 | ||||||
Basic and diluted net income per share, Class A common stock | $ | 0 | $ | 0 | ||||
Class B common stock | ||||||||
Numerator: Net loss minus net income attributable to Class A common stock | ||||||||
Net loss | $ | (236,373) | $ | (14,785,688) | ||||
Net income attributable to Class A common stock | 0 | 0 | ||||||
Net loss attributable to Class B common stock | $ | (236,373 | ) | $ | (14,785,688 | ) | ||
Denominator: Weighted average Class B common stock | ||||||||
Basic and diluted weighted average shares outstanding, Class B common stock | 8,625,000 | 8,208,564 | ||||||
Basic and diluted net loss per share, Class B common stock | $ | (0.03 | ) | $ | (1.80 | ) | ||
For the Three Months Ended September 30, 2021 | For the Nine Months Ended September 30, 2021 | |||||||||||||||
Class A | Class B | Class A | Class B | |||||||||||||
Basic and diluted net income (loss) per common share: | ||||||||||||||||
Numerator: | ||||||||||||||||
Allocation of net income (loss) | $ | (5,308,662 | ) | $ | (1,327,165 | ) | $ | (16,219,758 | ) | $ | (5,201,757 | ) | ||||
Denominator: | ||||||||||||||||
Basic and diluted weighted average common shares outstanding | 34,500,000 | 8,625,000 | 26,032,967 | 8,348,901 | ||||||||||||
Basic and diluted net income (loss) per common share | $ | (0.15 | ) | $ | (0.15 | ) | $ | (0.62 | ) | $ | (0.62 | ) | ||||
Gross proceeds | $ | 345,000,000 | ||
Less: | ||||
Proceeds allocated to Public Warrants | (12,213,000 | ) | ||
Class A common stock issuance costs | (18,932,369 | ) | ||
Plus: | ||||
Accretion of carrying value to redemption value | 31,145,369 | |||
Class A common stock subject to possible redemption | $ | 345,000,000 | ||
Description | Quoted Prices in Active Markets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | Quoted Prices in Active Markets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Investments held in Trust Account—U.S. Treasury Securities (1) | $ | 345,056,942 | $ | 0 | $ | 0 | $ | 345,097,744 | $ | 0 | $ | 0 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Derivative warrant liabilities | $ | 9,798,000 | $ | 0 | $ | 21,953,332 | | $ | 13,110,000 | $ | 0 | $ | 21,360,000 |
(1) | Excludes |
As of September 30, 2021 | ||||
Exercise price | $ | 11.50 | ||
Stock price | $ | 9.91 | ||
Volatility | 26.6% - 45.2 | % | ||
Term | 5.17 | |||
Risk-free rate | 1.0 | % | ||
Dividend yield | 0.0 | % |
Level 3—Derivative warrant liabilities at January 1, 2021 | $ | 0 | $ | 0 | ||||
Issuance of Public and Private Warrants | 35,175,000 | 35,175,000 | ||||||
Change in fair value of derivative warrant liabilities | (495,335 | ) | (495,335 | ) | ||||
Level 3—Derivative warrant liabilities at March 31, 2021 | $ | 34,679,665 | $ | 34,679,665 | ||||
Transfer to Level 1 | (12,489,000 | ) | (12,489,000 | ) | ||||
Change in fair value of derivative warrant liabilities | (237,333 | ) | (237,333 | ) | ||||
Level 3—Derivative warrant liabilities at June 30, 2021 | $ | 21,953,332 | $ | 21,953,332 | ||||
Change in fair value of derivative warrant liabilities | (593,332 | ) | ||||||
Level 3—Derivative warrant liabilities at September 30, 2021 | $ | 21,360,000 | ||||||
* | These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. |
DMY TECHNOLOGY GROUP, INC. IV | ||
By: | /s/ Niccolo de Masi | |
Name: | Niccolo de Masi | |
Title: | Chief Executive Officer |