Exhibit 99.1
GOAL ACQUISITIONS CORP.
BALANCE SHEET
February 16, 2021
| | | February 16, 2021 | | | Pro Forma
Adjustments | | | | | As Adjusted | |
| | | | | | | | (unaudited) | | | | | | (unaudited) | |
| Assets: | | | | | | | | | | | | | | |
| Cash | | $ | 1,219,519 | | | $ | - | | | | | $ | 1,219,519 | |
| Prepaid expenses | | | 844,178 | | | | | | | | | | 844,178 | |
| Total current assets | | | 2,063,697 | | | | - | | | | | | 2,063,697 | |
| Cash held in trust account | | | 225,675,000 | | | | 33,750,000 | | | (a) | | | 258,750,000 | |
| | | | | | | | (675,000 | ) | | (c) | | | | |
| | | | | | | | | | | | | | | |
| Total Assets | | $ | 227,738,697 | | | $ | 33,075,000 | | | | | $ | 260,813,697 | |
| | | | | | | | | | | | | | | |
| Liabilities and Stockholders’ Equity | | | | | | | | | | | | | | |
| Accrued offering costs and expenses | | | 912,990 | | | | | | | | | | 912,990 | |
| Promissory note-related party | | | 153,551 | | | | | | | | | | 153,551 | |
| Due to Sponsor | | | 675,000 | | | | (675,000 | ) | | (b) | | | - | |
| Total Liabilities | | | 1,741,541 | | | | (675,000 | ) | | | | | 1,066,541 | |
| | | | | | | | | | | | | | | |
| Commitments | | | | | | | | | | | | | | |
| Common stock subject to possible redemption, 22,009,715 and 25,474,715 shares at redemption value, respectively | | | 220,997,150 | | | | 33,750,000 | | | (d) | | | 254,747,150 | |
| | | | | | | | | | | | | | | |
| Stockholders’ Equity: | | | | | | | | | | | | | | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | | | - | | | | - | | | | | | - | |
| Common stock, $0.0001 par value; 100,000,000 shares authorized; 7,619,035 and 7,686,535 shares issued and outstanding (excluding 22,009,715 and 25,474,715 shares subject to possible redemption, respectively) | | | 762 | | | | 338 | | | (a) | | | 769 | |
| | | | | | | | 7 | | | (b) | | | | |
| | | | | | | | (338 | ) | | (d) | | | | |
| | | | | | | | | | | | | | | |
| Additional paid-in capital | | | 5,006,367 | | | | 33,749,662 | | | (a) | | | 5,006,360 | |
| | | | | | | | 674,993 | | | (b) | | | | |
| | | | | | | | (675,000 | ) | | (c) | | | | |
| | | | | | | | (33,749,662 | ) | | (d) | | | | |
| | | | | | | | | | | | | | | |
| Accumulated deficit | | | (7,123 | ) | | | - | | | | | | (7,123 | ) |
| Total Stockholders’ Equity | | | 5,000,006 | | | | - | | | | | | 5,000,006 | |
| | | | | | | | | | | | | | | |
| Total Liabilities and Stockholders’ Equity | | $ | 227,738,697 | | | $ | 33,075,000 | | | | | $ | 260,813,697 | |
The accompany notes are an integral part of the financial statement.
NOTE 1 – CLOSING OF OVER-ALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT
The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of GOAL ACQUISITIONS CORP. (the “Company”) as of February 16, 2021, adjusted for the closing of the underwriters’ over-allotment option and related transactions which occurred on February 24, 2021 as described below.
The Company consummated its initial public offering (the “IPO”) of 22,500,000 units (the “Units”). Each Unit consists of one share of common stock, $0.0001 par value per share and one warrant to purchase one share of common stock. Each warrant entitles the holder to purchase one share of common stock at a price of $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $225,000,000. The Company granted the underwriters in the IPO (the “Underwriters”) a 45-day option to purchase up to 3,375,000 additional Units to cover over-allotments, if any. On February 24, 2021, the Underwriters exercised the over-allotment option in full and purchased an additional 3,375,000 Over-Allotment Units, generating an aggregate of gross proceeds of $33,750,000, and incurred $675,000 in cash underwriting fees.
Simultaneously with the closing of the exercise of the overallotment option, the Company completed the private sale (the “Private Placement”) of an aggregate of 67,500 private units (the “Private Units”) to Goal Acquisitions Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), at a purchase price of $10 per Private Units, generating gross proceeds of $675,000.
Upon closing of the IPO, the Private Placement, and the sale of the Over-Allotment Units, a total of $258,750,000 ($10.00 per Unit) was placed in a U.S.-based trust account, with Continental Stock Transfer & Trust Company acting as trustee.
Pro forma adjustments to reflect the exercise of the Underwriters’ over-allotment option and the sale of the Private Units described above are as follows:
| | Pro Forma Entries | | Debit | | | Credit | |
| (a) | Cash held in trust account | | $ | 33,750,000 | | | | | |
| | Common stock | | | | | | $ | 338 | |
| | Additional paid-in capital | | | | | | $ | 33,749,662 | |
| | To record sale of 3,375,000 Overallotment Units at $10.00 per Unit | |
| | | | | | | | | | |
| (b) | Due to Sponsor | | $ | 675,000 | | | | | |
| | Common stock | | | | | | $ | 7 | |
| | Additional paid-in capital | | | | | | $ | 674,993 | |
| | To record sale of 67,500 Private Units at $10.00 per Private Unit | |
| | | | | | | | | | |
| (c) | Additional paid-in capital | | $ | 675,000 | | | | | |
| | Cash held in trust account | | | | | | $ | 675,000 | |
| | To record payment of cash underwriting fee | |
| | | | | | | | | | |
| (d) | Common stock | | $ | 338 | | | | | |
| | Additional paid-in capital | | $ | 33,749,662 | | | | | |
| | Common stock subject to possible redemption | | | | | | $ | 33,750,000 | |
| | To record common stock out of permanent equity into mezzanine redeemable stock | |
