Exhibit 99.1
Acropolis Infrastructure Acquisition Corp.
(formerly known as AP Caps III, Corp.)
PRO FORMA BALANCE SHEET
| Actual as of July 13, 2021 | Pro Forma Adjustments | As Adjusted | |||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||
| ASSETS | |||||||||||||
| Current assets: | |||||||||||||
| Cash | $ | 559,752 | $ | 900,000 | (2) | $ | 559,752 | ||||||
| (900,000 | ) | (3) | |||||||||||
| Prepaid expenses | 16,800 | 1,625,246 | (4) | 1,642,046 | |||||||||
| Total current assets | 576,552 | 1,625,246 | 2,201,798 | ||||||||||
| Cash held in Trust Account | 300,000,000 | 45,000,000 | (1) | 345,000,000 | |||||||||
| Total Assets | $ | 300,576,552 | $ | 46,625,246 | $ | 347,201,798 | |||||||
| Liabilities and STOCKholders' Equity | |||||||||||||
| Current liabilities: | |||||||||||||
| Accrued offering costs | $ | 50,000 | $ | 17,640 | (5) | $ | 67,640 | ||||||
| Advance from related party | - | 1,625,246 | (4) | 1,625,246 | |||||||||
| Total current liabilities | 50,000 | 1,642,886 | 1,692,886 | ||||||||||
| Deferred underwriting commissions | 10,500,000 | 1,575,000 | (3) | 12,075,000 | |||||||||
| Total liabilities | 10,550,000 | 3,217,886 | 13,767,886 | ||||||||||
| Commitments and Contingencies | |||||||||||||
| Class A common stock subject to possible redemption; 28,502,655 and 32,843,391 shares (at $10.00 per share), actual and adjusted | 285,026,550 | 43,407,360 | (6) | 328,433,910 | |||||||||
| Stockholders' Equity: | |||||||||||||
| Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | - | - | |||||||||||
| Class A common stock, $0.0001 par value, 800,000,000 shares authorized, 1,497,345 and 1,656,609 shares issued and outstanding (excluding 28,502,655 and 32,83,391 shares subject to possible redemption), actual and adjusted | 150 | 450 | (1) | 166 | |||||||||
| (434 | ) | (6) | |||||||||||
| Class B common stock, $0.0001 par value, 199,000,000 shares authorized, 8,625,000 and 8,625,000 shares issued and outstanding, actual and adjusted (1) | 863 | 863 | |||||||||||
| Additional paid-in capital | 4,999,454 | 44,999,550 | (1) | 4,999,438 | |||||||||
| 900,000 | (2) | ||||||||||||
| (900,000 | ) | (3) | |||||||||||
| (1,575,000 | ) | (3) | |||||||||||
| (17,640 | ) | (5) | |||||||||||
| (43,406,926 | ) | (6) | |||||||||||
| Accumulated deficit | (465 | ) | (465 | ) | |||||||||
| Total Stockholders' Equity | 5,000,002 | - | 5,000,002 | ||||||||||
| Total Liabilities and Shareholders' Equity | $ | 300,576,552 | $ | 46,625,246 | $ | 347,201,798 | |||||||
Acropolis Infrastructure Acquisition Corp.
(formerly known as AP Caps III, Corp.)
Note to Pro Forma Financial Statement
(unaudited)
NOTE 1 - CLOSING OF OVERALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT
The accompanying unaudited Pro Forma Financial Statement presents the Balance Sheet of Acropolis Infrastructure Acquisition Corp. (formerly known as AP Caps III, Corp) (the “Company”) as of July 13, 2021, adjusted for the closing of the underwriters’ overallotment option and related transactions which occurred on August 3, 2021 as described below.
On August 3, 2021, the Company consummated the sale of 4,500,000 over-allotment units pursuant to the underwriters’ exercise of their over-allotment option. Such over-allotment units were sold at $10.00 per unit, generating gross proceeds of $45,000,000. Substantially concurrently with the closing of the sale of the over-allotment units, the Company consummated the private sale of an additional 600,000 private placement warrants at a purchase price of $1.50 per private placement warrant to Acropolis Infrastructure Acquisition Sponsor, L.P., the Company's sponsor, generating gross proceeds of $900,000. Following the closing of the over-allotment option and sale of additional private placement warrants, a total of $345,000,000, including approximately $12,075,000 of the underwriters’ deferred discount, was held in a U.S.-based trust account with Continental Stock Transfer & Trust Company acting as trustee. As a result of the underwriters' election to partially exercise their overallotment option, 1,125,000 founder shares are no longer subject to forfeiture.
Pro forma adjustments to reflect the exercise of the underwriters’ overallotment option are as follows:
| Pro forma entries | |||||||||||
| 1. | Cash held in Trust Account | 45,000,000 | |||||||||
| Class A common stock | 450 | ||||||||||
| Additional paid-in capital | 44,999,550 | ||||||||||
| To record sale of 4,500,000 Overallotment Units at $10.00 per Unit. | |||||||||||
| 2. | Cash | 900,000 | |||||||||
| Additional paid-in capital | 900,000 | ||||||||||
| To record proceeds from sale of Private Placement Warrants.. | |||||||||||
| 3. | Additional paid-in capital | 900,000 | |||||||||
| Cash | 900,000 | ||||||||||
| Additional paid-in capital | 1,575,000 | ||||||||||
| Deferred underwriter compensation | 1,575,000 | ||||||||||
| To record payment of cash & deferred underwriting fee on overallotment option. | |||||||||||
| 4. | Prepaid expenses | 1,625,246 | |||||||||
| Advances from related party | 1,625,246 | ||||||||||
| To record payment of directors & officers’ insurance by related party. | |||||||||||
| 5. | Additional paid-in capital | 17,640 | |||||||||
| Accrued offering costs | 17,640 | ||||||||||
| To record additional accruals at close of exercise. | |||||||||||
| 6. | Class A ordinary shares | 434 | |||||||||
| Additional paid-in capital | 43,406,926 | ||||||||||
| Class A common stock subject to conversion | 43,407,360 | ||||||||||
| To restore total equity above $5,000,001. |
F-2
