Exhibit 99.2
Index to Unaudited Pro Forma Financial Statement
BLOCKCHAIN MOON ACQUISITION CORP.
PRO FORMA BALANCE SHEET
October 21, 2021
| | October 21, 2021 | | | Pro Forma Adjustments | | | As Adjusted | |
| | | | | (unaudited) | | | (unaudited) | |
Assets | | | | | | | | | | | | |
Cash on hand | | $ | 1,318,063 | | | $ | - | | | $ | 1,318,063 | |
Prepaid expenses | | | 31,600 | | | | - | | | | 31,600 | |
Due from the Sponsor | | | 125,000 | | | | - | | | | 125,000 | |
Total current assets | | | 1,474,663 | | | | - | | | | 1,474,663 | |
Cash held in Trust Account | | | 100,000,000 | | | | 15,000,000 | (a) | | | 115,000,000 | |
| | | | | | | 300,000 | (b) | | | | |
| | | | | | | (300,000 | )(c) | | | | |
Total Assets | | $ | 101,474,663 | | | $ | 15,000,000 | | | $ | 116,474,663 | |
| | | | | | | | | | | | |
Liabilities and Stockholder’s Deficit | | | | | | | | | | | | |
Accrued offering costs and expenses | | $ | 25,000 | | | $ | - | | | $ | 25,000 | |
Due to related party | | | 52,448 | | | | - | | | | 52,448 | |
Total current liabilities | | | 77,448 | | | | - | | | | 77,448 | |
Warrant liability | | | 107,149 | | | | 8,036 | (e) | | | 115,185 | |
Deferred underwriting commissions | | | 3,500,000 | | | | 525,000 | (d) | | | 4,025,000 | |
Total liabilities | | | 3,684,597 | | | | 533,036 | | | | 4,217,633 | |
| | | | | | | | | | | | |
Commitments and contengencies | | | | | | | | | | | | |
Common stock subject to possible redemption, 10,000,000 and 11,500,000 shares at redemption value, respectively | | | 100,000,000 | | | | 15,000,000 | (a) | | | 115,000,000 | |
| | | | | | | | | | | | |
Stockholders’ Deficit: | | | | | | | | | | | | |
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, 3,275,000 and 3,305,000 shares issued and outstanding, actual and as adjusted (excluding 10,000,000 and 15,000,000 shares subject to possible redemption), respectively | | | 328 | | | | 3 | (b) | | | 331 | |
Additional paid-in capital | | | - | | | | 299,997 | (b) | | | - | |
| | | | | | | (300,000 | )(c) | | | | |
| | | | | | | (525,000 | )(d) | | | | |
| | | | | | | (8,036 | )(e) | | | | |
| | | | | | | (43 | )(f) | | | | |
| | | | | | | 533,082 | (g) | | | | |
Accumulated deficit | | | (2,210,262 | ) | | | 43 | (f) | | | (2,743,301 | ) |
| | | | | | | (533,082 | )(g) | | | | |
Total stockholders’ deficit | | | (2,209,934 | ) | | | (533,036 | ) | | | (2,742,970 | ) |
Total Liabilities and Stockholders’ Deficit | | $ | 101,474,663 | | | $ | 15,000,000 | | | $ | 116,474,663 | |
BLOCKCHAIN MOON ACQUISITION CORP.
NOTES TO PRO FORMA 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 Blockchain Moon Acquisition Corp. (the “Company”) as of October 21, 2021, adjusted for the closing of the underwriters’ over-allotment option and related transactions which occurred on October 26, 2021 as described below, as if the over-allotment option occurred on October 21, 2021.
On October 21, 2021, the Company consummated the initial public offering (“Initial Public Offering”) of 10,000,000 units (the “Public Units”), which excluded the over-allotment option in the amount of 1,150,000 Public Units, at $10.00 per Public Unit, generating gross proceeds of $100,000,000. On October 26, 2021, the underwriters fully exercised the over-allotment option and purchased 1,500,000 Public Units (the “Over-Allotment Option Units”) at a price of $10.00 per Over-Allotment Option Unit, generating gross proceeds of $15,000,000.
On October 26, 2021, simultaneously with the sale of the Over-Allotment Option Units, the Company consummated the private sale of an additional 30,000 Private Units, generating gross proceeds to the Company of $300,000. The Private Units were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transactions did not involve a public offering.
As of October 21, 2021, as adjusted, a total of $115,000,000, consisting of $112,577,497 of the net proceeds from the sale of Units in the IPO (including the Over-Allotment Option Units) and $2,422,503 of the net proceeds from the sale of the Private Units (including the Over-Allotment Option Units), were placed in a trust account established for the benefit of the Company’s public stockholders.
Pro forma adjustments to reflect the sale of the Over-Allotment Option Units and the sale of the Additional Private Placement Units described above are as follows:
| Pro Forma Entries | | Debit | | | Credit | |
(a) | Cash held in Trust Account | | $ | 15,000,000 | | | | | |
| Common stock subject to possible redemption | | | | | | $ | 15,000,000 | |
| To record sale of 1,500,000 Overallotment Units at $10.00 per Unit | | | | | | | | |
| | | | | | | | | |
(b) | Cash held in Trust Account | | $ | 300,000 | | | | | |
| Common stock | | | | | | $ | 3 | |
| Additional paid-in capital | | | | | | $ | 299,997 | |
| To record sale of 30,000 Private Placement Units at $10.00 per Private Placement Unit | | | | | | | | |
| | | | | | | | | |
(c) | Additional paid-in capital | | $ | 300,000 | | | | | |
| Cash held in Trust Account | | | | | | $ | 300,000 | |
| To record payment of cash underwriting fees | | | | | | | | |
| | | | | | | | | |
(d) | Additional paid-in capital | | $ | 525,000 | | | | | |
| Deferred underwriting commissions | | | | | | $ | 525,000 | |
| To record additional deferred underwriting fees arising from the sale of Over-allotment Option Units | | | | | | | | |
| | | | | | | | | |
(e) | Additional paid-in capital | | $ | 8,036 | | | | | |
| Warrant liability | | | | | | $ | 8,036 | |
| To record warrant liability arising from the sale of 30,000 Private Placement Units | | | | | | | | |
| | | | | | | | | |
(f) | Additional paid-in capital | | $ | 43 | | | | | |
| Accumulated deficit | | | | | | $ | 43 | |
| To record offering costs allocated to warrant liability | | | | | | | | |
| | | | | | | | | |
(g) | Accumulated deficit | | $ | 533,082 | | | | | |
| Additional paid-in capital | | | | | | $ | 533,082 | |
| To reclass deficit from additional paid-in capital to accumulated deficit | | | | | | | | |