Exhibit 99.1
INDEX TO UNAUDITED PRO FORMA FINANCIAL STATEMENT
Unaudited Pro Forma Balance Sheet as of February 17, 2022 | F-2 |
F-1
PRO FORMA BALANCE SHEET
February17, | Pro Forma Adjustments | As Adjusted | ||||||||||
2022 | (Unaudited) | (Unaudited) | ||||||||||
Assets | ||||||||||||
Cash | $ | 1,025,000 | $ | — | $ | 1,025,000 | ||||||
Prepaid expense | 281,405 | — | 281,405 | |||||||||
Total current assets | 1,306,405 | — | 1,306,405 | |||||||||
Cash held in trust account | 60,600,000 | — | 60,600,000 | |||||||||
Total Assets | $ | 61,906,405 | $ | — | $ | 61,906,405 | ||||||
Liabilities, Shares Subject to Redemption and Shareholders’ Deficit | ||||||||||||
Accrued offering costs and expenses | $ | 278,113 | $ | — | $ | 278,113 | ||||||
Due to related party | 95,774 | — | 95,774 | |||||||||
Over-allotment option liability | 62,985 | 62,985 | ||||||||||
Promissory note - related party | 400,000 | — | 400,000 | |||||||||
Total current liabilities | 836,872 | — | 836,872 | |||||||||
Deferred underwriting fee payable | 2,100,000 | — | 2,100,000 | |||||||||
Total Liabilities | 2,936,872 | — | 2,936,872 | |||||||||
Commitments and Contingencies | ||||||||||||
Class A ordinary shares subject to possible redemption, 6,000,000 shares at accretion carrying value with redemption value of $10.10 per share | 60,600,000 | (11,235,653 | ) | 49,364,347 | ||||||||
Shareholders’ (Deficit) Equity | ||||||||||||
Preference shares, no par value; 1,000,000 shares authorized; none issued and outstanding | — | — | — | |||||||||
Class A ordinary shares, no par value; 100,000,000 shares authorized; 1,794,000 issued and outstanding (excluding 6,900,000 subject to possible redemption) (1) | — | — | — | |||||||||
Class B ordinary shares, no par value; 100 shares authorized; one share issued and outstanding | — | — | — | |||||||||
Additional paid-in capital | — | 9,620,701 | 9,620,701 | |||||||||
Accumulated deficit | (1,630,467 | ) | 1,614,952 | (15,515 | ) | |||||||
Total Shareholders' (Deficit) Equity | (1,630,467 | ) | — | 9,605,186 | ||||||||
Total Liabilities, Shares Subject to Redemption, and Shareholders’ (Deficit) Equity | $ | 61,906,405 | $ | — | $ | 61,906,405 |
(1) | Includes an aggregate of up to 225,000 Class A ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter. |
(2) | Shares have been retroactively restated to reflect a share repurchase and subscription. On June 7, 2021, we issued 2,875,000 Class B ordinary shares to our sponsor for an aggregate purchase price of $25,000 or approximately $0.01 per share. On July 19, 2021, 2,874,999 Class B ordinary shares were repurchased and cancelled at an aggregate repurchase price of $25,000 or approximately $0.01 per share, resulting in one Class B ordinary share in issue after the repurchase. On the same day, we issued 2,300,000 Class A ordinary shares to our sponsor for an aggregate purchase price of $25,000, or approximately $0.01 per share. Subsequently, on January 14, 2022, our sponsor surrendered for no consideration and we canceled 575,000 of such Class A ordinary shares, resulting in 1,725,000 Class A ordinary shares remaining outstanding. |
F-2