☒ | 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 |
Cayman Islands | 98-1554598 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
(Address of principal executive offices) | (Zip Code) |
Title of each class (1) | Trading Symbol(s) | Name of each exchange on which registered | ||
Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-fifth of one redeemable warrant | AGCUU | NASDAQ Capital Market | ||
Class A ordinary shares included as part of the units | AGC | NASDAQ Capital Market | ||
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 | AGCWW | NASDAQ Capital Market |
(1) | On December 1, 2021, Altimeter Growth Corp. filed the Notification of Removal from Listing and Registration of Securities Pursuant to Section 12(d) of the Securities Exchange Act of 1934 on Form 25, and the securities listed below have been delisted from the NASDAQ Capital Market and deregistered under Section 12(b) of the Securities Exchange Act of 1934 as of December 1, 2021. |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
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2 7 |
ITEM 1. | FINANCIAL STATEMENTS |
June 30, | December 31, | |||||||||||||||
2021 | 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
ASSETS | ||||||||||||||||
Current assets | ||||||||||||||||
Cash | $ | 272,126 | $ | 855,972 | $ | 57,423 | $ | 855,972 | ||||||||
Prepaid expenses | 233,821 | 275,591 | 166,007 | 275,591 | ||||||||||||
Total Current Assets | 505,947 | 1,131,563 | 223,430 | 1,131,563 | ||||||||||||
Cash and marketable securities held in Trust Account | 500,014,112 | 500,000,000 | 500,021,794 | 500,000,000 | ||||||||||||
Total Assets | $ | 500,520,059 | $ | 501,131,563 | $ | 500,245,224 | $ | 501,131,563 | ||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||
LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT | ||||||||||||||||
Current liabilities | ||||||||||||||||
Accrued expenses | $ | 248,218 | $ | 64,100 | $ | 6,902,489 | $ | 64,100 | ||||||||
Due to related party | 66,116 | — | 89,845 | 0 | ||||||||||||
Total Current Liabilities | 314,334 | 64,100 | 6,992,334 | 64,100 | ||||||||||||
Warrant liability | 78,281,349 | 102,879,957 | ||||||||||||||
Warrant liabilities | 53,297,928 | 102,879,957 | ||||||||||||||
FPA liability | 43,723,743 | 54,310,054 | 12,368,995 | 54,310,054 | ||||||||||||
Deferred underwriting fee payable | 17,500,000 | 17,500,000 | 17,500,000 | 17,500,000 | ||||||||||||
Total Liabilities | 139,819,426 | 174,754,111 | 90,159,257 | 174,754,111 | ||||||||||||
Commitments and Contingencies | 0 | 0 | 0 | |||||||||||||
Class A ordinary shares subject to possible redemption, 35,570,063 and 32,137,745 shares at June 30, 2021 and December 31, 2020, respectively, at $10 per share | 355,700,630 | 321,377,450 | ||||||||||||||
Shareholders’ Equity | ||||||||||||||||
Class A ordinary shares subject to possible redemption, 50,000,000 shares issued and outstanding at redemption value of $10.00 per share as of September 30, 2021 and December 31, 2020 | 500,000,000 | 500,000,000 | ||||||||||||||
Shareholders’ Deficit | ||||||||||||||||
Preference shares, $0.0001 par value; 1,000,000 shares authorized; NaN outstanding | 0 | 0 | 0 | 0 | ||||||||||||
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized, 14,429,937 and 17,862,255 issued and outstanding (excluding 35,570,063 and 32,137,745 shares subject to possible redemption) at June 30, 2021 and December 31, 2020, respectively | 1,443 | 1,786 | ||||||||||||||
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; NaN outstanding | 0 | 0 | ||||||||||||||
Class B ordinary shares; $0.0001 par value; 20,000,000 shares authorized, 12,500,000 issued and outstanding | 1,250 | 1,250 | 1,250 | 1,250 | ||||||||||||
Additional paid-in capital | 101,674,018 | 135,996,855 | 0 | 0 | ||||||||||||
Accumulated deficit | (96,676,708 | ) | (130,999,889 | ) | (89,915,283 | ) | (173,623,798 | ) | ||||||||
Total Shareholders’ Equity | 5,000,003 | 5,000,002 | ||||||||||||||
Total Shareholders’ Deficit | (89,914,033 | ) | (173,622,548 | ) | ||||||||||||
Total Liabilities and Shareholders’ Equity | $ | 500,520,059 | $ | 501,131,563 | ||||||||||||
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit | $ | 500,245,224 | $ | 501,131,563 | ||||||||||||
For the Three Months Ended June 30, 2021 | For the Six Months Ended June 30, 2021 | For the Three Months Ended September 30, 2021 | For the Nine Months Ended September 30, 2021 | For the period from August 25, 2020 (inception) September 30, | ||||||||||||||||
Operating expenses | $ | 659,384 | $ | 875,850 | $ | 6,960,518 | $ | 7,836,367 | $ | 5,000 | ||||||||||
Loss from operations | (659,384 | ) | (875,850 | ) | (6,960,518 | ) | (7,836,367 | ) | (5,000 | ) | ||||||||||
Other income (expense) | ||||||||||||||||||||
Other income | ||||||||||||||||||||
Unrealized gain on marketable securities held in Trust Account | 7,599 | 14,112 | 7,682 | 21,794 | 0 | |||||||||||||||
Change in fair value of warrant liabilities | (6,877,331 | ) | 24,598,608 | 24,983,421 | 49,582,029 | 0 | ||||||||||||||
Change in fair value of FPA liability | (1,339,500 | ) | 10,586,311 | 31,354,748 | 41,941,059 | 0 | ||||||||||||||
Other income (expense), net | (8,209,232 | ) | 35,199,031 | |||||||||||||||||
Other income, net | 56,345,851 | 91,544,882 | 0 | |||||||||||||||||
Net income (loss) | $ | (8,868,616 | ) | $ | 34,323,181 | $ | 49,385,333 | $ | 83,708,515 | $ | (5,000 | ) | ||||||||
W eighted average shares outstanding of Class A redeemable ordinary shares | 50,000,000 | 50,000,000 | ||||||||||||||||||
Basic and diluted income per share, Class A redeemable ordinary shares | $ | 0.00 | $ | 0.00 | ||||||||||||||||
Weighted average shares outstanding of Class A redeemable ordinary shares | 50,000,000 | 50,000,000 | 0 | |||||||||||||||||
Basic and diluted income (loss) per share, Class A redeemable ordinary shares | $ | 0.79 | $ | 1.34 | $ | 0.00 | ||||||||||||||
Weighted average shares outstanding of Class B non-redeemable ordinary shares | 12,500,000 | 12,500,000 | 12,500,000 | 12,500,000 | 11,250,000 | |||||||||||||||
Basic and diluted income (loss) per share, Class B non-redeemable ordinary shares | $ | (0.71 | ) | $ | 2.74 | $ | 0.79 | $ | 1.34 | $ | (0.00 | ) | ||||||||
Class A | Class B | Additional | Total | Class B Ordinary Shares | Additional Paid-in Capital | Accumulated Deficit | Total Shareholders’ Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||||
Ordinary Shares | Ordinary Shares | Paid-in | Accumulated | Shareholders’ | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Deficit | Equity | ||||||||||||||||||||||||||||||||||||||||||
Balance—December 31, 2020 | 17,862,255 | $ | 1,786 | 12,500,000 | $ | 1,250 | $ | 135,996,855 | $ | (130,999,889 | ) | $ | 5,000,002 | |||||||||||||||||||||||||||||||||||
Change in value of Class A ordinary shares subject to redemption | (4,319,179 | ) | (432 | ) | — | — | (43,191,358 | ) | — | (43,191,790 | ) | |||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | — | 43,191,797 | 43,191,797 | |||||||||||||||||||||||||||||||||||||||||
Balance—December 31, 202 0 | 12,500,000 | $ | 1,250 | $ | 0 | $ | (173,623,798 | ) | $ | (173,622,548 | ) | |||||||||||||||||||||||||||||||||||||
Net incom e | — | — | — | 43,191,798 | 43,191,798 | |||||||||||||||||||||||||||||||||||||||||||
Balance – March 31, 2021 (unaudited) | 13,543,076 | $ | 1,354 | 12,500,000 | $ | 1,250 | $ | 92,805,497 | $ | (87,808,092 | ) | $ | 5,000,009 | 12,500,000 | $ | 1,250 | $ | 0 | $ | (130,432,000 | ) | $ | (130,430,750 | ) | ||||||||||||||||||||||||
Change in value of Class A ordinary shares subject to redemption | 886,861 | 89 | — | — | 8,868,521 | — | 8,868,610 | |||||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | (8,868,616 | ) | (8,868,616 | ) | (8,868,616 | ) | (8,868,616 | ) | |||||||||||||||||||||||||||||||||||
Balance – June 30, 2021 (unaudited) | 14,429,937 | $ | 1,443 | 12,500,000 | $ | 1,250 | $ | 101,674,018 | $ | (96,676,708 | ) | $ | 5,000,003 | 12,500,000 | $ | 1,250 | $ | 0 | $ | (139,300,616 | ) | $ | (139,299,366 | ) | ||||||||||||||||||||||||
Net income | — | — | — | 49,385,333 | 49,385,333 | |||||||||||||||||||||||||||||||||||||||||||
Balance – September 30, 2021 (unaudited) | 12,500,000 | $ | 1,250 | $ | 0 | $ | (89,915,283 | ) | $ | (89,914,033 | ) | |||||||||||||||||||||||||||||||||||||
Class B Ordinary Shares | Additional Paid-in Capital | Accumulated Deficit | Total Shareholders’ Equity (Deficit) | |||||||||||||||||
Shares | Amount | |||||||||||||||||||
Balance – August 25, 2020 (inception) | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Issuance of Class B ordinary shares to Sponsor (1) | 12,500,000 | 1,250 | 23,750 | 0 | 25,000 | |||||||||||||||
Net loss | — | — | — | (5,000 | ) | (5,000 | ) | |||||||||||||
Balance – September 30, 2020 (unaudited) | 12,500,000 | $ | 1,250 | $ | 23,750 | $ | (5,000 | ) | $ | 20,000 | ||||||||||
(1) | Included an aggregate of up to 1,250,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised. |
September 30, 2021 | For the Period from August 25, 2020 (Inception) Through September 30, | |||||||||||
Cash flows from operating activities: | ||||||||||||
Net income | $ | 34,323,181 | ||||||||||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||||||||
Net income (loss) | $ | 83,708,515 | $ | (5,000 | ) | |||||||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||||||
Unrealized gains earned on marketable securities held in Trust Account | (14,112 | ) | (21,794 | ) | — | |||||||
Change in fair value of warrant liabilities | (24,598,608 | ) | ||||||||||
Change in fair value of FPA liability | (10,586,311 | ) | ||||||||||
Change in fair valu e of warrant liabilities | (49,582,029 | ) | — | |||||||||
Change in fair valu e of FPA liability | (41,941,059 | ) | — | |||||||||
Changes in operating assets and liabilities | ||||||||||||
Prepaid expenses | 41,770 | |||||||||||
Payment of formation costs through issuance of Class B ordinary shares | — | 5,000 | ||||||||||
Prepaid expense s | 109,584 | — | ||||||||||
Accrued expenses | 184,118 | 6,838,389 | — | |||||||||
Net cash used in operating activities | (649,962 | ) | (888,394 | ) | — | |||||||
Cash flows from financing activities: | ||||||||||||
Due to related party | 66,116 | 89,845 | — | |||||||||
Net cash provided by financing activities | 66,116 | 89,845 | — | |||||||||
Net change in cash | (583,846 | ) | (798,549 | ) | — | |||||||
Cash at the beginning of the period | 855,972 | 855,972 | — | |||||||||
Cash at the end of the period | $ | 272,126 | $ | 57,423 | $ | — | ||||||
Supplemental disclosures of non-cash investing and financing activities: | ||||||||||||
Change in value of ordinary shares subject to possible redemption | $ | 34,323,180 | ||||||||||
Deferred offering costs included in accrued offering costs | $ | — | $ | 427,005 | ||||||||
Deferred offering costs paid by Sponsor in exchange for the issuance of Class B ordinary shares | $ | — | $ | 20,000 | ||||||||
Deferred offering costs paid through promissory note – related party | $ | — | $ | 178,120 |
March 31, 2021 (Unaudited) | As Previously Reported | Adjustment | As Restated | |||||||||
Class A Ordinary Shares subject to possible redemption | 364,569,240 | 135,430,760 | 500,000,000 | |||||||||
Class A ordinary shares | 1,354 | (1,354 | ) | 0 | ||||||||
Class B ordinary shares | 1,250 | 0 | 1,250 | |||||||||
Additional Paid - in Capital | 92,805,497 | (92,805,497 | ) | 0 | ||||||||
Accumulated Deficit | (87,808,092 | ) | (42,623,909 | ) | (130,432,001 | ) | ||||||
Total Shareholders’ equity (deficit) | 5,000,009 | (135,430,760 | ) | (130,430,751 | ) | |||||||
Number of Class A ordinary shares subject to possible redemption | 36,456,924 | 13,543,076 | 50,000,000 |
Three Months Ended March 31, 2021 (Unaudited) | As Previously Reported | Adjustment | As Restated | |||||||||
Supplemental Disclosure of Noncash Financing Activities: | ||||||||||||
Change in value of Class A ordinary shares subject to possible redemption | 43,191,790 | (43,191,790 | ) | 0 |
June 30, 2021 (Unaudited) | As Previously Reported | Adjustment | As Restated | |||||||||
Class A Ordinary Shares subject to possible redemption | 355,700,630 | 144,299,370 | 500,000,000 | |||||||||
Class A ordinary shares | 1,443 | (1,443 | ) | 0 | ||||||||
Class B ordinary shares | 1,250 | 0 | 1,250 | |||||||||
Additional Paid - in Capital | 101,674,018 | (101,674,018 | ) | 0 | ||||||||
Accumulated Deficit | (96,676,708 | ) | (42,623,909 | ) | (139,300,617 | ) | ||||||
Total Shareholders’ equity (deficit) | 5,000,003 | (144,299,370 | ) | (139,299,367 | ) | |||||||
Number of Class A ordinary shares subject to possible redemption | 35,570,063 | 14,429,937 | 50,000,000 |
Six Months Ended June 30, 2021 (Unaudited) | As Previously Reported | Adjustment | As Restated | |||||||||
Supplemental Disclosure of Noncash Financing Activities: | ||||||||||||
Change in value of Class A ordinary shares subject to possible redemption | 34,323,180 | (34,323,180 | ) | 0 |
Three Months Ended March 31, 2021 (Unaudited) | Earnings Per Share | |||||||||||
As Previously Reported | Adjustment | As Restated | ||||||||||
Diluted weighted average shares outstanding – Class A ordinary shares | 59,091,350 | (9,091,350 | ) | 50,000,000 | ||||||||
Basic earnings per share – Class A ordinary shares | 0.00 | 0.69 | 0.69 | |||||||||
Diluted earnings per share – Class A ordinary shares | 0.00 | 0.69 | 0.69 | |||||||||
Basic and diluted earnings per share – Class B ordinary shares | 3.45 | (2.76 | ) | 0.69 |
Three Months Ended June 30, 2021 (Unaudited) | Earnings Per Share | |||||||||||
As Previously Reported | Adjustment | As Restated | ||||||||||
Basic and diluted loss per share – Class A ordinary shares | 0.00 | (0.14 | ) | (0.14 | ) | |||||||
Basic and diluted loss per share – Class B ordinary shares | (0.71 | ) | 0.57 | (0.14 | ) |
Six Months Ended June 30, 2021 (Unaudited) | Earnings Per Share | |||||||||||
As Previously Reported | Adjustment | As Restated | ||||||||||
Basic and diluted earnings per share – Class A ordinary shares | 0.00 | 0.55 | 0.55 | |||||||||
Basic and diluted earnings per share – Class B ordinary shares | 2.74 | (2.19 | ) | 0.55 |
Gross proceeds | $ | 500,000,000 | ||
Less: | ||||
Proceeds allocated to Public Warrants | (15,272,898 | ) | ||
Class A ordinary shares issuance costs | (27,374,761 | ) | ||
Plus: | ||||
Accretion of carrying value to redemption value | 42,647,659 | |||
Class A ordinary shares subject to possible redemption | $ | 500,000,000 | ||
For the Three Months Ended June 30, 2021 | For the Six Months Ended June 30, 2021 | |||||||
Redeemable Class A Ordinary Shares | ||||||||
Numerator: Income allocable to Redeemable Class A Ordinary Shares | ||||||||
Interest income | $ | 7,599 | $ | 14,112 | ||||
Redeemable Net Income | $ | 7,599 | $ | 14,112 | ||||
Denominator: Weighted-Average Redeemable Class A Ordinary Shares | ||||||||
Redeemable Class A Ordinary Shares, Basic and Diluted | 50,000,000 | 50,000,000 | ||||||
Redeemable Net Income/Basic and Diluted Redeemable Class A Ordinary Shares | $ | 0.00 | $ | 0.00 | ||||
Non-Redeemable Class B ordinary shares | ||||||||
Numerator: Net income minus Redeemable Net Earnings | ||||||||
Net Income (loss) | $ | (8,868,616 | ) | $ | 34,323,181 | |||
Less: Redeemable Net Income (loss) | 7,599 | 14,112 | ||||||
Non-Redeemable Net Income (loss) | $ | (8,876,215 | ) | $ | 34,309,069 | |||
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares | ||||||||
Non-Redeemable Class B Ordinary Shares, Basic and Diluted | 12,500,000 | 12,500,000 | ||||||
Non-Redeemable Net Income (loss)/Basic and DilutedNon-Redeemable Class B Ordinary Shares | $ | (0.71 | ) | $ | 2.74 | |||
Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | For The Period From August 25, 2020 (Inception) Through September 30, 2020 | ||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | |||||||||||||||||||
Basic and diluted net income (loss) per ordinary share | ||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||
Allocation of net income (loss), as adjusted | $ | 39,508,266 | $ | 9,877,067 | $ | 66,966,811 | $ | 16,741,703 | $ | 0 | $ | (5,000 | ) | |||||||||||
Denominator: | ||||||||||||||||||||||||
Basic and diluted weighted average ordinary shares outstanding | 50,000,000 | 12,500,000 | 50,000,000 | 12,500,000 | 0 | 11,250,000 | ||||||||||||||||||
Basic and diluted net income (loss) per ordinary share | $ | 0.79 | $ | 0.79 | $ | 1.34 | $ | 1.34 | $ | 0.00 | $ | (0.00 | ) |
Level 1: | Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. | |
Level 2: | Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. | |
Level 3: | Unobservable inputs based on the Company’s assessment of the assumptions that market participants would use in pricing the asset or liability. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets held in trust account U.S. Treasury Securities | $ | 500,021,794 | $ | 0 | $ | 0 | $ | 500,021,794 | ||||||||
Liabilities: | ||||||||||||||||
Warrant liabilities | ||||||||||||||||
Public Warrants | $ | 23,617,000 | $ | 0 | $ | 0 | $ | 23,617,000 | ||||||||
Private Placement Warrants | 0 | 0 | 29,680,928 | 29,680,928 | ||||||||||||
Total warrant liabilities | $ | 23,617,000 | $ | 0 | $ | 29,680,928 | $ | 53,297,928 | ||||||||
FPA liability | $ | 0 | $ | 0 | $ | 12,368,995 | $ | 12,368,995 | ||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets held in trust account U.S. Treasury Securities | $ | 500,014,112 | $ | 0 | $ | 0 | $ | 500,014,112 | ||||||||
Liabilities: | ||||||||||||||||
Warrant liabilities | ||||||||||||||||
Public Warrants | $ | 33,335,500 | $ | 0 | $ | 0 | $ | 33,335,500 | ||||||||
Private Placement Warrants | 0 | 0 | 44,945,849 | 44,945,849 | ||||||||||||
Total warrant liabilities | $ | 33,335,500 | $ | 0 | $ | 44,945,849 | $ | 78,281,349 | ||||||||
FPA liability | $ | 0 | $ | 0 | $ | 43,723,743 | $ | 43,723,743 | ||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities: | ||||||||||||||||
Warrant liabilities | ||||||||||||||||
Public Warrants | $ | 54,202,500 | $ | 0 | $ | 0 | $ | 54,202,500 | ||||||||
Private Placement Warrants | $ | 0 | 0 | 48,677,457 | 48,677,457 | |||||||||||
Total warrant liabilities | $ | 54,202,500 | $ | 0 | $ | 48,677,457 | $ | 102,879,957 | ||||||||
FPA liability | $ | 54,310,054 | $ | 0 | $ | 0 | $ | 54,310,054 | ||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities: | ||||||||||||||||
Warrant liabilities | ||||||||||||||||
Public Warrants | $ | 54,202,500 | $ | 0 | $ | 0 | $ | 54,202,500 | ||||||||
Private Placement Warrants | 0 | 0 | 48,677,457 | 48,677,457 | ||||||||||||
Total warrant liabilities | $ | 54,202,500 | $ | 0 | $ | 48,677,457 | $ | 102,879,957 | ||||||||
FPA liability | $ | 54,310,054 | $ | 0 | $ | 0 | $ | 54,310,054 | ||||||||
Input | June 30, 2021 (Unaudited) | December 31, 2020 | September 30, 2021 (Unaudited) | December 31, 2020 | ||||||||||||
Risk-free interest rate | 0.87 | % | 0.36 | % | 0.98 | % | 0.36 | % | ||||||||
Expected term (years) | 5.00 | 5.00 | 5.00 | 5.00 | ||||||||||||
Expected volatility | 36.4 | % | 35.0 | % | 32.0 | % | 35.0 | % | ||||||||
Exercise price | $ | 11.50 | $ | 11.50 | $ | 11.50 | $ | 11.50 | ||||||||
Fair value of Class A ordinary shares | $ | 11.70 | $ | 12.86 | $ | 10.22 | $ | 12.86 |
Private Placement | Private Placement | |||||||
Fair value as of December 31, 2020 | $ | 48,677,457 | $ | 48,677,457 | ||||
Change in valuation inputs or other assumptions (1) | (3,731,608 | ) | (18,996,529 | ) | ||||
Fair value as of June 30, 2021 | $ | 44,945,849 | ||||||
Fair value as of September 30, 2021 | $ | 29,680,928 | ||||||
(1) | Represents the non-cash gain on the change in valuation of the Private Placement Warrants and is included in Gain on change in fair value of warrant liability in the unaudited condensed statement of operations. |
FPA Liability | FPA Liability | |||||||
Fair value as of December 31, 2020 | $ | 54,310,054 | $ | 54,310,054 | ||||
Change in valuation inputs or other assumptions (1) | (10,586,311 | ) | (41,941,059 | ) | ||||
Fair value as of June 30, 2021 | $ | 43,723,743 | ||||||
Fair value as of September 30, 2021 | $ | 12,368,995 | ||||||
(1) | Represents the non-cash gain on the change in valuation of the FPA liability and is included in Gain on change in fair value of FPA liability in the unaudited condensed statement of operations |
ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
ITEM 4. | CONTROLS AND PROCEDURES |
ITEM 1. | LEGAL PROCEEDINGS. |
ITEM 1A. | RISK FACTORS. |
ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. |
ITEM 3. | DEFAULTS UPON SENIOR SECURITIES. |
ITEM 4. | MINE SAFETY DISCLOSURES. |
ITEM 5. | OTHER INFORMATION. |
ITEM 6. |
* | Filed herewith. |
** | Furnished herewith. |
J2 HOLDINGS INC. (as successor by merger to Altimeter Growth Corp.) | ||||||
Date: | /s/ | |||||
Name: | Artawat Udompholkul (also known as John Cordova) | |||||
Title: | ||||||