☒ | 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 | 98-1583472 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification Number) | |
1701 Village Center Circle, | ||
Las Vegas, Nevada | 89134 | |
(Address of principal executive offices) | (Zip Code) |
Title of Each Class | Trading Symbols | Name of Each Exchange on Which Registered | ||
Units, each consisting of one Class A Ordinary Share and one-fourth of one Warrant | AUS.U | New York Stock Exchange | ||
Class A Ordinary Shares, par value $0.0001 per share | AUS | New York Stock Exchange | ||
Warrants, each whole Warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share | New York Stock Exchange |
Large Accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
Page | ||||||
3 | ||||||
Item 1. | 3 | |||||
Item 2. | ||||||
Item 4. | ||||||
Item 1A. | ||||||
Item 6. | ||||||
September 30, 2021 (Unaudited) | December 31, 2020 | |||||||
ASSETS | ||||||||
Cash | $ | 176,462 | $ | — | ||||
Prepaid expenses | 363,153 | — | ||||||
Other current assets | 15,524 | — | ||||||
Total current assets | 555,139 | — | ||||||
Deferred offering costs associated with proposed public offering | — | 181,669 | ||||||
Investments held in trust account | 690,000,000 | — | ||||||
Backstop asset | 2,212,251 | |||||||
Other assets | 147,251 | — | ||||||
Total assets | $ | 692,914,641 | $ | 181,669 | ||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 19,243 | $ | — | ||||
Accrued offering costs | 442,516 | 161,669 | ||||||
Accrued expenses | 2,061,048 | 0 | ||||||
Backstop placement fee payable to related party | 3,450,000 | — | ||||||
Due to related party | 17,450 | 25,000 | ||||||
Total current liabilities | 5,990,257 | 186,669 | ||||||
Deferred underwriting fees payable | 24,150,000 | — | ||||||
Derivative warrant liabilities | 48,112,499 | — | ||||||
Total liabilities | 78,252,756 | 186,669 | ||||||
Commitments and Contingencies (Note 5) | 0 | 0 | ||||||
Class A ordinary shares subject to possible redemption, 69,000,000 and -0- shares as of $10.00 redemption value2021 and December 31, 2020, respectively, at | 690,000,000 | — | ||||||
Shareholders’ Deficit | ||||||||
Preference shares, $0.0001 par value; 1,000,000 shares authorized; 0ne issued and outstanding | 0 | — | ||||||
Class A ordinary shares, $0.0001 par value; 800,000,000 shares authorized; 0ne issued and outstanding as of September 30, 2021 and December 31, 2020, respectively (excluding 69,000,000 shares subject to possible redemption as of September 30, 2021) | 0 | — | ||||||
Class B ordinary shares, $0.0001 par value; 80,000,000 shares authorized; 14,785,715 and 1 shares issued and outstanding as of September 30, 2021 and December 31, 2020 respectively | 1,479 | — | ||||||
Class C ordinary shares, $0.0001 par value; 80,000,000 shares authorized; 14,785,715 and -0- | 1,479 | — | ||||||
Additional paid-in capital | 0 | — | ||||||
Accumulated deficit | (75,341,073 | ) | (5,000 | ) | ||||
Total shareholders’ deficit | (75,338,115 | ) | (5,000 | ) | ||||
Total Liabilities and Shareholders’ Deficit | $ | 692,914,641 | $ | 181,669 | ||||
June 30, 2022 (Unaudited) | December 31, 2021 | |||||||
ASSETS | ||||||||
Cash | $ | 1,575,027 | $ | 3,968,177 | ||||
Prepaid expenses | 292,188 | 379,400 | ||||||
Other current assets | — | 15,524 | ||||||
Total current assets | 1,867,215 | 4,363,101 | ||||||
Cash held in Trust Account | 690,000,000 | 690,000,000 | ||||||
Other non-current assets | — | 55,717 | ||||||
Total Assets | $ | 691,867,215 | $ | 694,418,818 | ||||
LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION, AND SHAREHOLDERS’ DEFICIT | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 11,959 | $ | 12,555 | ||||
Due to related party | 32,116 | 82,116 | ||||||
Accrued offering costs | 442,516 | 442,516 | ||||||
Accrued expenses | 39,961 | 2,019,500 | ||||||
Total current liabilities | 526,552 | 2,556,687 | ||||||
Deferred underwriting fees payable | 24,150,000 | 24,150,000 | ||||||
Derivative warrant liabilities | 7,634,860 | 29,172,500 | ||||||
Total liabilities | 32,311,412 | 55,879,187 | ||||||
Commitments and Contingencies (Note 6) | 0 | 0 | ||||||
Class A ordinary shares subject to possible redemption, 69,000,000 shares at $10.00 redemption value | 690,000,000 | 690,000,000 | ||||||
Shareholders’ deficit | ||||||||
Preference shares, $0.0001 par value; 1,000,000 shares authorized; 0ne issued and outstanding | — | — | ||||||
Class A ordinary shares, $0.0001 par value; 800,000,000 shares authorized; 0ne issued and outstanding (excluding 69,000,000 shares subject to possible redemption) | — | — | ||||||
Class B ordinary shares, $0.0001 par value; 80,000,000 shares authorized; 14,785,715 shares issued and outstanding at June 30, 2022 and December 31, 2021 | 1,479 | 1,479 | ||||||
Class C ordinary shares, $0.0001 par value; 80,000,000 shares authorized; 14,785,715 shares issued and outstanding at June 30, 2022 and December 31, 2021 | 1,479 | 1,479 | ||||||
Additional paid-in capital | — | — | ||||||
Accumulated deficit | (30,447,155 | ) | (51,463,327 | ) | ||||
Total shareholders’ deficit | (30,444,197 | ) | (51,460,369 | ) | ||||
Total Liabilities, Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | $ | 691,867,215 | $ | 694,418,818 | ||||
Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | |||||||
Formation and operating costs | $ | 2,326,673 | $ | 3,079,072 | ||||
Loss from operations | (2,326,673 | ) | (3,079,072 | ) | ||||
Offering costs allocated to warrant liability | — | (1,605,246 | ) | |||||
Change in fair value of warrant liability | 1,111,334 | (3,677,499 | ) | |||||
Change in fair value of backstop liability | 5,251,008 | 2,212,251 | ||||||
Backstop placement fee expense | — | (3,450,000 | ) | |||||
Net i ncome (l oss) | $ | 4,035,669 | $ | (9,599,566 | ) | |||
Weighted average shares outstanding of Class A ordinary shares subject to possible redemption, basic and diluted , as restated | 69,000,000 | 53,835,165 | ||||||
Basic and diluted net income (loss) per share, Class A ordinary shares subject to possible redemption , as restated | $ | 0.04 | $ | (0.12 | ) | |||
Weighted average shares outstanding of Class B non-redeemable ordinary shares, basic and diluted , as | 14,785,715 | 14,785,715 | ||||||
Basic and diluted net income (loss) per share, Class B non-redeemable ordinary shares , as | $ | 0.04 | $ | (0.12 | ) | |||
Weighted average shares outstanding of Class C non-redeemable ordinary shares, basic and diluted , as | 14,785,715 | 14,785,715 | ||||||
Basic and diluted net income (loss) per share, Class C non-redeemable ordinary shares , as restated | $ | 0.04 | $ | (0.12 | ) | |||
Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | |||||||||||||
General and administrative expenses | $ | 269,885 | $ | 704,359 | $ | 521,468 | $ | 752,399 | ||||||||
Loss from operations | (269,885 | ) | (704,359 | ) | (521,468 | ) | (752,399 | ) | ||||||||
Other income (expense): | ||||||||||||||||
Change in fair value of derivative warrant liabilities | 7,645,973 | (690,000 | ) | 21,537,640 | (4,788,833 | ) | ||||||||||
Loss on change in fair value of backstop liability | — | (3,038,757 | ) | — | (3,038,757 | ) | ||||||||||
Backstop placement fee expense | — | (3,450,000 | ) | — | (3,450,000 | ) | ||||||||||
Transaction costs allocation to derivative warrant liabilities | — | — | — | (1,605,246 | ) | |||||||||||
Net income (loss) | $ | 7,376,088 | $ | (7,883,116 | ) | $ | 21,016,172 | $ | (13,635,235 | ) | ||||||
Weighted average shares outstanding of Class A ordinary shares subject to possible redemption, basic and diluted | 69,000,000 | 69,000,000 | 69,000,000 | 46,127,072 | ||||||||||||
Basic and diluted net income (loss) per share, Class A ordinary shares subject to possible redemption | $ | 0.07 | $ | (0.08 | ) | $ | 0.21 | $ | (0.18 | ) | ||||||
Weighted average shares outstanding of Class B ordinary shares, basic and diluted | 14,785,715 | 14,785,715 | 14,785,715 | 14,785,715 | ||||||||||||
Basic and diluted net income (loss) per share, Class B ordinary shares | $ | 0.07 | $ | (0.08 | ) | $ | 0.21 | $ | (0.18 | ) | ||||||
Weighted average shares outstanding of Class C ordinary shares, basic and diluted | 14,785,715 | 14,785,715 | 14,785,715 | 14,785,715 | ||||||||||||
Basic and diluted net income (loss) per share, Class C ordinary shares | $ | 0.07 | $ | (0.08 | ) | $ | 0.21 | $ | (0.18 | ) | ||||||
Ordinary Shares | ||||||||||||||||||||||||||||
Class B | Class C | |||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Additional Paid-In Capital | Accumulated Deficit | Total Shareholders’ Deficit | ||||||||||||||||||||||
Balance as of January 1, 2022 | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | — | $ | (51,463,327 | ) | $ | (51,460,369 | ) | ||||||||||||||
Net income | — | — | — | — | — | 13,640,084 | 13,640,084 | |||||||||||||||||||||
Balance as of March 31, 2022 | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | — | $ | (37,823,243 | ) | $ | (37,820,285 | ) | ||||||||||||||
Net income | — | — | — | — | — | 7,376,088 | 7,376,088 | |||||||||||||||||||||
Balance as of June 30, 2022 | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | — | $ | (30,447,155 | ) | $ | (30,444,197 | ) | ||||||||||||||
Ordinary Shares | ||||||||||||||||||||||||||||
Class B | Class C | |||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Additional Paid-In Capital | Accumulated Deficit | Total Shareholders’ Deficit | ||||||||||||||||||||||
Balance as of January 1, 2021 | 1 | $ | — | — | $ | — | $ | — | $ | (5,000 | ) | $ | (5,000 | ) | ||||||||||||||
Issuance of Class B and Class C ordinary shares to Sponsor | 14,785,715 | 1,479 | 14,785,715 | 1,479 | 22,042 | — | 25,000 | |||||||||||||||||||||
Cancellation of Class B ordinary share to Sponsor | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Adjustment of Class A ordinary shares to redemption value | — | — | — | — | (22,042 | ) | (65,736,507 | ) | (65,758,549 | ) | ||||||||||||||||||
Net loss | — | — | — | — | — | (5,752,119 | ) | (5,752,119 | ) | |||||||||||||||||||
Balance as of March 31, 2021 | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | — | $ | (71,493,626 | ) | $ | (71,490,668 | ) | ||||||||||||||
Net loss | — | — | — | — | — | (7,883,116 | ) | (7,883,116 | ) | |||||||||||||||||||
Balance as of June 30, 2021 | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | — | $ | (79,376,742 | ) | $ | (79,373,784 | ) | ||||||||||||||
Ordinary Shares | ||||||||||||||||||||||||||||
Class B | Class C | |||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Additional Paid- In Capital | Accumulated Deficit | Total Shareholders’ Deficit | ||||||||||||||||||||||
Balance as of January 1, 2021 | 1 | $ | 0 | 0 | $ | 0 | $ | 0 | $ | (5,000 | ) | $ | (5,000 | ) | ||||||||||||||
Issuance of Class B and Class C ordinary shares to Sponsor | 14,785,715 | 1,479 | 14,785,715 | 1,479 | 22,042 | — | 25,000 | |||||||||||||||||||||
Cancellation of Class B ordinary share to Sponsor | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Sale of Class A shares, net of $65,758,549 issuance costs | — | — | — | — | — | — | — | |||||||||||||||||||||
Adjustment of Class A ordinary shares to redemption valu e | — | — | — | — | (22,042 | ) | (65,736,507 | ) | (65,758,549 | ) | ||||||||||||||||||
Net loss | — | — | — | — | — | (5,752,119 | ) | (5,752,119 | ) | |||||||||||||||||||
Balance as of March 31, 2021 , as restated | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | 0 | $ | (71,493,626 | ) | $ | (71,490,668 | ) | ||||||||||||||
Net loss | — | — | — | — | — | (7,883,116 | ) | (7,883,116 | ) | |||||||||||||||||||
Balance as of June 30, 2021 , as restated | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | 0 | $ | (79,376,742 | ) | $ | (79,373,784 | ) | ||||||||||||||
Net income | — | — | — | — | — | 4,035,669 | 4,035,669 | |||||||||||||||||||||
Balance as of September 30, 2021 | 14,785,715 | $ | 1,479 | 14,785,715 | $ | 1,479 | $ | 0 | $ | (75,341,073 | ) | $ | (75,338,115 | ) | ||||||||||||||
For The Six Months Ended June 30, 2022 | For The Six Months Ended June 30, 2021 | |||||||
Cash Flows from Operating Activities | ||||||||
Net income (loss) | $ | 21,016,172 | $ | (13,635,235 | ) | |||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
(Gain) Loss on change in fair value of warrant liability | (21,537,640 | ) | 4,788,833 | |||||
Loss on change in fair value of backstop liability | — | 3,038,757 | ||||||
Offering cost allocated to warrant liability | — | 1,605,246 | ||||||
Backstop placement fee payable to related party | — | 3,450,000 | ||||||
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses | 87,212 | (363,153 | ) | |||||
Other assets | 71,241 | (254,309 | ) | |||||
Accounts payable | (596 | ) | 23,843 | |||||
Accrued expenses | (1,979,539 | ) | 27,500 | |||||
Due to related party | (50,000 | ) | 14,300 | |||||
Net cash used in operating activities | (2,393,150 | ) | (1,304,218 | ) | ||||
Cash Flows from Investing Activities | ||||||||
Investment of cash into Trust Account | — | (690,000,000 | ) | |||||
Net cash used in investing activities | — | (690,000,000 | ) | |||||
Cash Flows from Financing Activities | ||||||||
Repayment of promissory note - related party | — | (191,827 | ) | |||||
Proceeds from sale of Units, net of deferred underwriting fees paid | — | 676,200,000 | ||||||
Proceeds from sale of Private Placement Warrants | — | 15,800,000 | ||||||
Offering costs paid | — | (124,452 | ) | |||||
Net cash provided by financing activities | — | 691,683,721 | ||||||
Net (decrease) increase in cash | (2,393,150 | ) | 379,503 | |||||
Cash - beginning of period | 3,968,177 | — | ||||||
Cash - end of period | $ | 1,575,027 | $ | 379,503 | ||||
Supplemental disclosure of noncash investing and financing activities: | ||||||||
Issuance of Class B and Class C ordinary shares to Sponsor as settlement of due to related party | $ | — | $ | 25,000 | ||||
Deferred offering costs included in accrued offering costs | — | 442,516 | ||||||
Offering costs paid through promissory note - related party | — | 186,827 | ||||||
Deferred underwriting fees payable | — | 24,150,000 |
Cash Flows from Operating Activities: | ||||
Net loss | $ | (9,599,566 | ) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Loss on change in fair value of warrant liability | 3,677,499 | |||
Gain on change in fair value of backstop asset | (2,212,251 | ) | ||
Offering cost allocated to warrant liability | 1,605,246 | |||
Backstop placement fee payable to related party | 3,450,000 | |||
Changes in operating assets and liabilities: | ||||
Prepaid expenses | (363,153 | ) | ||
Other assets | 18,894 | |||
Accounts payable | 19,243 | |||
Accrued expenses | 2,341,895 | |||
Net cash used in operating activities | (1,062,193 | ) | ||
Cash Flows from Investing Activities: | ||||
Investment of cash into Trust Account | (690,000,000 | ) | ||
Net cash used in investing activities | (690,000,000 | ) | ||
Cash Flows from Financing Activities: | ||||
Repayment of promissory note - related party | (191,827 | ) | ||
Advances from related party | 184,277 | |||
Proceeds from sale of Units, net of offering costs | 675,446,205 | |||
Proceeds from Private Placement Warrants | 15,800,000 | |||
Net cash provided by financing activities | 691,238,655 | |||
Net increase in cash | 176,462 | |||
Cash - beginning of period | 0— | |||
Cash - end of period | $ | 176,462 | ||
Supplemental disclosure of noncash investing and financing activities: | ||||
Initial classification of derivative warrant liabilities | $ | 47,489,666 | ||
Deferred underwriting fees payable | $ | 24,150,000 | ||
Issuance of Class B and Class C ordinary shares to Sponsor as settlement of due to related party | $ | 25,000 | ||
Deferred offering costs included in accrued expenses | $ | 442,516 | ||
Deferred offering costs paid through promissory note - related party | $ | 186,827 | ||
March 2, 2021 | ||||||||||||
As reported | Adjustment | Restated | ||||||||||
Total liabilities | $ | 72,100,148 | $ | 4,325 | $ | 72,104,473 | ||||||
Class A ordinary shares subject to possible redemption (temporary equity) | 614,644,014 | 75,355,986 | 690,000,000 | |||||||||
Shareholders’ Equity (Deficit): | ||||||||||||
Class A ordinary shares | 800 | (800 | ) | 0 | ||||||||
Additional paid-in capital | 9,666,842 | (9,666,842 | ) | 0 | ||||||||
Accumulated deficit | (4,670,591 | ) | (65,692,669 | ) | (70,363,260 | ) | ||||||
Total Shareholders’ Equity (Deficit) | $ | 5,000,009 | $ | (75,360,311 | ) | $ | (70,360,302 | ) | ||||
March 31, 2021 (unaudited) | ||||||||||||
As reported | Adjustment | Restated | ||||||||||
Class A ordinary shares subject to possible redemption (temporary equity) | 613,509,327 | 76,490,673 | 690,000,000 | |||||||||
Shareholders’ Equity (Deficit): | ||||||||||||
Class A ordinary shares | 765 | (765 | ) | 0 | ||||||||
Additional paid-in capital | 10,753,401 | (10,753,401 | ) | 0 | ||||||||
Accumulated deficit | (5,757,119 | ) | (65,736,507 | ) | (71,493,626 | ) | ||||||
Total Shareholders’ Equity (Deficit) | 5,000,005 | (76,490,673 | ) | (71,490,668 | ) | |||||||
For the three months ended March 31, 2021 (unaudited) | ||||||||||||
As reported | Adjustment | Restated | ||||||||||
Statement of Operations | ||||||||||||
Net loss | $ | (5,752,119 | ) | $ | 0 | $ | (5,752,119 | ) | ||||
Weighted average shares outstanding of Class A ordinary shares, basic and diluted | 69,000,000 | (46,000,000 | ) | 23,000,000 | ||||||||
Basic and diluted net loss per ordinary share, Class A | $ | 0 | $ | (0.11 | ) | $ | (0.11 | ) | ||||
Weighted average shares outstanding of Class B and Class C ordinary shares, basic and diluted | 29,571,430 | 29,571,430 | 0 | |||||||||
Basic and diluted net loss per Class B and Class C ordinary share | $ | (0.19 | ) | $ | 0.19 | $ | 0 | |||||
Weighted average shares outstanding of Class B ordinary shares, basic and diluted | 0 | 14,785,715 | 14,785,715 | |||||||||
Basic and diluted net loss per Class B ordinary share | $ | 0 | $ | (0.11 | ) | $ | (0.11 | ) | ||||
Weighted average shares outstanding of Class C ordinary shares, basic and diluted | 0 | 14,785,715 | 14,785,715 | |||||||||
Basic and diluted net loss per Class C ordinary share | $ | 0 | $ | (0.11 | ) | $ | (0.11 | ) | ||||
Statement of Cash Flows | ||||||||||||
Initial classification of Class A ordinary shares subject to possible redemption | 614,644,014 | (614,644,014 | ) | 0 |
June 30, 2021 (unaudited) | ||||||||||||
As reported | Adjustment | Restated | ||||||||||
Class A ordinary shares subject to possible redemption (temporary equity) | $ | 605,626,210 | $ | 84,373,790 | $ | 690,000,000 | ||||||
Shareholders’ Equity (Deficit): | ||||||||||||
Class A ordinary shares | 844 | (844 | ) | 0 | ||||||||
Additional paid-in capital | 18,636,440 | (18,636,440 | ) | 0 | ||||||||
Accumulated deficit | (13,640,235 | ) | (65,736,506 | ) | (79,376,741 | ) | ||||||
Total Shareholders’ Equity (Deficit) | $ | 5,000,007 | $ | (84,373,790 | ) | $ | (79,373,783 | ) | ||||
For the three months ended June 30, 2021 (unaudited) | For the six months ended June 30, 2021 (unaudited) | |||||||||||||||||||||||
As reported | Adjustment | Restated | As reported | Adjustment | Restated | |||||||||||||||||||
Statement of Operations | ||||||||||||||||||||||||
Net loss | $ | (7,883,116 | ) | $ | 0 | $ | (7,883,116 | ) | $ | (13,635,235 | ) | $ | 0 | $ | (13,635,235 | ) | ||||||||
Weighted average shares outstanding of Class A ordinary shares, basic and diluted | 69,000,000 | 0 | 69,000,000 | 69,000,000 | (22,872,928 | ) | 46,127,072 | |||||||||||||||||
Basic and diluted net loss per ordinary share, Class A | $ | 0 | $ | (0.08 | ) | $ | (0.08 | ) | $ | 0 | $ | (0.18 | ) | $ | (0.18 | ) | ||||||||
Weighted average shares outstanding of Class B and Class C ordinary shares, basic and diluted | 29,571,430 | (29,571,430 | ) | 0 | 29,571,430 | (29,571,430 | ) | 0 | ||||||||||||||||
Basic and diluted net loss per Class B and Class C ordinary share | $ | (0.27 | ) | $ | 0.27 | $ | 0 | $ | (0.46 | ) | $ | 0.46 | 0 | |||||||||||
Weighted average shares outstanding of Class B ordinary shares, basic and diluted | 0 | 14,785,715 | 14,785,715 | 0 | 14,785,715 | 14,785,715 | ||||||||||||||||||
Basic and diluted net loss per Class B ordinary share | $ | 0 | $ | (0.08 | ) | $ | (0.08 | ) | $ | 0 | $ | (0.18 | ) | $ | (0.18 | ) | ||||||||
Weighted average shares outstanding of Class C ordinary | 0 | 14,785,715 | 14,785,715 | 0 | 14,785,715 | 14,785,715 | ||||||||||||||||||
Basic and diluted net loss per Class C ordinary share | $ | 0 | $ | (0.08 | ) | $ | (0.08 | ) | $ | 0 | $ | (0.18 | ) | $ | (0.18 | ) | ||||||||
Statement of Cash Flows | ||||||||||||||||||||||||
Initial classification of Class A ordinary shares subject to possible redemption | N/A | N/A | N/A | 614,644,014 | (614,644,014 | ) | 0 | |||||||||||||||||
Change in value of class A ordinary shares subject to possible redemption | N/A | N/A | N/A | (9,017,804 | ) | 9,017,804 | 0 |
Gross proceeds from sale of Class A ordinary shares | $ | 690,000,000 | ||
Less: Allocation to public warrants | (28,635,000 | ) | ||
Less: Issuance costs attributable to Class A ordinary shares | (37,123,549 | ) | ||
Adjustment of Class A ordinary shares to redemption value | 65,758,549 | |||
Class A ordinary shares subject to possible redemption | $ | 690,000,000 | ||
For the three months ended September 30, 2021 | For the nine months ended September 30, 2021 | |||||||
(Unaudited) | (Unaudited) | |||||||
Redeemable Class A Ordinary Shares | ||||||||
Net earnings (loss) allocable to redeemable Class A ordinary shares | $ | 2,824,969 | $ | (6,196,084) | ||||
Basic and diluted weighted average shares outstanding, redeemable Class A ordinary shares | 69,000,000 | 53,835,165 | ||||||
Basic and diluted net earnings (loss) per share, redeemable Class A ordinary shares | $ | 0.04 | $ | (0.12 | ) | |||
Non-Redeemable Class B and Class C Ordinary Shares | ||||||||
Net earnings (loss) allocable to non-redeemable Class B ordinary shares | $ | 605,350 | $ | (1,701,741 | ) | |||
Basic and diluted weighted average shares outstanding, non-redeemable Class B ordinary shares | 14,785,715 | 14,785,715 | ||||||
Basic and diluted net earnings (loss) per share, non-redeemable Class B ordinary shares | $ | 0.04 | $ | (0.12 | ) | |||
Net earnings (loss) allocable to non-redeemable Class C ordinary share s | $ | 605,350 | $ | (1,701,741 | ) | |||
Basic and diluted weighted average shares outstanding, non-redeemable Class C ordinary share s | 14,785,715 | 14,785,715 | ||||||
Basic and diluted net earnings (loss) per share, n on-r edeemable Class C | $ | 0.04 | $ | (0.12 | ) | |||
For The Three Months Ended June 30, 2022 (Unaudited) | For The Three Months Ended June 30, 2021 (Unaudited) | For The Six Months Ended June 30, 2022 (Unaudited) | For The Six Months Ended June 30, 2021 (Unaudited) | |||||||||||||
Class A Ordinary Shares Subject to Possible Redemption | ||||||||||||||||
Net earnings (loss) allocable to Redeemable Class A Ordinary Shares | $ | 5,163,262 | $ | (5,518,181 | ) | $ | 14,711,320 | $ | (8,308,665 | ) | ||||||
Basic and diluted weighted average shares outstanding, Class A ordinary shares | 69,000,000 | 69,000,000 | 69,000,000 | 46,127,072 | ||||||||||||
Basic and diluted net earnings (loss) per share, Class A ordinary shares subject to possible redemption | $ | 0.07 | $ | (0.08 | ) | $ | 0.21 | $ | (0.18 | ) | ||||||
Class B Ordinary Shares | ||||||||||||||||
Net earnings (loss) allocable to Class B Ordinary Shares | $ | 1,106,413 | $ | (1,182,467 | ) | $ | 3,152,426 | $ | (2,663,285 | ) | ||||||
Basic and diluted weighted average shares outstanding, Class B ordinary shares | 14,785,715 | 14,785,715 | 14,785,715 | 14,785,715 | ||||||||||||
Basic and diluted net earnings (loss) per share, Class B | $ | 0.07 | $ | (0.08 | ) | $ | 0.21 | $ | (0.18 | ) | ||||||
Class C Ordinary Shares | ||||||||||||||||
Net earnings (loss) allocable to Class C Ordinary Shares | $ | 1,106,413 | $ | (1,182,467 | ) | $ | 3,152,426 | $ | (2,663,285 | ) | ||||||
Basic and diluted weighted average shares outstanding, Class C ordinary shares | 14,785,715 | 14,785,715 | 14,785,715 | 14,785,715 | ||||||||||||
Basic and diluted net earnings (loss) per share, Class C | $ | 0.07 | $ | (0.08 | ) | $ | 0.21 | $ | (0.18 | ) | ||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Backstop Asset | $ | — | $ | 2,212,251 | $ | — | $ | 2,212,251 | ||||||||
$ | 0 | $ | 2,212,251 | $ | — | $ | 2,212,251 | |||||||||
Liabilities: | ||||||||||||||||
Public Warrants | $ | 29,152,500 | $ | — | $ | — | $ | 29,152,500 | ||||||||
Private Placement Warrants | — | 0 | 18,959,999 | 18,959,999 | ||||||||||||
Total liabilities | $ | 29,152,500 | $ | 0 | $ | 18,959,999 | $ | 48,112,499 | ||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities: | ||||||||||||||||
Public Warrants | $ | 4,740,300 | $ | — | $ | — | $ | 4,740,300 | ||||||||
Private Placement Warrants | — | 2,894,560 | — | 2,894,560 | ||||||||||||
Total liabilities | $ | 4,740,300 | $ | 2,894,560 | $ | — | $ | 7,634,860 | ||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities: | ||||||||||||||||
Public Warrants | $ | 18,112,500 | $ | — | $ | — | $ | 18,112,500 | ||||||||
Private Placement Warrants | — | 11,060,000 | — | 11,060,000 | ||||||||||||
Total liabilities | $ | 18,112,500 | $ | 11,060,000 | $ | — | $ | 29,172,500 | ||||||||
Public Warrant Liability | Private Placement Warrant Liability | Total | ||||||||||
Fair value, March 2, 2021 | $ | (28,635,000 | ) | $ | (18,854,666 | ) | $ | (47,489,666 | ) | |||
Recognized loss on change in fair value | (517,500 | ) | (526,667 | ) | (1,044,167 | ) | ||||||
Fair value, March 31, 2021 | (29,152,500 | ) | (19,381,333 | ) | (48,533,833 | ) | ||||||
Transfer to level 1 | 29,152,500 | — | 29,152,500 | |||||||||
Fair value, June 30, 2021 | — | (19,381,333 | ) | (19,381,333 | ) | |||||||
Recognized gain on change in fair value | — | 421,334 | 421,334 | |||||||||
Fair value, September 30, 2021 | $ | — | $ | (18,959,999 | ) | $ | (18,959,999 | ) | ||||
ITEM 4. | CONTROLS AND PROCEDURES |
ITEM 1A. | RISK FACTORS. |
ITEM 6. | EXHIBITS. |
* | Filed herewith. |
** | Furnished. |
AUSTERLITZ ACQUISITION CORPORATION I | ||||||
Date: | /s/ David W. Ducommun | |||||
Name: | David W. Ducommun | |||||
Title: | President | |||||
( Principal Executive Officer | ||||||
Date: | /s/ Bryan Coy | |||||
Name: | Bryan Coy | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial and Accounting Officer) |