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 |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) | |
Square, |
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(Address of principal executive offices) |
(Zip Code) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ||||
Emerging growth company |
Page |
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Item 1. |
1 |
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1 |
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2 |
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3 |
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4 |
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5 |
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Item 2. |
15 |
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Item 3. |
17 |
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Item 4. |
17 |
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Item 1. |
18 |
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Item 1A. |
18 |
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Item 2. |
18 |
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Item 3. |
18 |
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Item 4. |
18 |
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Item 5. |
18 |
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Item 6. |
18 |
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19 |
June 30, 2021 |
December 31, 2020 |
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(Unaudited) |
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ASSETS |
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Current assets |
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Cash |
$ | $ | ||||||
Prepaid expenses |
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Total Current Assets |
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Cash and investments held in Trust Account |
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TOTAL ASSETS |
$ |
$ |
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
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Current liabilities—accrued expenses |
$ | $ | ||||||
Warrant liability |
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Deferred underwriting fee payable |
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Total Liabilities |
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Commitments and Contingencies |
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Class A ordinary shares subject to possible redemption, |
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Shareholders’ Equity |
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Preference shares, $ |
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Class A ordinary shares, $ |
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Class B ordinary shares, $ |
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Additional paid-in capital |
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Accumulated deficit |
( |
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Total Shareholders’ Equity |
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TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$ |
$ |
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Three Months Ended June 30, 2021 |
Six Months Ended June 30, 2021 |
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General and administrative expenses |
$ | $ | ||||||
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Loss from operations |
( |
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( |
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Other (expense) income: |
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Change in fair value of warrant liability |
( |
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Interest earned on investments held in Trust Account |
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Other (expense) income, net |
( |
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Net (loss) income |
$ |
( |
$ |
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Weighted average shares outstanding of Class A redeemable ordinary shares |
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Basic and diluted net income per ordinary share, Class A redeemable ordinary shares |
$ |
$ |
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Weighted average shares outstanding of Class B non-redeemable ordinary shares |
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Basic and diluted net (loss) income per ordinary share, Class B non-redeemable ordinary shares |
$ |
( |
$ |
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Class A Ordinary Shares |
Class B Ordinary Shares |
Additional Paid in Capital |
Accumulated Deficit |
Total Shareholders’ Equity |
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Shares |
Amount |
Shares |
Amount |
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Balance — January 1, 2021 |
$ |
$ |
$ |
$ |
( |
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$ |
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Change in Class A ordinary shares subject to possible redemption |
( |
) | ( |
) | ( |
) | — | ( |
) | |||||||||||||||||||
Net income |
— | — | — | — | — | |||||||||||||||||||||||
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Balance — March 31, 2021 |
$ |
$ |
$ |
$ |
( |
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$ |
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Change in Class A ordinary shares subject to possible redemption |
— | |||||||||||||||||||||||||||
Net loss |
— | — | — | — | — | ( |
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Balance — June 30, 2021 |
$ |
$ |
$ |
$ |
( |
) |
$ |
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Cash Flows from Operating Activities: |
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Net income |
$ | |||
Adjustments to reconcile net income to net cash used in operating activities: |
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Interest earned on investments held in Trust Account |
( |
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Change in fair value of warrant liability |
( |
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Changes in operating assets and liabilities: |
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Prepaid expenses |
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Accrued expenses |
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Net cash used in operating activities |
( |
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Net Change in Cash |
( |
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Cash – Beginning |
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Cash – Ending |
$ |
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Non-Cash Investing and Financing Activities: |
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Change in value of Class A ordinary shares subject to possible redemption |
$ | |||
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Three Months Ended June 30, 2021 |
Six Months Ended June 30, 2021 |
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Redeemable Class A Ordinary Shares |
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Numerator: Earnings allocable to Redeemable Class A Ordinary Shares |
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Interest Income |
$ | $ | ||||||
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Redeemable Net Earnings |
$ | $ | ||||||
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Denominator: Weighted Average Redeemable Class A Ordinary Shares |
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Redeemable Class A Ordinary Shares, Basic and Diluted |
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Earnings/Basic and Diluted Redeemable Class A Ordinary Shares |
$ | $ | ||||||
Non-Redeemable Class B Ordinary Shares |
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Numerator: Net Income (Loss) minus Redeemable Net Earnings |
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Net Income (Loss) |
$ | ( |
) | $ | ||||
Redeemable Net Earnings |
( |
) | ( |
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Non-Redeemable Net Income (Loss) |
$ | ( |
) | $ | ||||
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares |
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Non-Redeemable Class B Ordinary Shares, Basic and Diluted (1) |
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Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares |
$ | ( |
) | $ |
(1) | As of June 30, 2021, basic and diluted shares are the same as there are no non-redeemable securities that are dilutive to the Company’s shareholders. |
• | in whole and not in part; |
• | at a price of $ |
• | upon not less than |
• | if, and only if, the reported last sales price of the Company’s Class A ordinary shares equals or exceeds $ |
• | in whole and not in part; |
• | at a price equal to a number of Class A ordinary shares to be determined, based on the redemption date and the fair market value of the Company’s Class A ordinary shares; |
• | upon a minimum of |
• | if, and only if, the last reported sale price of the Company’s Class A ordinary shares equals or exceeds $ |
• | if, and only if, the Private Placement Warrants are also concurrently exchanged at the same price (equal to a number of Class A ordinary shares) as the outstanding Public Warrants; and |
• | if, and only if, there is an effective registration statement covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating thereto available throughout the |
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 our assessment of the assumptions that market participants would use in pricing the asset or liability. |
Held-To-Maturity |
Amortized Cost |
Gross Holding Gain |
Fair Value |
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December 31, 2020 |
U.S. Treasury Securities (Mature |
$ | $ | $ | ||||||||||
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Description |
Level |
June 30, |
December 31, |
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Assets: |
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Held-to-Maturity |
1 | $ | $ | |||||||||||||
U.S. Treasury Securities Money Market Fund |
1 | $ | ||||||||||||||
Liabilities: |
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Warrant Liability – Public Warrants |
1 | $ | $ | |||||||||||||
Warrant Liability – Private Placement Warrants |
2 | $ | $ |
AEA-BRIDGES IMPACT CORP. | ||||||
Date: August 6, 2021 | /s/ John Garcia | |||||
Name: | John Garcia | |||||
Title: | Chairman, Co-Chief Executive Officer, and Director | |||||
Date: August 6, 2021 | /s/ Michele Giddens | |||||
Name: | Michele Giddens | |||||
Title: | Co-Chief Executive Officer and Director |