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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PART 1 – FINANCIAL INFORMATION |
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Item 1. | 1 | |||||
1 | ||||||
2 | ||||||
3 | ||||||
4 | ||||||
5 | ||||||
Item 2. | 20 | |||||
Item 3. | 23 | |||||
Item 4. | 23 | |||||
PART II – OTHER INFORMATION |
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Item 1. | 25 | |||||
Item 1A. | 25 | |||||
Item 2. | 25 | |||||
Item 3. | 25 | |||||
Item 4. | 25 | |||||
Item 5. | 25 | |||||
Item 6. | 26 | |||||
27 |
June 30, 2022 |
December 31, 2021 |
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(Unaudited) |
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ASSETS |
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Current assets |
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Cash |
$ | $ | ||||||
Due from Sponsor |
— | |||||||
Prepaid expenses |
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Total Current Assets |
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Investments held in Trust Account |
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TOTAL ASSETS |
$ |
$ |
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LIABILITIES AND SHAREHOLDERS’ DEFICIT |
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Current liabilities—accounts payable and accrued expenses |
$ | $ | ||||||
Derivative warrant liabilities |
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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, $ and $ er share redemption value as of June 30, 2022 and December 31, 2021 , respectively |
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Shareholders’ Deficit |
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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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Accumulated deficit |
( |
) | ( |
) | ||||
Total Shareholders’ Deficit |
( |
) |
( |
) | ||||
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT |
$ |
$ |
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Three Months Ended June 30, |
Six Months Ended June 30, |
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2022 |
2021 |
2022 |
2021 |
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Formation and operating costs |
$ | $ | $ | $ | ||||||||||||
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Loss from operations |
( |
) |
( |
) |
( |
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( |
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Other income (expense): |
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Interest earned on investments held in Trust Account |
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Change in fair value of derivative warrant liabilities |
( |
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Total other income (expense), net |
( |
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Net income (loss) |
$ |
$ |
( |
) |
$ |
$ |
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Weighted average shares outstanding of Class A ordinary shares |
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Basic and diluted net income (loss) per share, Class A |
$ |
$ |
( |
) | $ |
$ |
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Weighted average shares outstanding of Class B ordinary shares |
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Basic and diluted net income (loss) per share, Class B |
$ |
$ |
( |
) | $ |
$ |
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Class A Ordinary Shares |
Class B Ordinary Shares |
Additional Paid in Capital |
Accumulated Deficit |
Total Shareholders’ Deficit |
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Shares |
Amount |
Shares |
Amount |
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Balance — December 31, 2021 |
— | $ | — | $ |
$ | — | $ |
( |
) |
$ |
( |
) | ||||||||||||||||
Net income |
— | — | — | — | — | |||||||||||||||||||||||
Balance — March 31, 2022 |
— |
$ |
— |
$ |
$ | — | $ |
( |
) |
$ |
( |
) | ||||||||||||||||
Accretion for Class A ordinary shares to redemption amoun t |
— |
— |
— |
— |
— |
( |
) |
( |
) | |||||||||||||||||||
Net income |
— | — | — | — | — | |||||||||||||||||||||||
Balance — June 30, 2022 |
— |
$ |
— |
$ |
$ |
— |
$ |
( |
) |
$ |
( |
) | ||||||||||||||||
Class A Ordinary Shares |
Class B Ordinary Shares |
Additional Paid in Capital |
Accumulated Deficit |
Total Shareholders’ Deficit |
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Shares |
Amount |
Shares |
Amount |
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Balance — December 31, 2020 |
— | $ | — | $ |
$ | — | $ |
( |
) |
$ |
( |
) | ||||||||||||||||
Net income |
— | — | — | — | — | |||||||||||||||||||||||
Balance — March 31, 2021 |
— | $ | — | $ |
$ | — | $ |
( |
) |
$ |
( |
) | ||||||||||||||||
Net loss |
— | — | — | — | — | ( |
) | ( |
) | |||||||||||||||||||
Balance — June 30, 2021 |
— | $ | — | $ |
$ | — | $ |
( |
) |
$ |
( |
) | ||||||||||||||||
For the Six Months Ended June 30, |
For the Six Months Ended June 30, |
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2022 |
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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Change in fair value of derivative warrant liabilities |
( |
) | ( |
) | ||||
Interest earned on investments held in Trust Account |
( |
) | ( |
) | ||||
Changes in operating assets and liabilities: |
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Prepaid expenses |
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Due from Sponsor |
( |
) | ||||||
Accounts payable and accrued expenses |
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Net cash used in operating activities |
( |
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( |
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Net Change in Cash |
( |
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( |
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Cash– Beginning |
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Cash– Ending |
$ |
$ |
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Gross proceeds |
$ | |||
Less: |
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Proceeds allocated to Public Warrants |
( |
) | ||
Class A ordinary shares issuance costs |
( |
) | ||
Plus: |
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Accretion of carrying value to redemption value |
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Class A ordinary shares subject to possible redemption ( December 31, 2021) |
$ | |||
Plus: |
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Accretion of carrying value to redemption value |
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Class A ordinary shares subject to possible redemption ( June 30, 2022) |
$ | |||
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Three Months Ended June 30, |
Six Months Ended June 30, |
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2022 |
2021 |
2022 |
2021 |
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Class A |
Class B |
Class A |
Class B |
Class A |
Class B |
Class A |
Class B |
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Basic and diluted net income (loss) per ordinary share |
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Numerator: |
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Allocation of net income (loss) |
$ | $ | $ | ( |
) | ( |
) | $ | $ | $ | $ | |||||||||||||||||||||
Denominator: |
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Basic and diluted weighted average shares outstanding |
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Basic and diluted net income (loss) per ordinary share |
$ | $ | $ | ( |
) | $ | ( |
) | $ | $ | $ | $ |
• | 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 an 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, 2021 |
U.S. Treasury Securities (Matured on January 13, 2022) | $ | $ | $ |
Description |
Level |
June 30, |
December 31, 2021 |
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Assets: |
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Marketable securities held on Trust Account |
1 |
$ | $ | |||||||||
Liabilities: |
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Warrant Liabilities– Public Warrants |
1 | $ | $ | |||||||||
Warrant Liabilities– Private Placement Warrants |
2 | $ | $ |
* | Filed herewith |
** | Furnished herewith |
AEA-BRIDGES IMPACT CORP. | ||||||
Date: August 9, 2022 | /s/ John Garcia | |||||
Name: | John Garcia | |||||
Title: | Chairman, Co-Chief Executive Officer, and Director | |||||
Date: August 9, 2022 | /s/ Michele Giddens | |||||
Name: | Michele Giddens | |||||
Title: | Co-Chief Executive Officer and Director |