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) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
(Address of principal executive offices) |
(Zip Code) |
Title of Each Class: |
Trading Symbol: |
Name of Each Exchange on Which Registered: | ||
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
☒ | Smaller reporting company | |||||
Emerging growth company |
Page |
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PART I. FINANCIAL INFORMATION |
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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. |
18 |
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Item 3. |
21 |
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Item 4. |
21 |
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PART II. OTHER INFORMATION |
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Item 1. |
22 |
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Item 1A. |
22 |
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Item 2. |
23 |
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Item 3. |
23 |
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Item 4. |
23 |
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Item 5. |
23 |
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Item 6. |
24 |
Item 1. |
Condensed Financial Statements |
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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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: |
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Accounts payable |
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Due to related party |
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Accrued expenses |
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Total current liabilities |
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Deferred underwriting commissions |
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Warrant liability |
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Total liabilities |
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Commitments and Contingencies |
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Class A ordinary shares, $ |
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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 S hareholders’ 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 |
$ | $ | ||||||
General and administrative expenses – related party |
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Loss from operations |
( |
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Other (expense) income: |
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Change in fair value of warrants |
( |
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Interest income from investments held in Trust Account |
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Net income (loss) |
$ | ( |
) | $ | ( |
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Basic and diluted weighted average shares outstanding of Class A ordinary shares |
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Basic and diluted net income per ordinary share, Class A ordinary shares |
$ | $ | ||||||
Basic and diluted weighted average shares outstanding of Class B ordinary shares |
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Basic and diluted net loss per ordinary share, Class B ordinary shares |
$ | ( |
) | $ | ( |
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Ordinary Shares |
Additional Paid-in Capital |
Accumulated Deficit |
Total Shareholder’s Equity |
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Class A |
Class B |
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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 redemption |
— | — | — | |||||||||||||||||||||||||
Net loss |
— | — | — | — | — | ( |
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Balance - March 31, 2021 |
$ |
$ |
$ |
$ |
( |
) |
$ |
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Change in Class A ordinary shares subject to redemption |
— | — | — | |||||||||||||||||||||||||
Net loss |
— | — | — | — | — | ( |
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Balance – June 30, 2021 (unaudited) |
$ |
$ |
$ |
$ |
( |
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$ |
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Cash Flows from Operating Activities: |
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Net loss |
$ | ( |
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Adjustments to reconcile net loss to net cash used in operating activities: |
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Increase |
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Interest income from investments held in Trust Account |
( |
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Changes in operating assets and liabilities: |
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Prepaid expenses |
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Accounts payable |
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Due to related party |
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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 of the period |
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Cash – end of the period |
$ | |||||||
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Supplemental disclosure of 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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June 30, 2021 |
Quoted Prices in Active Markets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Other Unobservable Inputs (Level 3) |
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Description |
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Assets: |
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Investments held in Trust Account - U.S. Treasury Securities |
$ | $ | $ | $ | ||||||||||||
Liabilities: |
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Warrant Liability - Public Warrants |
$ | $ | $ | $ | ||||||||||||
Warrant Liability - Private Placement |
$ | $ | $ | $ |
• | in whole and not in part; |
• | at a price of $ |
• | upon a minimum of |
• | if, and only if, the last reported sale price (the “closing price”) of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any |
• | in whole and not in part; |
• | at $ |
• | if, and only if, the last reported sale price (the “closing price”) of the Company’s Class A ordinary shares equals or exceeds $10.00 per Public Share (as adjusted) for any |
• | if the closing price of the Class A ordinary shares for any |
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. |
Exhibits. |
* | These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. |
CERBERUS TELECOM ACQUISITION CORPORATION | ||
/s/ Timothy M. Donahue | ||
Name: | Timothy M. Donahue | |
Title: | Chief Executive Officer (Principal Executive Officer) | |
/s/ Jeffrey L. Lomasky | ||
Name: | Jeffrey L. Lomasky | |
Title: | Chief Financial Officer (Principal Financial and Accounting Officer) |