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.) |
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 |
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17 |
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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Investment held in Trust Account |
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TOTAL ASSETS |
$ |
$ |
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LIABILITIES AND SHAREHOLDERS’ DEFICIT |
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Current liabilities |
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Accrued expenses |
$ | $ | ||||||
Advance from related party |
— | |||||||
Convertible note - related party |
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Total Current 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 of June 30, 2021 and December 31, 2020 |
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Shareholders’ Deficit |
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Preference shares, $ |
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Class A ordinary shares, $ 27,600,000 shares subject to possible redemption) as of June 30, 2021 and December 31, 2020 |
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Class B ordinary shares, $ of June 30, 2021 and December 31, 2020 |
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Additional paid-in capital |
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Accumulated deficit |
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Total Shareholders’ Deficit |
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TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT |
$ |
$ |
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Three Months Ended June 30, |
Six Months Ended June 30, |
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2021 |
2021 |
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General and administrative expenses |
$ | $ | ||||||
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Loss from operations |
( |
) |
( |
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Other income |
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Interest earned on marketable securities held in Trust Account |
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Net loss |
$ |
( |
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$ |
( |
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Weighted average shares outstanding of Class A redeemable ordinary shares |
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Basic and diluted income per share, Class A redeemable ordinary shares |
$ | $ | ||||||
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Weighted average shares outstanding of Class A and Class B non-redeemable ordinary shares |
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Basic and diluted net loss per share, Class A and Class B non-redeemable ordinary shares |
$ | ( |
) |
$ | ( |
) | ||
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Class A Ordinary Shares |
Class B Ordinary Shares |
Additional Paid-in |
Accumulated |
Total Shareholders’ |
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Shares |
Amount |
Shares |
Amount |
Capital |
Deficit |
Deficit |
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Balance – January 1, 2021 |
$ |
$ |
$ |
$ |
( |
) |
$ |
( |
) | |||||||||||||||||||
Net loss |
— | — | — | — | ( |
) | ( |
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Balance – March 31, 2021 (unaudited) |
$ |
$ |
$ |
$ |
( |
) |
$ |
( |
) | |||||||||||||||||||
Net loss |
— | — | — | — | ( |
) | ( |
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Balance – June 30, 2021 (unaudited) |
$ |
$ |
$ |
$ |
( |
) |
$ |
( |
) | |||||||||||||||||||
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Cash Flows from Operating Activities: |
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Net loss |
$ | ( |
) | |
Adjustments to reconcile net loss to net cash used in operating activities: |
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Interest earned on marketable securities held in Trust Account |
( |
) | ||
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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Cash Flows from Financing Activities |
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Advances from related party |
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Proceeds from convertible promissory note - related party |
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Net cash provided by financing activities |
$ | |
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Net Change in Cash |
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Cash – Beginning of period |
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Cash – End of period |
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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 |
$ | $ | ||||||
Redeemable Net Earnings |
$ | $ | ||||||
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 A and B Ordinary Shares |
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Numerator: Net Loss minus Redeemable Net Earnings |
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Net Loss |
$ | ( |
) | $ | ( |
) | ||
Redeemable Net Earnings |
( |
) | ( |
) | ||||
Non-Redeemable Net Loss |
$ | ( |
) | $ | ( |
) | ||
Denominator: Weighted Average Non-Redeemable Class A and B Ordinary Shares |
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Non-Redeemable Class A and B Ordinary Shares, Basic and Diluted (1) |
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Loss/Basic and Diluted Non-Redeemable Class A and B Ordinary Shares |
$ | ( |
) | $ | ( |
) |
(1) | The weighted average non-redeemable ordinary shares for period ended June 30, 2021 includes the effect of |
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. |
Description |
Level |
June 30, 2021 |
December 31, 2020 |
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Assets: |
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Marketable securities held in Trust Account – Money Market Funds |
1 | $ | $ | |
* | Filed herewith. |
DRAGONEER GROWTH OPPORTUNITIES CORP. II | ||||||
Date: August 16, 2021 | By: | /s/ Marc Stad | ||||
Name: | Marc Stad | |||||
Title: | Chief Executive Officer and Chairman (Principal Executive Officer) | |||||
Date: August 16, 2021 | By: | /s/ Pat Robertson | ||||
Name: | Pat Robertson | |||||
Title: | President, Chief Operating Officer and Director (Principal Operating Officer) |