Class A Common Stock Subject to Possible Redemption

9 Months Ended

Sep. 30, 2021

890 5TH AVENUE PARTNERS, INC.

Class A Common Stock Subject to Possible Redemption

Note 7 – Class A Common Stock Subject to Possible Redemption

The Company’s Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 500,000,000 Class A common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of September 30, 2021, there were 29,527,500 Class A common stock outstanding, 28,750,000 of which were subject to possible redemption and are classified outside of permanent equity in the condensed consolidated balance sheet.

The Class A common stock subject to possible redemption reflected on the condensed consolidated balance sheet is reconciled on the following table:

Gross proceeds received from Initial Public Offering	$	287,500,000
Less:
Fair value of Public Warrants at issuance		(11,116,667)
Offering costs allocated to Class A common stock		(5,989,181)
Plus:
Accretion on Class A common stock to redemption value		17,105,848
Class A common stock subject to possible redemption	$	287,500,000