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.) | |
(Address of principal executive offices) |
(Zip Code) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
one-fifth of one redeemable warrant |
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Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ||||
Emerging growth company |
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June 30, |
December 31, |
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2022 |
2021 |
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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’ DEFICIT |
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Current liabilities |
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Accrued expenses |
$ | $ | ||||||
Promissory note—related party |
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Total Current Liabilities |
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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, $ $, respectively |
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Shareholders’ Deficit |
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Preference shares, $ or outstanding |
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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 |
( |
) | ( |
) | ||||
Total Shareholders’ Deficit |
( |
) |
( |
) | ||||
TOTAL LIABILITIES, COMMITMENTS AND CONTINGENCIES AND SHAREHOLDERS’ DEFICIT |
$ |
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For the Three Months Ended June 30, 2022 |
For the Three Months Ended June 30, 2021 |
For the Six Months Ended June 30, 2022 |
For the Period from January 8, 2021 (Inception) Through June 30, 2021 |
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General and administrative expenses |
$ | $ | $ | $ | ||||||||||||
Loss from operations |
( |
) |
( |
) |
( |
) |
( |
) | ||||||||
Other income (expense): |
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Change in fair value of warrant liabilities |
( |
) | ( |
) | ||||||||||||
Transaction costs allocated to warrant liabilities |
( |
) | ||||||||||||||
Interest income – bank |
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Interest earned on investments held in Trust Account |
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Total Other income (expense), net |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ |
$ |
( |
) |
$ |
$ |
( |
) | ||||||||
Weighted average shares outstanding, Class A ordinary shares |
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Basic and diluted net income (loss) per share, Class A ordinary shares |
$ |
$ |
( |
) |
$ |
$ |
( |
) | ||||||||
Weighted average shares outstanding, Class B ordinary shares |
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Basic and diluted net income (loss) per share, Class B ordinary shares |
$ |
$ |
( |
) |
$ |
$ |
( |
) | ||||||||
Class B Ordinary Shares |
Additional Paid-in |
Accumulated |
Total Shareholders’ |
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Shares |
Amount |
Capital |
Deficit |
Deficit |
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Balance — January 1, 2022 |
$ |
$ |
$ |
( |
) |
$ |
( |
) | ||||||||||||
Net income |
— | — | — | |||||||||||||||||
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Balance — March 31, 2022 |
( |
) |
( |
) | ||||||||||||||||
Accretion for Class A ordinary shares to redemption amount |
— | — | — | ( |
) | ( |
) | |||||||||||||
Net income |
— | — | — | |||||||||||||||||
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Balance — June 30, 2022 |
$ |
$ |
$ |
( |
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$ |
( |
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Class B Ordinary Shares |
Additional Paid-in |
Accumulated |
Total Shareholders’ |
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Shares |
Amount |
Capital |
Deficit |
Deficit |
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Balance — January 8, 2021 (inception) |
$ |
$ |
$ |
$ |
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Issuance of Class B ordinary shares to Sponsor |
— | |||||||||||||||||||
Cash paid in excess of fair value of Private Placement Warrants |
— | — | — | |||||||||||||||||
Accretion for Class A ordinary shares to redemption amount |
— | — | ( |
) | ( |
) | ( |
) | ||||||||||||
Forfeiture of Founder Shares |
( |
) | ( |
) | — | — | ||||||||||||||
Net income |
— | — | — | |||||||||||||||||
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Balance — March 31, 2021 |
$ |
$ |
$ |
( |
) |
$ |
( |
) | ||||||||||||
Net loss |
— | — | — | ( |
) | ( |
) | |||||||||||||
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Balance — June 30, 2021 |
$ |
$ |
$ |
( |
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$ |
( |
) | ||||||||||||
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For the Six Months Ended June 30, 2022 |
For the Period from January 8, 2021 (Inception) Through June 30, 2021 |
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Cash Flows from Operating Activities: |
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Net income (loss) |
$ | $ | ( |
) | ||||
Adjustments to reconcile net income (loss) to net cash used in operating activities: |
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Change in fair value of warrant liabilities |
( |
) | ||||||
Transaction costs allocated to warrant liabilities |
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Interest earned on investments held in Trust Account |
( |
) | ( |
) | ||||
Formation costs paid by Sponsor |
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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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Cash Flows from Investing Activities: |
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Investment of cash in Trust Account |
— | ( |
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Net cash used in investing activities |
— |
( |
) | |||||
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Cash Flows from Financing Activities: |
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Proceeds from sale of Units, net of underwriting discounts paid |
— | |||||||
Proceeds from sale of Private Placement Warrants |
— | |||||||
Proceeds from Promissory Note – related party |
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Repayment of Promissory Note – related party |
— | ( |
) | |||||
Payment of offering costs |
( |
) | ||||||
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Net cash provided by financing 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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Offering costs paid by Sponsor in exchange for issuance of Founder Shares |
$ | — | $ | |||||
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Offering costs paid through Promissory Note |
$ | — | $ | |||||
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Deferred underwriting fee payable |
$ | — | $ | |||||
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Forfeiture of Founder Shares |
$ | — | $ | ( |
) | |||
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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 as at 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 as at June 30, 2022 |
$ | |||
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Three Months Ended June 30, 2022 |
Three Months Ended June 30, 2021 |
Six Months Ended June 30, 2022 |
For the Period from January 8, 2021 (Inception) Through June 30, 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), as adjusted |
$ | $ | $ | ( |
) | ( |
) | $ | $ | $ | ( |
) | $ | ( |
) | |||||||||||||||||
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 |
$ | $ | $ | ( |
) | ( |
) | $ | $ | $ | ( |
) | $ | ( |
) | |||||||||||||||||
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• | in whole and not in part; |
• | at a price of $ |
• | upon a minimum of |
• | if, and only if, the closing price of the Class A ordinary shares equals or exceeds $ sub-divisions, share dividends, reorganizations, recapitalizations and the like) for any |
• | in whole and not in part; |
• | at $ |
• | if, and only if, the closing price of the Class A ordinary shares equals or exceeds $ sub-divisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders; and |
• | if the closing price of the Class A ordinary shares for any sub-divisions, share dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above. |
Description |
Level |
June 30, 2022 |
Level |
December 31, 2021 |
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Assets: |
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Investments held in Trust Account – U.S. Treasury Securities |
1 | $ | 1 |
$ | ||||||||||||
Liabilities: |
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Public Warrants |
2 |
$ | 1 |
$ | ||||||||||||
Private Placement Warrants |
2 | $ | 2 |
$ |
No. |
Description of Exhibit | |
31.1* | Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
31.2* | Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
32.1** | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
32.2** | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
101.INS* | Inline XBRL Instance Document—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |
101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
101.SCH* | Inline XBRL Taxonomy Extension Schema Document | |
101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB* | Inline XBRL Taxonomy Extension Labels Linkbase Document | |
101.PRE* | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
104 | The cover page for the Company’s Quarterly Report has been formatted in Inline XBRL and contained in Exhibit 101 |
* | Filed herewith. |
** | Furnished. |
PERIDOT ACQUISITION CORP. II | ||||||
Date: August 12, 2022 | /s/ Preston Powell | |||||
Name: | Preston Powell | |||||
Title: | Chief Executive Officer (Principal Executive Officer) | |||||
Date: August 12, 2022 | /s/ Stephen Wedemeyer | |||||
Name: | Stephen Wedemeyer | |||||
Title: | Chief Financial Officer (Principal Financial Officer and Accounting Officer) |