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) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
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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 | ||
one-third of one redeemable warrant |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
☒ | Smaller reporting company | |||||
Emerging growth company |
Page |
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Part I. Financial Information |
1 |
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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. |
16 |
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Item 3. |
20 |
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Item 4. |
21 |
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Part II. Other Information |
22 |
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Item 1. |
22 |
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Item 1A. |
22 |
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Item 2. |
22 |
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Item 3. |
22 |
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Item 4. |
22 |
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Item 5. |
22 |
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Item 6. |
23 |
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Part III. Signatures |
24 |
September 30, 2021 |
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Assets |
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Deferred offering costs |
$ | |||
Total Assets |
$ | |||
Liabilities and Shareholders’ Equity |
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Current liabilities: |
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Accrued offering costs and expenses |
$ | |||
Promissory note – related party |
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Total current liabilities |
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Commitments and Contingencies (Note 6) |
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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, $ (1) |
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Additional paid-in capital |
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Accumulated deficit |
( |
) | ||
Total S hareholders’ equity |
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Total Liabilities and Shareholders’ Equity |
$ | |||
(1) | This number includes up to 8). On December 29, 2021, the underwriters partially exercised their over-allotment option and purchased |
For the three months ended September 30, 2021 |
For the Period from February 2, 2021 (Inception) through September 30, 2021 |
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Formation cost s |
$ | $ | ||||||
Net loss |
$ | $ | ( |
) | ||||
Basic and diluted weighted average Class B shares outstanding (1) |
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Basic and diluted net loss per share |
$ | ( |
) | $ | ( |
) | ||
(1) | Excluding |
Class B |
Additional |
Total |
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Ordinary Shares |
Paid-in |
Accumulated |
Shareholder’s |
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Shares (1) |
Amount |
Capital |
Deficit |
Equity |
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Balance as of February 2, 2021 (inception) |
$ | $ | $ | $ | ||||||||||||||||
Class B ordinary shares issued to an affiliate of Sponsor (and subsequently transferred to Sponsor) |
— | |||||||||||||||||||
Net loss |
— | — | — | ( |
) | ( |
) | |||||||||||||
Balance as of September 30, 2021 (unaudited) |
$ | $ | $ | ( |
) | $ | ||||||||||||||
(1) | This number includes up to 8). On December 29, 2021, the underwriters partially exercised their over-allotment option and purchased |
Cash Flows from Operating Activities: |
$ | ( |
) | |
Net loss |
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Formation cost paid by related party |
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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 cash flow information: |
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Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares |
$ | |||
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Deferred offering costs paid by the Sponsor under the promissory note |
$ | |||
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Deferred offering costs included in accrued offerings costs and expenses |
$ | |||
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• | Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; |
• | Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and |
• | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. |
• |
• | any period commencing at least |
• | any period commencing at least |
• | in whole and not in part; |
• | at a price of $ |
• | if, and only if, the last reported sale price of the Class A ordinary shares equals or exceeds $ a period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. |
* | Filed herewith. |
TARGET GLOBAL ACQUISITION I CORP. | ||||||
Date: January 24, 2022 | By: | /s/ Shmuel Chafets | ||||
Name: | Shmuel Chafets | |||||
Title: | Chief Executive Officer |