EX-99.1 2 d215755dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

BLUE WHALE ACQUISITION CORP I

UNAUDITED PRO FORMA BALANCE SHEET AS OF AUGUST 6, 2021

 

     August 6, 2021     Pro Forma
Adjustments
         As Adjusted  
           (unaudited)          (unaudited)  

ASSETS

         

Cash

   $ 2,000,491     $ —          $ 2,000,491  

Prepaid Expense

     19,200       —            19,200  
  

 

 

   

 

 

      

 

 

 

Total current assets

     2,019,691       —            2,019,691  

Cash held in Trust Account

     200,000,000       29,408,110     (a)      229,408,110  
       588,162     (b)   
       (588,162   (c)   
  

 

 

   

 

 

      

 

 

 

Total Assets

   $ 202,019,691     $ 29,408,110          231,427,801  
  

 

 

   

 

 

      

 

 

 

LIABILITIES AND SHAREHOLDER’S EQUITY

         

Current Liabilities

         

Accounts payable—related party

     481,384       —            481,384  

Accrued expenses

     682,821       —            682,821  
  

 

 

   

 

 

      

 

 

 

Total Current Liabilities

     1,164,205       —            1,164,205  

Warrant Liability

     8,560,000       —            8,560,000  

FPA Liability

     100,000       —            100,000  

Deferred underwriting fee payable

     7,000,000       1,029,284     (d)      8,029,284  
  

 

 

   

 

 

      

 

 

 

Total Liabilities

     16,824,205       1,029,284          17,853,489  
  

 

 

   

 

 

      

 

 

 

Commitments and Contingencies (Note 6)

         

Class A ordinary shares subject to possible redemption, 18,019,548 and 20,857,431 at redemption value, respectively

     180,195,480       28,378,830     (e)      208,574,310  

Shareholder’s Equity

         

Preference shares—$0.0001 par value; 1,000,000 shares authorized; none issued and outstanding

     —         —            —    

Class A ordinary shares—$0.0001 par value; 200,000,000 shares authorized; 1,980,452 and 2,083,380 issued and outstanding, respectively

     198       294     (a)      208  
       (284   (e)   

Class F ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 2,222,222 and 2,548,979 shares issued and outstanding, respectively

     222       33     (f)      255  

Class G ordinary shares, $0.0001 par value; 30,000,000 shares authorized, 4,444,445 and 5,097,958 shares issued and outstanding, respectively

     444       65     (f)      509  

Additional paid-in capital

     5,346,782       29,407,816     (a)      5,346,670  
       588,162     (b)   
       (588,162   (c)   
       (1,029,284   (d)   
       (28,378,546   (e)   
       (98   (f)   

Accumulated Deficit

     (347,640     —            (347,640
  

 

 

   

 

 

      

 

 

 

Total Shareholder’s Equity

     5,000,006       (4        5,000,002  
  

 

 

   

 

 

      

 

 

 

Total Liabilities and Stockholders’ Equity

     202,019,691     $ 29,408,110        $ 231,427,801  
  

 

 

   

 

 

      

 

 

 

The accompany notes are an integral part of the financial statement.


NOTE 1—CLOSING OF OVER-ALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of Blue Whale Acquisition Corp I. (the “Company”) as of August 6, 2021, adjusted for the closing of the underwriters’ over-allotment option and related transactions which occurred on August 16, 2021 as described below.

The Company consummated its initial public offering (the “IPO”) of 20,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value per share and one-fourth of one redeemable warrant to purchase one Class A ordinary share. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $200,000,000. The Company granted the underwriters in the IPO (the “Underwriters”) a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments, if any. On August 16, 2021, the Underwriters partially exercised the over-allotment option and purchased an additional 2,940,811 Over-Allotment Units, generating an aggregate of gross proceeds of $29,480,110, incurred $588,162 in cash underwriting fees, and forfeited the remainder of the option, which over-allotment closed on August 18, 2021.

Simultaneously with the closing of the exercise of the overallotment option, the Company completed the private sale (the “Private Placement”) of an aggregate of 294,081 Private Warrants (the “Private Placement Warrants”) to the Company’s Sponsor, Blue Whale Sponsor I LLC, at a purchase price of $2.00 per Private Warrant, generating gross proceeds of $588,162.

Upon closing of the IPO, the Private Placement, and the sale of the Over-Allotment Units, a total of $229,408,110 ($10.00 per Unit) was placed in a U.S.-based trust account at JP Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee.

Pro forma adjustments to reflect the exercise of the Underwriters’ over-allotment option, the sale of the Private Warrants, and the issuance of Class F and G ordinary shares are as follows:

 

Pro Forma Entries    Debit      Credit  

(a) Cash held in trust

   $ 29,408,110     

Class A ordinary shares

      $ 294  

Additional paid-in capital

      $ 29,407,816  

To record sale of 2,940,811 Overallotment Units at $10.00 per Unit

 

(b) Cash held in trust

   $ 588,162     

Additional paid-in capital

      $ 588,162  

To record sale of 294,081 Private Warrants at $2.00 per Private Warrant

 

(c) Additional paid-in capital

   $ 588,162     

Cash held in trust

      $ 588,162  

To record payment of cash underwriting fee

 

(d) Additional paid-in capital

   $ 1,029,284     

Deferred underwriting fee payable

      $ 1,029,284  

To record additional Deferred underwriters’ fee arising from the sale of Overallotment Units

 

(e) Class A ordinary shares

   $ 284     

Additional paid-in capital

   $ 28,378,546     

Class A ordinary shares subject to possible redemption

      $ 28,378,830  

To record Class A ordinary shares out of permanent equity into mezzanine redeemable shares

 

(f) Additional paid-in capital

   $ 98     

Class F ordinary shares

      $ 33  

Class G ordinary shares

      $ 65  

To record the additional Class F and Class G ordinary shares issued as a result of the partial exercise