|
t
Applicable |
|
(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
|
☐
|
|
☒
|
Smaller reporting company
|
|
Emerging growth company
|
|
1
|
|
1
|
|
17
|
|
22
|
|
23
|
|
24
|
|
24
|
|
24
|
|
24
|
|
24
|
|
24
|
|
25
|
|
25
|
June 30, 2022
(Unaudited)
|
December 31, 2021
|
|||||||
ASSETS:
|
||||||||
Current Assets:
|
||||||||
Cash
|
$
|
|
$
|
|
||||
Prepaid expenses
|
|
|
||||||
Other current assets
|
|
|
||||||
Total Current Assets
|
|
|
||||||
Other non-current assets
|
|
|
||||||
Investments held in Trust Account
|
|
|
||||||
Total assets
|
$
|
|
$
|
|
||||
|
||||||||
LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
|
$
|
|
|||||
Accrued expenses
|
|
|
||||||
Total Current Liabilities
|
|
|
||||||
Deferred underwriting fee payable
|
|
|
||||||
Convertible loan from related party
|
|
|
||||||
Total liabilities
|
|
|
||||||
|
||||||||
Commitments and Contingencies (Note 6)
|
||||||||
|
||||||||
Class A ordinary shares subject to possible redemption,
|
|
|
||||||
|
||||||||
Shareholders’ Deficit
|
||||||||
Preferred stock, $
|
|
|
||||||
Class A ordinary shares, $
|
|
|
||||||
Class B ordinary shares, $
|
|
|
||||||
Additional paid-in capital
|
|
|
||||||
Accumulated deficit
|
(
|
)
|
(
|
)
|
||||
Total shareholders’ deficit
|
(
|
)
|
(
|
)
|
||||
Total liabilities, Class A ordinary shares subject to possible redemption and shareholders’ deficit
|
$
|
|
$
|
|
For The Three
Months Ended
June 30,
2022
|
For The Six
Months Ended
June 30,
2022
|
For The
Period From
April 8, 2021
(Inception)
Through
June 30,
2021
|
||||||||||
Formation costs
|
$
|
|
$
|
|
$
|
|
||||||
General and administrative expenses
|
|
|
|
|||||||||
Loss from operations
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Earnings on investments held in Trust Account
|
|
|
|
|||||||||
Net loss
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|||
Weighted-average number of Class A ordinary shares, basic and diluted
|
|
|
|
|||||||||
Basic and diluted net loss per Class A ordinary share
|
$
|
|
$
|
|
$
|
|
||||||
Weighted-average number of Class B ordinary shares, basic and diluted (1)
|
|
|
|
|||||||||
Basic and diluted net loss per Class B ordinary share
|
$
|
|
$
|
|
$
|
|
|
(1)
|
As of June 30, 2021 this number excluded an aggregate of
up to
|
Class A Ordinary Shares
|
Class B Ordinary Shares
|
|||||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Additional Paid-in
Capital
|
Accumulated Deficit
|
Shareholders’ Deficit
|
||||||||||||||||||||||
Balance as of January 1, 2022
|
|
$
|
|
|
$
|
|
$
|
|
(
|
)
|
$
|
(
|
)
|
|||||||||||||||
Net loss
|
—
|
|
—
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Balance as of March 31, 2022 (unaudited)
|
|
$
|
|
|
$
|
|
$
|
|
(
|
)
|
$
|
(
|
)
|
|||||||||||||||
Remeasurement of redemption value of Class A ordinary shares subject to possible redemption
|
— | — |
(
|
)
|
(
|
)
|
||||||||||||||||||||||
Net loss
|
— |
|
—
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Balance as of June 30, 2022
(unaudited)
|
|
$
|
|
|
$
|
|
$
|
|
(
|
)
|
$
|
(
|
)
|
Class A Ordinary Shares
|
Class B Ordinary Shares
|
|||||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Additional Paid-in
Capital
|
Accumulated Deficit
|
Shareholders’ Deficit
|
||||||||||||||||||||||
Balance as of April 8, 2021
|
|
$
|
|
|
$
|
|
$
|
|
|
$
|
|
|||||||||||||||||
Issuance of Ordinary shares to Sponsor
|
—
|
|
|
|
|
|
||||||||||||||||||||||
Net loss | — | — | — | — | ( |
) | ( |
) | ||||||||||||||||||||
Balance as of June 30, 2021
|
|
|
|
$
|
|
$
|
|
(
|
)
|
$
|
|
|
For The Six Months
Ended June 30, 2022
|
For The Period From April
8, 2021 Through
June 30, 2021
|
||||||
Cash Flows from Operating Activities
|
||||||||
Net loss
|
$
|
(
|
)
|
$
|
(
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Earnings on investments held in Trust Account
|
(
|
)
|
|
|||||
Changes in operating assets and liabilities:
|
||||||||
Prepaid and other assets
|
|
|
||||||
Due to related party
|
||||||||
Accounts payable
|
(
|
)
|
|
|||||
Accrued expenses
|
|
(
|
||||||
Net cash used in operating activities
|
(
|
)
|
|
|||||
Cash Flows from Financing Activities
|
||||||||
Proceeds from issuance of ordinary shares to Sponsor
|
|
|
||||||
Net cash used in financing activities
|
|
|
||||||
Net (decrease) increase in cash
|
(
|
)
|
|
|||||
Cash - beginning of period
|
|
|
||||||
Cash - end of period
|
$
|
|
$
|
|
||||
Supplemental disclosure of noncash investing and financing activities:
|
||||||||
Offering costs included in accrued expenses
|
$
|
|
$
|
|
||||
Offering costs paid through promissory note - related party
|
$
|
|
$
|
|
||||
Remeasurement of redemption value of Class A ordinary shares subject to possible redemption
|
$
|
|
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.
|
For The Three Months Ended
June 30, 2022
|
For The Six Months Ended
June 30, 2022
|
For The Period From
April 8, 2021
(Inception) Through
June 30, 2021
|
||||||||||||||||||||||
Class A
|
Class B
|
Class A | Class B | Class A | Class B | |||||||||||||||||||
Allocation of net loss
|
$
|
(
|
)
|
$ |
(
|
)
|
$ | ( |
) | $ |
( |
) | $ | $ |
( |
) | ||||||||
Basic and diluted weighted-average shares outstanding
|
|
|
||||||||||||||||||||||
Basic and diluted net loss per share
|
|
(
|
) |
(
|
) |
( |
) |
( |
) |
( |
) |
Gross proceeds
|
$
|
|
||
Less:
|
||||
Class A ordinary shares issuance costs
|
(
|
)
|
||
Fair value of Public Warrants at issuance
|
(
|
)
|
||
|
||||
Plus:
|
||||
Accretion of carrying value to redemption value
|
|
|||
Class A ordinary shares subject to possible redemption at December 31, 2021
|
|
|
||
Remeasurement of redemption value of Class A ordinary shares subject to possible redemption |
||||
Class A ordinary shares subject to possible redemption at June 30, 2022 | $ |
■ |
in whole and not in part;
|
■ |
at a price of $
|
■ |
upon a minimum of
|
■ |
if, and only if the last reported sale price of Class A ordinary shares for any
|
Description
|
Quoted Prices in
Active Markets
(Level 1)
|
Significant Other Observable Inputs
(Level 2)
|
Significant Other Unobservable Inputs
(Level 3)
|
|||||||||
Assets:
|
||||||||||||
Investments held in Trust Account
|
$
|
|
$
|
|
$
|
|
Description
|
Quoted Prices in
Active Markets
(Level 1)
|
Significant Other Observable Inputs
(Level 2)
|
Significant Other Unobservable Inputs
(Level 3)
|
|||||||||
Assets:
|
||||||||||||
Investments held in Trust Account
|
$
|
|
$
|
|
$
|
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
|
ITEM 3. |
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
ITEM 4. |
CONTROLS AND PROCEDURE.
|
ITEM 1A. |
RISK FACTORS
|
ITEM 2. |
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
ITEM 3. |
DEFAULTS UPON SENIOR SECURITIES.
|
ITEM 4. |
MINE SAFETY DISCLOSURES.
|
ITEM 5. |
OTHER INFORMATION.
|
ITEM 6. |
EXHIBITS.
|
No.
|
Description of Exhibit
|
|
Amended and Restated Memorandum and Articles of Association (incorporated herein by reference to Exhibit 3.1 filed with the Company’s Form 8-K filed by the Company on November 16, 2021 (File No. 001-41041)).
|
||
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
|
||
Certification of Principal Financial and Accounting 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
|
||
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
|
||
Certification of Principal Financial and Accounting 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
|
|
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*
|
Cover Page Interactive Data File
|
DP CAP ACQUISITION CORP I
|
||
Date: August 15, 2022
|
Name:
|
/s/ Scott Savitz
|
Title:
|
Chairman
|
|
(Principal Executive Officer)
|
||
/s/ Martin Zinny
|
||
Date: August 15, 2022
|
Name:
|
Martin Zinny
|
Title:
|
Chief Executive Officer and Chief Financial Officer
|
|
(Principal Accounting and Financial Officer)
|