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 |
(Exact name of registrant as specified in its charter) |
(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 | ||
and one-half of one Redeemable Warrant |
The | |||
The | ||||
The |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ||||
Emerging growth company |
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Item 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. |
13 |
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Item 3. |
16 |
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Item 4. |
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Item 1. |
16 |
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Item 1A. |
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Item 2. |
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Item 3. |
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Item 4. |
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Item 5. |
17 |
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Item 6. |
17 |
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18 |
September 30, 2021 (Unaudited) |
December 31, 2020 |
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ASSETS |
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CURRENT ASSETS |
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Cash |
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Total current assets |
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OTHER ASSETS |
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Deferred offering costs |
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Total other assets |
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TOTAL ASSETS |
$ |
$ |
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LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT) |
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CURRENT LIABILITIES |
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Accounts payable and accrued expenses |
$ | $ | ||||||
Accrued offering costs |
— | |||||||
Notes payable - related party |
— | |||||||
Due to affiliates |
— | |||||||
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Total current liabilities |
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TOTAL LIABILITIES |
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COMMITMENTS AND CONTINGENCIES (Note 6) |
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STOCKHOLDER’S EQUITY (DEFIC I T) |
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Common stock; $ (1)(2) |
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Additional paid-in capital |
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Accumulated deficit |
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TOTAL STOCKHOLDER’S EQUITY (DEFICIT) |
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TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY |
$ |
$ |
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(1) | This number includes an aggregate of up to |
(2) |
Common stock have been retroactively restated to reflect the recapitalization of the Company in the form of a |
For the three months ended September 30, 2021 |
For the nine months ended September 30, 2021 |
For the period July 20, 2020 (inception) through September 30, 2020 |
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EXPENSES |
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General and administrative expenses |
$ |
$ |
$ |
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Total expenses |
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OTHER INCOME (LOSS) |
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Interest income |
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NET LOSS |
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( |
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WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED (1)(2) |
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BASIC AND DILUTED NET LOSS PER SHARE |
($ |
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($ |
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($ |
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(1) | This number excludes an aggregate of up to over-allotment option is not exercised in full or in part by the underwriter (see Note 5). |
(2) | Common stock have been retroactively restated to reflect the recapitalization of the Company in the form of a (see Note 5). |
Common Stock |
Total |
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Additional |
Accumulated |
stockholder’s |
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Shares |
Amount |
paid-in capital |
deficit |
equity (deficit) |
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Balance, December 31, 202 0 (audited) |
$ | $ | $ |
( |
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$ | ||||||||||||||
Net loss |
— | — | — | ( |
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Balance, June 30, 2021 |
$ | $ | $ | ( |
) | $ | ||||||||||||||
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Net loss |
— | — | — | ( |
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Balance, September 30, 2021 |
$ | $ | $ | ( |
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FOR THE PERIOD FROM JULY 20, 2020 (INCEPTION) THROUGH SEPTEMBER 30, 2020 |
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Common Stock |
Total |
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Additional |
Accumulated |
stockholder’s |
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Shares |
Amount |
paid-in capital |
deficit |
equity |
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Balance, July 20, 2020 (inception) |
$ |
$ |
$ |
$ |
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Issuance of Class B common stock to Sponsor (1)(2) |
— |
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Net loss |
— |
— |
( |
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Balance, September 30, 2020 |
$ |
$ |
$ |
( |
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$ |
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(1) | This number includes an aggregate of up to shares of common stock subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter (see Note 5). |
(2) | Common stock have been retroactively restated to reflect the recapitalization of the Company in the form of a |
For the 9 months ended September 30, 2021 |
For the period July 20, 2020 (inception) through September 30, 2020 |
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CASH FLOWS FROM OPERATING ACTIVITIES |
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Net loss |
$ | ( |
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$ |
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Adjustments to reconcile net loss to net cash used in operating activities: |
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Accounts payable |
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Net cash flows used in operating activities |
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CASH FLOWS FROM FINANCING ACTIVITIES |
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Payment of Deferred Offering Costs |
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Proceeds from issuance of common stock to Sponsor |
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Proceeds from notes payable—related party |
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Net cash flows provided by financing activities |
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NET CHANGE IN CASH |
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CASH, BEGINNING OF PERIOD |
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CASH, END OF PERIOD |
$ | |
$ |
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Supplemental disclosure of noncash activities: |
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Payment of deferred offering costs by note s payable—related party |
$ | |
$ |
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Deferred offering costs included in accrued offering costs |
$ | |
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$ |
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Conversion of due to affiliate through issuance of Notes Payable |
$ | |
$ |
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• | in whole and not in part; |
• | at a price of $ |
• | upon a minimum of 30 day prior written notice of redemption, which we refer to as the “ period”; and |
• | if, and only if, the last reported sale price (the “closing price”) of our common stock equals or exceeds $ a period ending on the third trading day prior to the date on which the Company sends a notice of redemption to the warrant holders. |
Number |
Description |
3.2 |
4.1 |
4.2 |
4.3 |
4.4 |
10.1 |
10.2 |
10.3 |
10.4 |
10.5 |
10.6 |
31.1* |
31.2* |
32.1** |
32.2** |
101.INS* | 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.SCH* | XBRL Taxonomy Extension Schema Document |
101.CAL* | XBRL Taxonomy Extension Calculation Linkbase Document |
101.DEF* | XBRL Taxonomy Extension Definition Linkbase Document |
101.LAB* | XBRL Taxonomy Extension Label Linkbase Document |
101.PRE* | XBRL Taxonomy Extension Presentation Linkbase Document |
104* | Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
* | Filed herewith. |
** | These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
OPY ACQUISITION CORP. I | ||||||
Date: December 10, 2021 | By: | /s/ Jonathan B. Siegel | ||||
Name: | Jonathan B. Siegel | |||||
Title: | Chief Executive Officer and Director | |||||
(Principal Executive Officer) | ||||||
Date: December 10, 2021 | By: | /s/ Daniel E. Geffken | ||||
Name: | Daniel E. Geffken | |||||
Title: | Chief Financial Officer and Director | |||||
(Principal Financial and Accounting Officer) |