(MARK |
ONE) |
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 |
A | ||
(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-half 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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March 31, |
December 31, |
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2022 |
2021 |
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(Unaudited) | ||||||||
ASSETS |
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Current assets |
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Cash |
$ | $ | ||||||
Prepaid expenses and other current asset |
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Total Current Assets |
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Long-Term portion of Prepaid Insurance |
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Investments held in Trust Account |
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TOTAL ASSETS |
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$ |
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LIABILITIES AND SHAREHOLDERS’ DEFICIT |
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Current Liabilities |
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Accrued expenses |
$ | $ | ||||||
Advance from related parties |
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Total Current Liabilities |
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Sponsor Loan |
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Deferred underwriting fee payable |
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TOTAL LIABILITIES |
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Commitments |
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Class A ordinary shares subject to redemption; |
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Shareholders’ Deficit |
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Preference shares, $ |
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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 |
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Total Shareholders’ Deficit |
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TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT |
$ |
$ |
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Formation and operating costs |
$ | |||
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Loss from operations |
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Other income: |
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Interest earned on Investments held in Trust Account |
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Net loss |
$ |
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Weighted average shares outstanding of Class A ordinary shares |
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Basic and diluted net loss per share, Class A ordinary shares |
$ |
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Weighted average shares outstanding of Class B ordinary shares |
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Basic and diluted net loss per share, Class B ordinary shares |
$ |
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Class A Ordinary Shares |
Class B Ordinary Shares |
Additional Paid-in |
Accumulated |
Total Shareholders’ |
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Shares |
Amount |
Shares |
Amount |
Capital |
Deficit |
Equity (Deficit) |
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Balance — January 1, 2022 |
$ |
$ |
$ |
$ |
( |
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$ |
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Net loss |
— | — | — | — | — | ( |
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Balance — March 31, 2022 |
$ |
$ |
$ | $ |
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$ |
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Cash Flows from Operating Activities: |
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Net loss |
$ | ( |
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Adjustments to reconcile net loss to net cash used in operating activities: |
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Interest earned on investments held in Trust Account |
( |
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Changes in operating assets and liabilities: |
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Prepaid expenses and other current asset |
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Accrued ex p enses |
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Net cash used in operating activities |
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Adjustment to reconcile net loss to net cash used in financing activities: |
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Advances from related party |
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Net cash used in 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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Gross proceeds |
$ | |||
Less: |
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Proceeds allocated to Public Warrants |
( |
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Class A ordinary shares issuance costs |
( |
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Plus: |
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Accretion of carrying value to redemption value |
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Class A ordinary shares subject to possible redemption |
$ |
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For The Three Months Ended March 31, 2022 |
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Class A |
Class B |
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Basic and diluted net loss per ordinary share |
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Numerator: |
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Allocation of net loss, as adjusted |
$ | ( |
) | $ | ( |
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Denominator: |
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Basic and diluted weighted average shares outstanding |
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Basic and diluted net loss per ordinary share |
$ | ( |
) | $ | ( |
) |
• 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. |
• | in whole and not in part; |
• | at a price of $ |
• | upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and |
• | if, and only if, the closing price of the Class A ordinary shares equals or exceeds $ 30-trading day period ending three trading days before the date on which the Company sends the notice of redemption to the warrant holders. |
Held-To-Maturity |
Level |
Amortized Cost |
Gross Holding Gain |
Fair Value |
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March 31, 2022 |
U.S. Treasury Securities (Mature on 04/21/2022) |
1 | $ | $ | $ |
Held-To-Maturity |
Level |
Amortized Cost |
Gross Holding Gain |
Fair Value |
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December 31, 2021 |
U.S. Treasury Securities (Mature on 1/20/2022) | 1 | $ | $ | $ |
Description |
Level |
December 31, 2021 |
March 31, 2022 |
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Assets: |
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Investments held in Trust Account – U.S. Treasury Securities Money Market Fund |
1 | $ | $ |
* | Filed herewith. |
** | Furnished herewith. |
ENTERPRISE 4.0 TECHNOLOGY ACQUISITION CORP. | ||||||
Date: May 10, 2022 | By: | /s/ Eric Benhamou | ||||
Name: | Eric Benhamou | |||||
Title: | Chief Executive Officer |