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 or organization) |
(I.R.S. Employer Identification No.) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant |
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Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
☒ | Smaller reporting company | |||||
Emerging growth company |
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JUNE 30, 2022 (Unaudited) |
DECEMBER 31, 2021 |
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ASSETS |
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CURRENT ASSETS |
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Cash |
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Prepaid expenses |
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Total current assets |
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OTHER ASSETS |
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Cash and Investments in Trust Account |
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Reimbursement receivable |
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Total other assets |
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Total assets |
$ | $ | ||||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT |
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LIABILITIES |
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CURRENT LIABILITIES |
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Due to Sponsor |
$ | $ | ||||||
Accrued expenses |
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Total current liabilities |
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LONG-TERM LIABILITIES |
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Deferred underwriting fee payable |
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Deferred advisory fees payable |
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Total long-term liabilities |
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Total liabilities |
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COMMITMENTS AND CONTINGENCIES |
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Class A Ordinary Shares subject to possible 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, Class A Ordinary Shares subject to possible redemption and Shareholders’ Deficit |
$ | $ | ||||||
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For the three months ended June 30, 2022 |
For the six months ended June 30, 2022 |
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OPERATING COSTS |
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General and administrativ e |
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$ | |
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$ | |
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Loss from operation s |
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OTHER INCOME |
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Interest income |
$ | $ | ||||||
Dividend income |
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Total other ncomei |
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Unrealized gain |
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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 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 Class B ordinary shares |
$ | ( |
) | $ | ( |
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Ordinary shares |
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Class A |
Class B |
Preference shares |
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Additional |
Total |
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paid-in |
Accumulated |
shareholders’ |
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Shares |
Amount |
Shares |
Amount |
Shares |
Amount |
capital |
deficit |
deficit |
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Balance, December 31, 2021 |
$ | $ | $ | $ | $ | ( |
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Net loss |
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Balance, March 31, 2022 |
$ | $ | $ | $ | $ | ( |
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Net loss |
— | — | — | — | — | — | — | ( |
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Balance, June 30, 2022 |
$ | $ | $ | $ | $ | ( |
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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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Unrealized gain on investments |
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Changes in operating assets and liabilities: |
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Prepaid expenses |
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Accrued expenses |
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Due to sponsor |
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Net cash used in operating activities |
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Cash Flows from Investing Activities |
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Divestment of cash in Trust Account |
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Purchase of investments in Trust Account |
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Net cash flows used in investing activities |
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Cash - Beginning of period |
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Cash - End of period |
$ |
Gross proceeds from IPO |
$ | |||
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 |
$ | |||
For the six months ended June 30, 2022 |
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Class A |
Class B |
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Basic and diluted net loss per share: Numerator: |
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Allocation of net loss |
$( |
$( |
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Denominator: |
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Weighted-average shares outstanding |
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Basic and diluted net loss per share |
$( |
$( |
• | in whole and not in part; |
• | at a price of $ |
• | upon a minimum of 30 days’ prior written notice of redemption (the “ redemption period”); and |
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 an assessment of the assumptions that market participants would use in pricing the asset or liability. Transfers between fair value levels are recorded at the end of each reporting period. |
Description |
Level |
June 30, 2022 |
Level |
December 31, 2021 |
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Investments held in Trust Account – Blackrock Liquidity Funds - Treasury Trust Fund |
1 | $ | — | $ | — |
* | Filed herewith. |
** | Furnished. |
(1) | Previously filed as an exhibit to our Current Report on Form 8-K filed on November 16, 2021 and incorporated by reference herein. |
LAMF GLOBAL VENTURES CORP. I | ||||||
Date: August 12, 2022 | /s/ Morgan Earnest | |||||
Name: | Morgan Earnest | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial and Accounting Officer) |