Business Combination (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of the Elements of the Business Combination to the Condensed Statements

The number of shares of common stock issued immediately following the consummation of the Business Combination:

	Shares
Common Stock of DCRB		20,483,179
DCRB Founders		5,643,125
Total DCRB		26,126,304
Conversion of Ascent options (Post-Cashless Exercise)		6,871,667
Conversion of convertible notes		5,022,052
PIPE shares		35,500,000
Reverse recapitalization transaction		73,520,023
Legacy Hyzon Shares after conversion (1)		173,474,186
Total shares of Common Stock immediately after Business Combination		246,994,209

The following table reconciles the elements of the Business Combination to the Consolidated Statements of Cash Flows for the year ended December 31, 2021 (in thousands):

	Recapitalization
Cash – DCRB trust and cash, net of redemptions and liabilities recorded by DCRB of $13.5 million	$	191,181
Cash – PIPE Financing, net of transaction costs of $14.2 million		340,797
Less: transaction costs allocated to equity		(19,042	)
Effect of Business Combination, net of redemption and transaction costs	$	512,936

The following table reconciles the elements of the Business Combination to the Consolidated Statements of Changes in Stockholders’ Equity for the year ended December 31, 2021 (in thousands):

	Recapitalization
Cash – DCRB trust and cash, net of redemptions and liabilities recorded by DCRB of $13.5 million	$	191,181
Cash – PIPE Financing, net of transaction costs of $14.2 million		340,797
Conversion of convertible notes into common stock		50,198
Recognize earnout liability		(188,373	)
Recognize Private Placement Warrants liability		(19,395	)
Recapitalization of Legacy Hyzon common shares		83
Less: transaction costs allocated to equity		(19,857	)
Effect of Business Combination, net of redemption and transaction costs	$	354,634