Business Combination (Tables)

6 Months Ended

Jun. 30, 2022

Business Combinations [Abstract]

Summary of Net Proceeds from Business Combination and PIPE Financing Transactions

The following table summarizes the elements of the net proceeds from the Business Combination and PIPE Financing transaction (in thousands):

	Recapitalization
Cash - BCTG's Trust Account and cash (net of redemptions)	$	156,013
Cash - PIPE Financing		186,100
Less transaction costs and advisory fees paid		(15,844	)
Net cash proceeds from the Business Combination and PIPE Financing		326,269
Add: non-cash net assets assumed from BCTG		3
Net contributions from Business Combination and PIPE Financing	$	326,272

Summary of Common Stock Outstanding After Consummation of Business Combination and PIPE Financing Transaction

The following table summarizes the number of shares of common stock outstanding immediately following the consummation of the Business Combination and PIPE Financing transaction:

	Number of Shares
BCTG common shares outstanding prior to the Business Combination		21,377,250
Less redemption of BCTG shares		(1,106,814	)
Common shares of BCTG outstanding as of the Business Combination		20,270,436
Shares issued pursuant to the PIPE Financing		18,610,000
Business Combination and PIPE Financing shares		38,880,436
Old Tango common shares (after preferred shares were converted 1-for-1 for common shares)		48,593,803
Total shares of Common Stock immediately after Business Combination consummation		87,474,239

Summary of Weighted-Average Common Shares, Basic and Diluted

Date	Description	Redeemable Convertible Preferred Stock		Preferred to Common Exchange Ratio		Common Stock Shares		8/10/2021 Merger Recapitalization Exchange Ratio		Recapitalization Common Stock
3/18/2021	Series B (tranche 2)		22,686,025		1.00		22,686,025		0.34		7,706,861

The following table summarizes the weighted-average common shares, basic and diluted, for the three months ended June 30, 2021:

Date	Description	As previously recorded		8/10/2021 Merger Exchange Ratio		Recapitalized Common Stock		Days Outstanding in Q2 2021	% of weighting	Weighted average common shares
6/30/2021	Weighted-average shares, basic and diluted		14,485,746		0.34		4,965,270	91	100%		4,965,270
12/31/2019	Series A shares		55,700,000		0.34		18,922,317	91	100%		18,922,317
4/7/2020	Series B shares		22,686,025		0.34		7,706,443	91	100%		7,706,443
8/17/2020	Series B-1 shares		27,152,255		0.34		9,223,621	91	100%		9,223,621
3/18/2021	Series B shares (tranche 2)		22,686,025		0.34		7,706,861	91	100%		7,706,861
Weighted average number of common shares outstanding – basic and diluted for the three months ended June 30, 2021											48,524,511

The following table summarizes the weighted-average common shares, basic and diluted, for the six months ended June 30, 2021:

Date	Description	As previously recorded		8/10/2021 Merger Exchange Ratio		Recapitalized Common Stock		Days Outstanding in 2021	% of weighting	Weighted average common shares
6/30/2021	Weighted-average shares, basic and diluted		14,214,543		0.34		4,807,132	181	100%		4,807,132
12/31/2019	Series A shares		55,700,000		0.34		18,922,317	181	100%		18,922,317
4/7/2020	Series B shares		22,686,025		0.34		7,706,443	181	100%		7,706,443
8/17/2020	Series B-1 shares		27,152,255		0.34		9,223,621	181	100%		9,223,621
3/18/2021	Series B shares (tranche 2)		22,686,025		0.34		7,706,861	105	57%		4,428,922
Weighted average number of common shares outstanding – basic and diluted for the six months ended June 30, 2021											45,088,434