XML 35 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 91,407
Prepaid expenses 208,056
Total Current Assets 299,463
Deferred offering costs 89,500
Marketable securities held in Trust Account 230,021,238
TOTAL ASSETS 230,320,701 89,500
Current liabilities    
Accrued expenses 312,942
Advances from related parties 870
Promissory note – related party 69,500
Total Current Liabilities 313,812 69,500
Warrant liabilities 18,505,400
Deferred underwriting commission payable 8,650,000
Total Liabilities 27,469,212 69,500
Class A ordinary shares subject to possible redemption, 23,000,000 shares and no shares at redemption value at December 31, 2021 and 2020, respectively 230,021,238
Shareholders’ (Deficit) Equity    
Preference shares, $0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding at December 31, 2021 and 2020
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 5,750,000 shares issued and outstanding, at December 31, 2021 and 2020 575 575
Additional paid-in capital 24,425
Accumulated deficit (27,170,324) (5,000)
Total Shareholders’ (Deficit) Equity (27,169,749) 20,000
TOTAL LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY 230,320,701 89,500
Blade Therapeutics, Inc.    
Current assets    
Cash and cash equivalents 2,299,000 11,486,000
Prepaid expenses and other current assets 1,085,000 1,249,000
Total Current Assets 3,384,000 12,735,000
Property and equipment, net 778,000 1,024,000
Restricted cash 249,000 249,000
Other assets 1,518,000
TOTAL ASSETS 5,929,000 14,008,000
Current liabilities    
Accounts payable 3,734,000 3,244,000
Term loan payable 3,297,000 5,207,000
Convertible notes payable at fair value ($15,103 and $29,168 to related parties, respectively) 46,360,000 23,410,000
Accrued expenses and other current liabilities 11,155,000 4,215,000
Contingent consideration, current 7,011,000
Total Current Liabilities 71,557,000 36,076,000
Convertible notes payable 12,066,000 12,046,000
Contingent consideration, noncurrent 6,432,000
Deferred rent, less current portion 193,000 80,000
Total Liabilities 83,816,000 54,634,000
Convertible preferred stock, $0.0001 par value, 133,656,880 and 151,185,364 shares authorized at December 31, 2020 and 2021, respectively; 83,044,690 shares issued and outstanding at December 31, 2020 and 2021 (aggregate liquidation preference of $90,365 at December 31, 2021) 89,107,000 89,107,000
Stockholders’ deficit:    
Common stock, $0.0001 par value; 156,600,925 and 178,329,409 shares authorized at December 31, 2020 and 2021, respectively; 7,887,913 and 10,035,358 shares issued and outstanding at December 31, 2020 and 2021, respectively 1,000 1,000
Shareholders’ (Deficit) Equity    
Additional paid-in capital 7,785,000 5,880,000
Accumulated other comprehensive (loss) income 35,000 (328,000)
Accumulated deficit (174,815,000) (135,286,000)
Total Shareholders’ (Deficit) Equity (166,994,000) (129,733,000)
TOTAL LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY $ 5,929,000 $ 14,008,000