Business Combination (Tables)

3 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Schedule of Net Proceeds From The Business Combination

The following table summarizes the elements of the net proceeds from the business combination as of December 31, 2021(in thousands except for share and per share amounts):

	Recapitalization
Cash - MCAD cash and cash held in trust	$	9,485
Cash - Proceeds from PIPE Investment		50,000
Less: underwriting fees and other offering costs		(16,724	)
Net proceeds from business combination	$	42,761

Schedule Of Number Of Shares Of Common Stock Outstanding Immediately Following Consummation Of Business Combination Transaction

The following table summarizes the number of shares of common stock outstanding immediately following the consummation of the business transaction:

	Number of Shares
MCAD shares and rights outstanding prior to the business combination		8,152,500
Less: redemptions of MCAD shares prior to the business combination		(4,826,260	)
Common stock of MCAD		3,326,240
Shares issued pursuant to the PIPE including transaction related shares		5,098,750
Business combination and PIPE financing shares		8,424,990
Conversion of Legacy BTX SAFEs to Common Stock		4,080,481
Conversion of Legacy BTX Preferred Series Seed A to Common Stock		1,010,696
Conversion of Legacy BTX Preferred Series A to Common Stock		4,737,454
Conversion of Legacy BTX Common Stock into new common stock		5,346,097
Total shares of Better Therapeutics Common Stock outstanding immediately following the business combination		23,599,718