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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Basis of Presentation</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected through December 31, 2021.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Note 2 — Summary of Significant Accounting Policies</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Basis of Presentation</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected through December 31, 2021.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Emerging Growth Company</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Concentration of Credit Risk</div><div style="text-align: justify; text-indent: 24.5pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage limit of $250,000. As of March 31, 2021, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic; color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Cash and Cash Equivalents</div><div style="text-align: justify; text-indent: 24.5pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of March 31, 2021.</div><div style="text-align: justify;"><font style="font-weight: bold; font-style: italic; color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Cash Held in Trust Account</div><div style="text-align: justify; text-indent: 24.5pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2021, the Company had approximately $149.5 million in cash held in the Trust Account.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Use of Estimates</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The preparation of financial statement in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement. Actual results could differ from those estimates.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Financial Instruments</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Fair Value Measurements</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">•</td><td style="width: auto; vertical-align: top;"><div style="color: rgb(0, 0, 0);">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">•</td><td style="width: auto; vertical-align: top;"><div style="color: rgb(0, 0, 0);">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">•</td><td style="width: auto; vertical-align: top;"><div style="color: rgb(0, 0, 0);">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</div></td></tr></table><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2021, the carrying values of cash, accounts payable and accrued expenses approximate their fair values due to the short-term nature of the instruments. The Company’s marketable securities held in Trust Account is comprised of investments in U.S. Treasury securities with an original maturity of 185 days or less and are recognized at fair value. The fair value of marketable securities held in Trust Account is determined using quoted prices in active markets.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Offering Costs Associated with the Initial Public Offering</div><div style="text-align: justify; text-indent: 23.55pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Offering costs consist of legal, accounting, underwriting and other costs incurred that were directly related to the Initial Public Offering and that were charged to shareholders’ equity upon the completion of the Initial Public Offering.</div><div style="text-align: justify; text-indent: -13.1pt; margin-left: 20.1pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Class A Ordinary Shares Subject to Possible Redemption</div><div style="text-align: justify; text-indent: 24.5pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) are classified as liability instruments and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, As of March 31, 2021, 14,055,631 Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Income Taxes</div><div style="text-align: justify; color: rgb(0, 0, 0);"><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of March 31, 2021. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of March 31, 2021, there were no unrecognized tax benefits and no amounts were accrued for the payment of interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Net loss per ordinary shares</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Net loss per share is computed by dividing net loss by the weighted-average number of ordinary shares outstanding during the periods.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The unaudited condensed statements of operations include a presentation of loss per share for ordinary shares subject to redemption in a manner similar to the two-class method of income per share. Net loss per share, basic and diluted for Class A ordinary shares for three months ended March 31, 2021 is calculated by dividing the unrealized gain on investments held in Trust Account of approximately $15,000, by the weighted average number of Class A ordinary shares outstanding for the period.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Net loss per share, basic and diluted for Class B ordinary shares for the three months ended March 31, 2021 is calculated by dividing the net loss of approximately $210,000, less net gain attributable to Class A ordinary shares of approximately $15,000, resulting in a net loss of approximately $225,000, by the weighted average number of Class B ordinary shares outstanding for the period.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Recent Accounting Pronouncements</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statement.</div></div>
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-0.07
0
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Net loss per ordinary shares</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Net loss per share is computed by dividing net loss by the weighted-average number of ordinary shares outstanding during the periods.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The unaudited condensed statements of operations include a presentation of loss per share for ordinary shares subject to redemption in a manner similar to the two-class method of income per share. Net loss per share, basic and diluted for Class A ordinary shares for three months ended March 31, 2021 is calculated by dividing the unrealized gain on investments held in Trust Account of approximately $15,000, by the weighted average number of Class A ordinary shares outstanding for the period.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Net loss per share, basic and diluted for Class B ordinary shares for the three months ended March 31, 2021 is calculated by dividing the net loss of approximately $210,000, less net gain attributable to Class A ordinary shares of approximately $15,000, resulting in a net loss of approximately $225,000, by the weighted average number of Class B ordinary shares outstanding for the period.</div></div>
-0.07
0
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Fair Value Measurements</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">•</td><td style="width: auto; vertical-align: top;"><div style="color: rgb(0, 0, 0);">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">•</td><td style="width: auto; vertical-align: top;"><div style="color: rgb(0, 0, 0);">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">•</td><td style="width: auto; vertical-align: top;"><div style="color: rgb(0, 0, 0);">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</div></td></tr></table><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2021, the carrying values of cash, accounts payable and accrued expenses approximate their fair values due to the short-term nature of the instruments. The Company’s marketable securities held in Trust Account is comprised of investments in U.S. Treasury securities with an original maturity of 185 days or less and are recognized at fair value. The fair value of marketable securities held in Trust Account is determined using quoted prices in active markets.</div></div>
0
0
0
0
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Financial Instruments</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-weight: bold;">Note 7 — Fair Value Measurements</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: &quot;"><div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">Description</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-family: &quot; font-weight: bold;">Quoted Prices in</div><div style="text-align: center; font-family: &quot; font-weight: bold;">Active Markets</div><div style="text-align: center; font-family: &quot; font-weight: bold;">(Level 1)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-family: &quot; font-weight: bold;">Significant Other</div><div style="text-align: center; font-family: &quot; font-weight: bold;">Observable Inputs</div><div style="text-align: center; font-family: &quot; font-weight: bold;">(Level 2)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-family: &quot; font-weight: bold;">Significant Other</div><div style="text-align: center; font-family: &quot; font-weight: bold;">Unobservable Inputs</div><div style="text-align: center; font-family: &quot; font-weight: bold;">(Level 3)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Assets held in Trust Account:</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot; width: 64%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">U.S. Treasury Securities</div></td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>149,509,534</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot; width: 64%; padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Cash equivalents – money market funds</div></td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;"><div>5,792</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot; width: 64%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">149,515,326</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Transfers to/from Levels 1, 2, and 3 are recognized at the end of the reporting period. There were no transfers between levels of the hierarchy for the three months ended March 31, 2021. Level 1 instruments include investments U.S. Treasury securities with an original maturity of 185 days or less.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-weight: bold;">Note 7 — Fair Value Measurements</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: &quot;"><div style="text-indent: -7.2pt; margin-left: 7.2pt; font-weight: bold;">Description</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-family: &quot; font-weight: bold;">Quoted Prices in</div><div style="text-align: center; font-family: &quot; font-weight: bold;">Active Markets</div><div style="text-align: center; font-family: &quot; font-weight: bold;">(Level 1)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-family: &quot; font-weight: bold;">Significant Other</div><div style="text-align: center; font-family: &quot; font-weight: bold;">Observable Inputs</div><div style="text-align: center; font-family: &quot; font-weight: bold;">(Level 2)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;"><div style="text-align: center; font-family: &quot; font-weight: bold;">Significant Other</div><div style="text-align: center; font-family: &quot; font-weight: bold;">Unobservable Inputs</div><div style="text-align: center; font-family: &quot; font-weight: bold;">(Level 3)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot;"><div style="text-indent: -7.2pt; margin-left: 7.2pt;">Assets held in Trust Account:</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot; width: 64%; background-color: #CCEEFF;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">U.S. Treasury Securities</div></td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>149,509,534</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot; width: 64%; padding-bottom: 2px;"><div style="text-indent: -7.2pt; margin-left: 16.2pt;">Cash equivalents – money market funds</div></td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;"><div>5,792</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;"><div>-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; font-family: &quot; width: 64%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">149,515,326</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div style="font-weight: bold;">-</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table></div>
15326
225577
11000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Income Taxes</div><div style="text-align: justify; color: rgb(0, 0, 0);"><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of March 31, 2021. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of March 31, 2021, there were no unrecognized tax benefits and no amounts were accrued for the payment of interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.</div></div>
616462
550
11071
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Cash Held in Trust Account</div><div style="text-align: justify; text-indent: 24.5pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2021, the Company had approximately $149.5 million in cash held in the Trust Account.</div></div>
0
0
149509534
0
0
0
0
149515326
5792
42455
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5389318
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55994
156818
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Recent Accounting Pronouncements</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statement.</div></div>
0
0
-225577
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div><font style="font-weight: bold;">Note 1 — Description of Organization and Business Operations</font></div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">ARYA Sciences Acquisition Corp IV (the “Company”) was incorporated as a Cayman Islands exempted company on August 24, 2020. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">All activity for the period from August 24, 2020 (inception) through March 2, 2021 was related to the Company’s formation and the initial public offering (the “Initial Public Offering”) described below, and since the Initial Public Offering, the search for a prospective initial Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of gains on investments held in the Trust Account (as defined below) from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company’s sponsor is ARYA Sciences Holdings IV, a Cayman Islands exempted limited company (the “Sponsor”).  The registration statement for the Company’s Initial Public Offering was declared effective on February 25, 2021.  On March 2, 2021, the Company consummated its Initial Public Offering of 14,950,000 Class A ordinary shares (the “Public Shares”), including the 1,950,000 Public Shares as a result of the underwriters’ full exercise of their over-allotment option, at an offering price of $10.00 per Public Share, generating gross proceeds of $149.5 million, and incurring offering costs of approximately $8.8 million, inclusive of approximately $5.2 million in deferred underwriting commissions (Note 5).</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Simultaneously with the closing of the Initial Public Offering, the Company consummated the private placement (“Private Placement”) of 499,000 Class A ordinary shares (the “Private Placement Shares”), at a price of $10.00 per Private Placement Share to the Sponsor, generating gross proceeds of approximately $5.0 million (Note 4).</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Upon the closing of the Initial Public Offering and the Private Placement, $149.5 million ($10.00 per Public Share) of the net proceeds of the Initial Public Offering and certain of the proceeds of the Private Placement were placed in a trust account (“Trust Account”), located in the United States, with Continental Stock Transfer & Trust Company acting as trustee, and are invested only in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”) having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as described below.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Shares, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the net assets held in the Trust Account (as defined below) (excluding the amount of deferred underwriting commissions and taxes payable on the interest earned on the Trust Account) at the time of the signing of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company will provide the holders (the “Public Shareholders”) of Public Shares, with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.00 per Public Share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay income taxes). The per-share amount to be distributed to Public Shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 5).</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">These Public Shares are classified as temporary equity upon the completion of the Initial Public Offering in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, only if a majority of the ordinary shares, represented in person or by proxy and entitled to vote thereon, voted at a shareholder meeting are voted in favor of the Business Combination. If a shareholder vote is not required by law and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to the amended and restated memorandum and articles of association which the Company will adopt upon the consummation of the Initial Public Offering (the “Amended and Restated Memorandum and Articles of Association”), conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transactions is required by law, or the Company decides to obtain shareholder approval for business or reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. Additionally, each Public Shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction or vote at all. If the Company seeks shareholder approval in connection with a Business Combination, the initial shareholders (as defined below) agreed to vote their Founder Shares (as defined below in Note 4) and any Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination. Subsequent to the consummation of the Initial Public Offering, the Company will adopt an insider trading policy which will require insiders to: (i) refrain from purchasing shares during certain blackout periods and when they are in possession of any material non-public information and (ii) to clear all trades with the Company’s legal counsel prior to execution. In addition, the initial shareholders agreed to waive their redemption rights with respect to their Founder Shares, Private Placement Shares and Public Shares in connection with the completion of a Business Combination.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Notwithstanding the foregoing, if the Company seeks shareholder approval of its Business Combination and does not conduct redemptions in connection with its Business Combination pursuant to the tender offer rules, the Amended and Restated Memorandum and Articles of Association provide that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the Class A ordinary shares sold in the Initial Public Offering, without the prior consent of the Company.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company’s Sponsor, officers and directors (the “initial shareholders”) agreed not to propose an amendment to the Amended and Restated Memorandum and Articles of Association (a) that would modify the substance or timing of the Company’s obligation to provide holders of its Public Shares the right to have their shares redeemed in connection with a Business Combination or to redeem 100% of the Company’s Public Shares if the Company does not complete its Business Combination within 24 months from the closing of the Initial Public Offering, or March 2, 2023 (the “Combination Period”), or (b) with respect to any other provision relating to the rights of Public Shareholders, unless the Company provides the Public Shareholders with the opportunity to redeem their Class A ordinary shares in conjunction with any such amendment.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">If the Company has not completed a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its income taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and its board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The initial shareholders agreed to waive their liquidation rights with respect to the Founder Shares and Private Placement Shares held by them if the Company fails to complete a Business Combination within the Combination Period. However, if the initial shareholders acquire Public Shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete a Business Combination within the Combination Period. The underwriters agreed to waive their rights to their deferred underwriting commission (see Note 5) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution (including Trust Account assets) will be only $10.00 per share initially held in the Trust Account. In order to protect the amounts held in the Trust Account, the Sponsor agreed to be liable to the Company if and to the extent any claims by a third party (excluding the Company’s independent registered public accounting firm) for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account if less than $10.00 per Public Share due to reductions in the value of the trust assets in the Trust Account, in each case net of the interest that may be withdrawn to pay for the Company’s tax obligations. This liability will not apply with respect to any claims by a third party who executed a waiver of any right, title, interest or claim of any kind in or to any monies held in the Trust Account or to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).</div><div><br /></div><div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (excluding the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">The Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes that the Sponsor’s only assets are securities of the Company. The Sponsor may not be able to satisfy those obligations. None of the Company’s officers or directors will indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses.</font></div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic;">Liquidity and Capital Resources</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2021, the Company had approximately $810,000 in its operating bank account, and working capital of approximately $1.3 million.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company’s liquidity needs to date have been satisfied through a contribution of $25,000 from Sponsor to cover for certain expenses in exchange for the issuance of the Founder Shares, the loan of approximately $161,000 from the Sponsor pursuant to the Note (as defined in Note 4), and the proceeds from the consummation of the Private Placement not held in the Trust Account. The Company fully repaid the Note upon closing of the Initial Public Offering.  In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 4). As of March 31, 2021, there were no amounts outstanding under any Working Capital Loan.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Based on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity from the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors to meet its needs through the earlier of the consummation of a Business Combination or one year from this filing. Over this time period, the Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination.</div></div>
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Note 4 — Related Party Transactions</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Founder Shares</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">On January 4, 2021, the Sponsor paid $25,000 to cover for certain expenses on behalf of the Company in exchange for issuance of 3,737,500 Class B ordinary shares, par value $0.0001, (the “Founder Shares”). In February 2021, the Sponsor transferred an aggregate of 90,000 Founder Shares to the Company’s independent directors. The Sponsor agreed to forfeit up to 487,500 Founder Shares to the extent that the over-allotment option was not exercised in full by the underwriters, so that the Founder Shares would represent 20.0% of the Company’s issued and outstanding ordinary shares (excluding the Private Placement Shares) after the Initial Public Offering.  The underwriters fully exercised the over-allotment option on March 2, 2021; thus, these 487,500 Founder Shares were no longer subject to forfeiture.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The initial shareholders agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (A) one year after the completion of the initial Business Combination and (B) subsequent to the initial Business Combination, (x) if the closing price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Public Shareholders having the right to exchange their ordinary shares for cash, securities or other property.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Private Placement Shares</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of 499,000 Private Placement Shares, at a price of $10.00 per Private Placement Share to the Sponsor, generating gross proceeds of approximately $5.0 million.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Private Placement Shares will not be transferable or salable until 30 days after the completion of the initial Business Combination. Certain proceeds from the Private Placement Shares will be added to the proceeds from the Initial Public Offering to be held in the Trust Account.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Sponsor and the Company’s officers and directors agreed, subject to limited exceptions, not to transfer, assign or sell any of their Private Placement Shares until 30 days after the completion of the initial Business Combination.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Related Party Loans</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Sponsor paid for certain expenses on behalf of the Company totaling approximately $11,000 as of December 31, 2020 and the Company recorded such amount in due to related party in the accompanying balance sheet. On March 2, 2021, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover for expenses related to the Initial Public Offering pursuant to a promissory note (the “Note”), and reclassify the outstanding amount due to related party as borrowing under the Note. This loan was non-interest bearing and payable upon the completion of the Initial Public Offering. The Company borrowed approximately $161,000 under the Note and fully repaid the Note upon closing of the Initial Public Offering.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company may repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans may be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of the proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lenders’ discretion, up to $1.5 million of such Working Capital Loans may be convertible into shares of the post Business Combination entity at a price of $10.00 per share. The shares would be identical to the Private Placement Shares. As of March 31, 2021, the Company had no outstanding borrowings under the Working Capital Loans.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Administrative Support Agreement</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Commencing on the date that the Company’s registration statement relating to its Initial Public Offering became effective through the earlier of consummation of the initial Business Combination and the Company’s liquidation, the Company will reimburse the Sponsor for office space, secretarial and administrative services provided to the Company in the amount of $10,000 per month. The Company incurred approximately $11,000 in general and administrative expenses in the accompanying unaudited condensed statements of operations for the three months ended March 31, 2021.</div></div>
161216
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Note 6 — Shareholders’ Equity</div><div><br /></div><div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;"><font style="font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Preference Shares</font><font style="font-family: 'Times New Roman';"> — The Company is authorized to issue 1,000,000 preference shares with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of March 31, 2021 and December 31, 2020, there were no preference shares issued or outstanding.</font></div><div><br /></div><div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;"><font style="font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Class A Ordinary Shares</font><font style="font-family: 'Times New Roman';"> — The Company is authorized to issue 479,000,000 Class A ordinary shares with a par value of $0.0001 per share. As of March 31, 2021 and December 31, 2020, there were 1,393,369 and 0 Class A ordinary shares outstanding, excluding 14,055,631 and 0 Class A ordinary shares subject to possible conversion that were classified as temporary equity in the accompanying condensed balance sheets respectively.</font></div><div><br /></div><div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;"><font style="font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Class B Ordinary Shares </font><font style="font-family: 'Times New Roman';">— The Company is authorized to issue 20,000,000 Class B ordinary shares with a par value of $0.0001 per share. On January 4, 2021, the Company issued 3,737,500 Class B ordinary shares, of which up to 487,500 shares were subject to forfeiture to the Company by the Sponsor for no consideration to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the initial shareholders would collectively own 20% of the Company’s issued and outstanding ordinary shares (excluding the Private Placement Shares) (See Note 4). The Company had 3,737,500 and 0 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively.<br /></font></div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the shareholders except as required by law.</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Class B ordinary shares will automatically convert into Class A ordinary shares on the first business day following the consummation of the initial Business Combination at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding (excluding the Private Placement Shares) upon the consummation of the Initial Public Offering, plus (ii) the sum of the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the initial Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in the initial Business Combination and any Private Placement Shares issued to the Sponsor, members of the Company’s management team or any of their affiliates upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.</div></div>
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Note 8 — Subsequent Events</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">Management has evaluated subsequent events to determine if events or transactions occurring through the date the unaudited condensed financial statements were available for issuance, require potential adjustment to or disclosure in the unaudited condensed financial statements and has concluded that all such events that would require recognition or disclosure have been recognized or disclosed.</div></div>
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Use of Estimates</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The preparation of financial statement in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement. Actual results could differ from those estimates.</div></div>
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ARYA Sciences Acquisition Corp IV
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Note 3 — Initial Public Offering</div><div><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">On March 2, 2021, the Company consummated its Initial Public Offering of 14,950,000 Public Shares, including the 1,950,000 Public Shares as a result of the underwriters’ full exercise of their over-allotment option, at an offering price of $10.00 per Public Share, generating gross proceeds of $149.5 million, and incurring offering costs of approximately $8.8 million, inclusive of approximately $5.2 million in deferred underwriting commissions.</div></div>
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22925
5232500
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Class A Ordinary Shares Subject to Possible Redemption</div><div style="text-align: justify; text-indent: 24.5pt;"><font style="color: rgb(0, 0, 0);"></font><br /></div><div style="text-align: justify; color: rgb(0, 0, 0);">The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) are classified as liability instruments and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, As of March 31, 2021, 14,055,631 Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.</div></div>
P185D
0
14055631
0
140554904
1406
140556310
0
499000
0
0
50
4989950
0
4990000
149500000
1495
0
149498505
14950000
0
5232500
5232500
3
0.20
P45D
0.35
25000
1300000