XML 66 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Balance Sheet - USD ($)
Jun. 30, 2021
Feb. 04, 2021
Dec. 31, 2020
Dec. 31, 2019
Current assets:        
Cash $ 1,176,974    
Prepaid expenses 153,351      
Total current assets 1,330,325      
Investments held in Trust Account 552,007,459      
Deferred offering costs associated with initial public offering   29,249    
Total Assets 553,337,784 29,249    
Current liabilities:        
Accounts payable 44,029      
Accrued expenses 70,000 5,000    
Franchise tax payable 84,433      
Total current liabilities 198,462 5,000    
Non-current liabilities:        
Deferred underwriting commissions 19,320,000      
Derivative warrant liabilities 61,604,799      
Total Liabilities 81,123,261      
Commitments and contingencies    
Class A common stock, $0.0001 par value; 46,721,452 shares subject to possible redemption at $10.00 per share 467,214,520      
Stockholders’ Equity:        
Preferred stock value    
Class A common stock, $0.0001 par value; 380,000,000 shares authorized; 8,478,548 shares issued and outstanding (excluding 46,721,452 shares subject to possible redemption) 848    
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 13,800,000 shares issued and outstanding 1,380 1,380 [1],[2]    
Additional paid-in capital 36,838,090 23,620    
Accumulated deficit (31,840,315) (751)    
Total Stockholders’ Equity 5,000,003 24,249    
Total Liabilities and Stockholders’ Equity 553,337,784 $ 29,249    
EQRx, INC.        
Current assets:        
Cash 500,158,000   $ 489,682,000 $ 18,478,000
Prepaid expenses and other current assets 8,798,000   2,594,000 25,000
Total current assets 508,956,000   492,276,000 18,503,000
Property and equipment, net 2,436,000   2,720,000 78,000
Restricted cash 633,000   633,000 844,000
Right-of-use asset 3,799,000   4,863,000
Other non-current assets 5,269,000   36,000 114,000
Total Assets 521,093,000   500,528,000 19,539,000
Current liabilities:        
Accounts payable 7,823,000   1,319,000 1,045,000
Accrued expenses 13,465,000   11,165,000 1,114,000
Convertible promissory notes     25,882,000
Lease liability, current 2,927,000   1,712,000
Total current liabilities 24,215,000   14,196,000 28,041,000
Non-current liabilities:        
Lease liability, non-current 1,861,000   3,373,000
Restricted stock repurchase liability 1,169,000   877,000 4,000
Total Liabilities 27,245,000   18,446,000 28,045,000
Commitments and contingencies  
Stockholders’ Equity:        
Class A common stock, $0.0001 par value; 380,000,000 shares authorized; 8,478,548 shares issued and outstanding (excluding 46,721,452 shares subject to possible redemption) 4,000   3,000 2,000
Additional paid-in capital 2,267,000   415,000
Accumulated deficit (319,834,000)   (258,491,000) (8,508,000)
Total Stockholders’ Equity (317,563,000)   (258,073,000) (8,506,000)
Total Liabilities and Stockholders’ Equity 521,093,000   500,528,000 19,539,000
Series A Convertible Preferred Stock | EQRx, INC.        
Non-current liabilities:        
Convertible preferred stock value 243,536,000   243,536,000
Series B Convertible Preferred Stock | EQRx, INC.        
Non-current liabilities:        
Convertible preferred stock value $ 567,875,000   $ 496,619,000
[1] The shares and the associated amounts have been retroactively restated to reflect a 1:1.2 stock split of Class B common stock on April 6, 2021, resulting in an aggregate of 13,800,000 shares of Class B common stock outstanding (see Note 5).
[2] This number includes up to 1,800,000 shares of Class B common stock subject to forfeiture by the Sponsor if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).