QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
one-half of one redeemable warrant |
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Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ||||
Emerging growth company |
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MARCH 31, 2022 (Unaudited) |
DECEMBER 31, 2021 |
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ASSETS |
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CURRENT ASSETS |
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Cash |
$ | $ | ||||||
Prepaid expenses |
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Total current assets |
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OTHER ASSETS |
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Cash and Investments in Trust Account |
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Reimbursement receivable |
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Total other assets |
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Total assets |
$ | $ | ||||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT |
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LIABILITIES |
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CURRENT LIABILITIES |
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Due to Sponsor |
$ | $ | ||||||
Accrued expenses |
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Total current liabilities |
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LONG-TERM LIABILITIES |
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Deferred underwriting fee payable |
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Deferred advisory fees payable |
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Total long-term liabilities |
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Total liabilities |
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COMMITMENTS AND CONTINGENCIES |
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Class A Ordinary Shares subject to possible redemption, |
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SHAREHOLDERS’ DEFICIT |
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Preference Shares; $ |
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Class A Ordinary Shares; $ (excluding |
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Class B Ordinary Shares; $ |
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Additional paid-in capital |
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Accumulated deficit |
( |
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Total Shareholders’ Deficit |
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Total Liabilities, C l ass A Ordinary Shares subject to possible redemption and Shareholders’ Deficit |
$ | $ | ||||||
REVENUES |
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Interest income |
$ | |||
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EXPENSES |
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General and administrative |
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Total expenses |
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OTHER INCOME |
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Unrealized gain on investments held in Trust Account |
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Net loss |
$ | ( |
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Weighted average shares outstanding of Class A ordinary shares |
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Basic and diluted net loss per share, Class A ordinary shares |
$ | ( |
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Weighted average shares outstanding of Class B ordinary shares |
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Basic and diluted net loss per share, Class B ordinary shares |
$ | ( |
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Ordinary shares |
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Class A |
Class B |
Preference shares |
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Shares |
Amount |
Shares |
Amount |
Shares |
Amount |
Additional paid-in capital |
Accumulated deficit |
Total shareholders’ deficit |
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Balance, December 31, 2021 |
$ | $ | $ |
$ |
$ | ( |
) | $ | ( |
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Net loss |
— | — | — | — | — | — | — | ( |
) | ( |
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Balance, March 31, 2022 |
$ | $ | $ |
$ |
$ | ( |
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Cash Flows from Operating Activities |
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Net loss |
$ | ( |
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Adjustments to reconcile net loss to net cash used in operating activities: |
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Unrealized gain on investments |
( |
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Changes in operating assets and liabilities: |
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Prepaid expenses |
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Accrued expenses |
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Net cash used in operating activities |
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Cash Flows from Investing Activities |
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Divestment of cash in Trust Account |
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Purchase of investments in Trust Account |
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Net cash flows used in investing activities |
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Cash - Beginning of period |
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Cash - End of period |
$ | |||
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Gross proceeds from IPO |
$ | |||
Less: |
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Proceeds allocated to Public Warrants |
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Class A ordinary shares issuance costs |
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Plus: |
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Accretion of carrying value to redemption value |
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Class A ordinary shares subject to possible redemption |
$ |
For the three months ended March 31, 2022 |
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Class A |
Class B |
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Basic and diluted net loss per share: |
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Numerator: |
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Allocation of net loss |
($ | ) | ($ | ) | ||||
Denominator: |
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Weighted-average shares outstanding |
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Basic and diluted net loss per share |
($ | ) | ($ | ) |
• | in whole and not in part; |
• | at a price of $ |
• | upon a minimum of 30 days’ prior written notice of redemption (the “ redemption period”); and |
32.1** | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
32.2** | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
101.INS* | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) | |
101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
101.SCH* | Inline XBRL Taxonomy Extension Schema Document | |
101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB* | Inline XBRL Taxonomy Extension Labels Linkbase Document | |
101.PRE* | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
104* | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
* | Filed herewith. |
** | Furnished. |
(1) | Previously filed as an exhibit to our Current Report on Form 8-K filed on November 16, 2021 and incorporated by reference herein. |
LAMF GLOBAL VENTURES CORP. I | ||||||
Date: May 13, 2022 | /s/ Morgan Earnest | |||||
Name: | Morgan Earnest | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial and Accounting Officer) |