OmniAb(US:OABI)2021-09-22 22:18Financial Performance - The company reported a net loss of $2,185 for the three months ended June 30, 2021, and a total net loss of $9,971 since inception [99]. - The company had net cash used in operating activities of $5 due to its net loss, offset by amounts due to the sponsor [100]. - The company does not expect to generate operating revenues until after the completion of its initial business combination [98]. Financial Position - As of June 30, 2021, the company had $36,145 in its operating bank account [102]. - The company has no off-balance sheet arrangements as of June 30, 2021 [110]. Fundraising and Expenses - The company raised gross proceeds of $230,000,000 from its Initial Public Offering of 23,000,000 units at $10.00 per unit [103]. - The company intends to use substantially all funds held in the trust account to complete its initial business combination [104]. - The company expects to incur approximately $325,000 for legal, accounting, and due diligence expenses related to business combinations [108]. - The underwriters received a cash underwriting discount of $4,600,000 upon the closing of the Initial Public Offering [112]. - The company issued an unsecured promissory note to the Sponsor for up to $300,000 to cover expenses related to the Initial Public Offering [111].