Redwire (RDW)2021-08-13 21:13Financial Performance - For the six months ended June 30, 2021, the Company incurred a loss from operations of $921,610, primarily due to professional fees[122] - The Company recognized $4,570,441 in other expenses for the same period, driven by a loss in the fair value of warrants[122] IPO and Capital Raising - The Company completed its IPO on November 27, 2020, raising gross proceeds of $163,776,220 from the sale of 16,377,622 units[116] - The underwriter in the IPO is entitled to a deferred fee of $0.35 per unit, totaling $5,732,168, payable only if the business combination is completed[140] - The Company expects to incur significant costs in pursuing acquisition plans and cannot assure the success of raising capital or completing a business combination[118] Trust Account and Cash Position - As of June 30, 2021, the Trust Account held $166,290,257, compared to $166,243,614 as of December 31, 2020[124] - As of June 30, 2021, the Company had cash of $557,200 outside the Trust Account[125] Business Combination and Agreements - The Company entered into a Merger Agreement on March 25, 2021, to merge with Redwire, with the SEC declaring the registration statement effective on August 11, 2021[119] - The Company does not anticipate needing additional funds to meet operating expenditures prior to the business combination[130] Obligations and Arrangements - The Company has no off-balance sheet arrangements or significant contractual obligations other than a monthly fee of $15,000 to the Sponsor for administrative services[139]