|
Cayman Islands
(State or other jurisdiction of incorporation or organization) |
| |
6770
(Primary Standard Industrial Classification Code Number) |
| |
(I.R.S. Employer Identification No.) |
|
|
Jocelyn M. Arel
Heidi E. Mayon Daniel J. Espinoza Goodwin Procter LLP 100 Northern Avenue Boston, Massachusetts 02210 Tel: (617) 570-1000 |
| |
Gregg A. Noel
P. Michelle Gasaway Skadden, Arps, Slate, Meagher & Flom LLP 525 University Avenue Palo Alto, California 94301 Tel: (650) 470-4500 |
|
| Large accelerated filer | | | ☐ | | | Accelerated filer | | | ☐ | |
| Non-accelerated filer | | | ☒ | | | Smaller reporting company | | | ☒ | |
| | | | | | | Emerging growth company | | | ☒ | |
CALCULATION OF REGISTRATION FEE
|
| |||||||||||||||||||||||||
TITLE OF EACH CLASS OF
SECURITIES TO BE REGISTERED |
| | |
AMOUNT
BEING REGISTERED |
| | |
PROPOSED
MAXIMUM OFFERING PRICE PER SECURITY(1) |
| | |
PROPOSED
MAXIMUM AGGREGATE OFFERING PRICE(1) |
| | |
AMOUNT OF
REGISTRATION FEE |
| |||||||||
Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-third of a redeemable Warrant to acquire one Class A ordinary shares(2)
|
| | |
28,750,000 units
|
| | | | $ | 10.00 | | | | | | $ | 287,500,000 | | | | | | $ | 31,366, | | |
Class A ordinary shares included as part of the Units(1)
|
| | |
28,750,000 shares
|
| | | | | — | | | | | | | — | | | | | | | —(4) | | |
Redeemable warrants to
acquire one Class A ordinary share included as part of the Units(3) |
| | |
9,583,333 warrants
|
| | | | | — | | | | | | | — | | | | | | | —(4) | | |
Total
|
| | | | | | | | | | | | | | | $ | 287,500,000 | | | | | | $ | 31,366 | | |
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 31 | | | |
| | | | 32 | | | |
| | | | 70 | | | |
| | | | 71 | | | |
| | | | 74 | | | |
| | | | 75 | | | |
| | | | 77 | | | |
| | | | 78 | | | |
| | | | 83 | | | |
MANAGEMENT | | | | | 112 | | |
| | | | 121 | | | |
| | | | 124 | | | |
| | | | 127 | | | |
| | | | 152 | | | |
| | | | 163 | | | |
| | | | 169 | | | |
| | | | 169 | | | |
| | | | 169 | | |
| | |
October 30, 2020
|
| |||
Balance Sheet Data: | | | | | | | |
Working capital (deficiency)
|
| | | $ | (11,398) | | |
Total assets
|
| | | $ | 38,627 | | |
Total liabilities
|
| | | $ | 25,025 | | |
Shareholder’s equity
|
| | | $ | 13,602 | | |
| | |
Without
Over-Allotment Option |
| |
Over-Allotment
Option Exercised |
| ||||||
Gross proceeds | | | | | | | | | | | | | |
Gross proceeds from units offered to public(1)
|
| | | $ | 250,000,000 | | | | | $ | 287,500,000 | | |
Gross proceeds from sale of the private placement units offered in a
private placement to the sponsor |
| | | | 7,250,000 | | | | | | 8,000,000 | | |
Total gross proceeds
|
| | | $ | 257,250,000 | | | | | $ | 295,500,000 | | |
Estimated Offering expenses(2) | | | | | | | | | | | | | |
Underwriting commissions (2.0% of gross proceeds from units offered to public, excluding deferred portion)(3)
|
| | | $ | 5,000,000 | | | | | $ | 5,750,000 | | |
Legal fees and expenses
|
| | | | 300,000 | | | | | | 300,000 | | |
Printing and engraving expenses
|
| | | | 40,000 | | | | | | 40,000 | | |
Accounting fees and expenses
|
| | | | 60,000 | | | | | | 60,000 | | |
SEC/FINRA Expenses
|
| | | | 80,000 | | | | | | 80,000 | | |
Travel and road show
|
| | | | 20,000 | | | | | | 20,000 | | |
NYSE listing and filing fees
|
| | | | 75,000 | | | | | | 75,000 | | |
Director & Officer liability insurance premiums
|
| | | | 375,000 | | | | | | 375,000 | | |
Miscellaneous
|
| | | | 300,000 | | | | | | 300,000 | | |
Total estimated offering expenses (excluding underwriting commissions)
|
| | | $ | 6,250,000 | | | | | $ | 7,000,000 | | |
Proceeds after estimated offering expenses
|
| | | $ | 251,000,000 | | | | | $ | 288,500,000 | | |
Held in trust account(3)
|
| | | $ | 250,000,000 | | | | | $ | 287,500,000 | | |
% of public offering size
|
| | | | 100% | | | | | | 100% | | |
Not held in trust account
|
| | | $ | 1,000,000 | | | | | $ | 1,000,000 | | |
| | |
Amount
|
| |
% of Total
|
| ||||||
Legal, accounting, due diligence, travel, and other expenses in connection with any business combination(6)
|
| | | | 350,000 | | | | | | 35.00% | | |
Legal and accounting fees related to regulatory reporting obligations
|
| | | | 150,000 | | | | | | 15.00% | | |
Administrative and support services
|
| | | | 240,000 | | | | | | 24.00% | | |
NYSE continued listing fees
|
| | | | 55,000 | | | | | | 5.50% | | |
Reserve for Liquidation
|
| | | | 100,000 | | | | | | 10.00% | | |
Other miscellaneous expenses
|
| | | | 105,000 | | | | | | 10.50% | | |
Total
|
| | | $ | 1,000,000 | | | | | | 100.0% | | |
| | |
Without Over-allotment
|
| |
With Over-allotment
|
| ||||||||||||||||||
Public offering price
|
| | | | | | | | | $ | 10.00 | | | | | | | | | | | $ | 10.00 | | |
Net tangible book deficit before this offering
|
| | | | (0.00) | | | | | | | | | | | | (0.00) | | | | | | | | |
Increase attributable to public shareholders
|
| | | | 0.61 | | | | | | | | | | | | 0.53 | | | | | | | | |
Pro forma net tangible book value after this offering and the sale of the private placement units
|
| | | | | | | | | | 0.61 | | | | | | | | | | | | 0.53 | | |
Dilution to public shareholders
|
| | | | | | | | | $ | 9.39 | | | | | | | | | | | $ | 9.47 | | |
Percentage of dilution to public shareholders
|
| | | | | | | | | | 93.9% | | | | | | | | | | | | 94.7% | | |
| | |
Shares Purchased
|
| |
Total Consideration
|
| |
Average Price
Per Share |
| |||||||||||||||||||||
| | |
Number
|
| |
Percentage
|
| |
Amount
|
| |
Percentage
|
| ||||||||||||||||||
Class B Ordinary Shares(1)
|
| | | | 6,250,000 | | | | | | 19.5% | | | | | $ | 25,000 | | | | | | 0.01% | | | | | $ | 0.00 | | |
Private Placement Unitholders
|
| | | | 725,000 | | | | | | 2.3% | | | | | | 7,250,000 | | | | | | 2.82% | | | | | $ | 10.00 | | |
Public Shareholders
|
| | | | 25,000,000 | | | | | | 78.2% | | | | | | 250,000,000 | | | | | | 97.17% | | | | | $ | 10.00 | | |
| | | | | 31,975,000 | | | | | | 100.0% | | | | | $ | 257,275,000 | | | | | | 100.00% | | | | | | | | |
| | |
Without
Over-allotment |
| |
With
Over-allotment |
| ||||||
Numerator: | | | | | | | | | | | | | |
Net tangible book deficit before this offering
|
| | | $ | (11,398) | | | | | $ | (11,398) | | |
Net proceeds from this offering and sale of the private placement units(1)
|
| | | | 251,000,000 | | | | | | 288,500,000 | | |
Plus: Offering costs paid in advance, excluded from tangible book value before this offering
|
| | | | 25,000 | | | | | | 25,000 | | |
Less: Deferred underwriting commissions
|
| | | | (8,750,000) | | | | | | (10,062,500) | | |
Less: Proceeds held in trust subject to redemption(2)
|
| | | | (237,263,600) | | | | | | (273,451,100) | | |
| | | | $ | 5,000,002 | | | | | $ | 5,000,002 | | |
Denominator: | | | | | | | | | | | | | |
Ordinary shares outstanding prior to this offering
|
| | | | 7,187,500 | | | | | | 7,187,500 | | |
Ordinary shares forfeited if over-allotment is not exercised
|
| | | | (937,500) | | | | | | — | | |
Ordinary shares included in the units offered
|
| | | | 25,000,000 | | | | | | 28,750,000 | | |
Ordinary shares included in the private placement units offered
|
| | | | 725,000 | | | | | | 800,000 | | |
Less: Ordinary shares subject to redemption
|
| | | | (23,726,360) | | | | | | (27,345,110) | | |
| | | | | 8,248,640 | | | | | | 9,392,390 | | |
| | |
October 30, 2020
|
| |||||||||
| | |
Actual
|
| |
As Adjusted(1)
|
| ||||||
Note payable – related party(2)
|
| | | $ | 25 | | | | | $ | — | | |
Deferred underwriting commissions(3)
|
| | | | — | | | | | | 8,750,000 | | |
Class A ordinary shares, $0.0001 par value, 200,000,000 shares authorized; -0- and 23,726,360 shares are subject to possible redemption, actual and as adjusted, respectively(4)
|
| | | | — | | | | | | 237,263,600 | | |
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none
issued and outstanding, actual and as adjusted |
| | | | — | | | | | | — | | |
Class A ordinary shares, $0.0001 par value, 200,000,000 shares
authorized; -0- and 1,998,640 shares issued and outstanding (excluding -0- and 23,726,360 shares subject to possible redemption), actual and as adjusted, respectively |
| | | | — | | | | | | 200 | | |
Class B ordinary shares, $0.0001 par value, 20,000,000 shares authorized, 7,187,500 and 6,250,000 shares issued and outstanding, actual and as adjusted, respectively
|
| | | | 719 | | | | | | 625 | | |
Additional paid-in capital
|
| | | | 24,281 | | | | | | 5,010,575 | | |
Accumulated deficit
|
| | | | (11,398) | | | | | | (11,398) | | |
Total shareholders’ equity
|
| | | $ | 13,602 | | | | | $ | 5,000,002 | | |
Total capitalization
|
| | | $ | 13,627 | | | | | $ | 251,013,602 | | |