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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Achari Ventures Holdings Corporation I | NASDAQ:AVHI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.93 | 10.92 | 11.24 | 0 | 01:00:00 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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86-1671207
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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Units, each consisting of one share of common stock, par value $0.0001 per share, and one Redeemable Warrant
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AVHIU
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The Nasdaq Stock Market LLC
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Shares of common stock, par value $0.0001 per share, included as part of the Units
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AVHI
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The Nasdaq Stock Market LLC
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Redeemable Warrants, each exercisable for three quarters of one share of common stock for $11.50 per share, included as part of the Units
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AVHIW
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The Nasdaq Stock Market LLC
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Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
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Page
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Item 1.
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1
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2
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3
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4
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5
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Item 2.
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12
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Item 3.
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15
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Item 4.
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16
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Item 1.
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16
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Item 1A.
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16
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Item 2.
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16
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Item 3.
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17
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Item 4.
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17
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Item 5.
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17
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Item 6.
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17
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Exhibit 31.1
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Exhibit 31.2
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Exhibit 32.1
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Exhibit 32.2
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18
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September 30, 2021
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ASSETS
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CURRENT ASSETS
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Cash
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10,678 | |||
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Total current assets
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10,678 | |||
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OTHER ASSETS
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Deferred offering costs
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103,345 | |||
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Total other assets
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103,345 | |||
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TOTAL ASSETS
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$ | 114,023 | ||
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LIABILITIES AND STOCKHOLDER’S EQUITY
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CURRENT LIABILITIES
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Accounts payable and accrued expenses
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$ | 2,171 | ||
Accrued offering costs
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49,101 | |||
Note payable - related party
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40,000 | |||
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Total current liabilities
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91,272 | |||
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TOTAL LIABILITIES
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$ | 91,272 | ||
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COMMITMENTS AND CONTINGENCIES
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STOCKHOLDER’S EQUITY
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Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding
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$ | — | ||
Common stock; $0.0001 par value; 100,000,000 shares authorized; 2,875,000 issued and outstanding (1)(2)
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287 | |||
Additional
paid-in
capital
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24,713 | |||
Accumulated deficit
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(2,249 | ) | ||
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TOTAL STOCKHOLDER’S EQUITY
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22,751 | |||
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TOTAL LIABILITIES AND
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STOCKHOLDER’S EQUITY
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$ | 114,023 | ||
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(1) |
This number includes an aggregate of up to 375,000 shares of Common stock subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter (see Note 4).
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(2) |
Shares of Common stock have been retroactively restated to reflect the recapitalization of the Company in the form of a 1.3333 for 1 stock split (see Note 6).
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For the three
months ended September 30, 2021 |
For the period
January 25, 2021 (inception) through September 30, 2021 |
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EXPENSES
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General and administrative expenses
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$ | 1,100 | $ | 2,249 | ||||
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Total expenses
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1,100 | 2,249 | ||||||
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NET LOSS
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(1,100 | ) | (2,249 | ) | ||||
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WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED (1)(2)
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2,500,000 | 2,500,000 | ||||||
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BASIC AND DILUTED NET LOSS PER SHARE
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($ | 0.00 | ) | ($ | 0.00 | ) | ||
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(1) |
This number excludes an aggregate of up to 375,000 shares of common stock subject to forfeiture if the overallotment option is not exercised in full or in part by the underwriter (see Note 4).
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(2) |
Shares of Common stock have been retroactively restated to reflect the recapitalization of the Company in the form of a 1.3333 for 1 stock split (see Note 6).
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Common stock
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Total
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Additional
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Accumulated
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stockholder’s
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Shares
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Amount
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paid-in capital
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deficit
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equity
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Balance, January 25, 2021 (inception)
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— | $ | — | $ | — | $ | — | $ | — | |||||||||||
Issuance of common stock to Sponsor
(1)(2)
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2,875,000 | $ | 287 | $ | 24,713 | — | $ | 25,000 | ||||||||||||
Net loss
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— | — | — | (1,149 | ) | (1,149 | ) | |||||||||||||
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Balance, June 30, 2021
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2,875,000 | $ | 287 | $ | 24,713 | $ | (1,149 | ) | $ | 23,851 | ||||||||||
Net loss
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— | — | — | (1,100 | ) | (1,100 | ) | |||||||||||||
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Balance, September 30, 2021
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2,875,000 | $ | 287 | $ | 24,713 | $ | (2,249 | ) | $ | 22,751 | ||||||||||
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(1) |
This number includes an aggregate of up to 375,000 common stock subject to forfeiture if the overallotment option is not exercised in full or in part by the underwriter (see Note 4).
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(2) |
Shares of Common stock have been retroactively restated to reflect the recapitalization of the Company in the form of a 1.3333 for 1 stock split (see Note 6).
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• |
in whole and not in part;
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• |
at a price of $0.01 per warrant;
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• |
at any time after the warrants become exercisable;
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• |
upon not less than 30 days’ prior written notice of redemption to each warrant holder; and
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• |
if, and only if, the reported last sale price of the Public Shares equals or exceeds $16.50 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within
a 30-trading day
period commencing once the warrants become exercisable and ending three business days before the Company sends the notice of redemption to the warrant holders.
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ITEM 3.
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DEFAULTS UPON SENIOR SECURITIES
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ITEM 4.
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MINE SAFETY DISCLOSURES
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ITEM 5.
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OTHER INFORMATION
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ITEM 6.
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EXHIBITS
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* |
These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
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ACHARI VENTURES HOLDINGS CORP. I
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||||||
Date: November 26, 2021 | By: |
/s/ Vikas Desai
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Name: | Vikas Desai | |||||
Title: | Chief Executive Officer and Director | |||||
(Principal Executive Officer) | ||||||
Date: November 26, 2021 | By: |
/s/ Mitchell Hara
|
||||
Name: | Mitchell Hara | |||||
Title: |
Chief Operating Officer and Chief Financial Officer
|
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(Principal Financial and Accounting Officer) |
1 Year Achari Ventures Holdings... Chart |
1 Month Achari Ventures Holdings... Chart |
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