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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Burgundy Technology Acquition Corporation | NASDAQ:BTAQ | 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% | 10.04 | 10.04 | 10.05 | 0 | 01:00:00 |
|
Cayman Islands
|
| |
N/A
|
|
|
(State or other jurisdiction of
incorporation or organization) |
| |
(I.R.S. Employer
Identification Number) |
|
|
Title of each class
|
| |
Trading
Symbol(s) |
| |
Name of each exchange
on which registered |
|
|
Units, each consisting of one Class A Ordinary Share and one-half of one Redeemable Warrant
|
| |
BTAQU
|
| |
The NASDAQ Stock Market LLC
|
|
| Class A Ordinary Shares, par value $0.0001 per share | | |
BTAQ
|
| |
The NASDAQ Stock Market LLC
|
|
|
Warrants, each whole warrant exercisable for one Class A Ordinary Share for $11.50 per share
|
| |
BTAQW
|
| |
The NASDAQ Stock Market LLC
|
|
|
Large accelerated filer
☐
|
| |
Accelerated filer
☐
|
|
|
Non-accelerated filer
☒
|
| |
Smaller reporting company
☒
|
|
| | | |
Emerging growth company
☒
|
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| | |
Page No.
|
| |||
PART I. FINANCIAL INFORMATION
|
| | | | | | |
| | | | 3 | | | |
| | | | 3 | | | |
| | | | 4 | | | |
| | | | 5 | | | |
| | | | 6 | | | |
| | | | 7 | | | |
| | | | 21 | | | |
| | | | 25 | | | |
| | | | 25 | | | |
PART II. OTHER INFORMATION
|
| | | | | | |
| | | | 26 | | | |
| | | | 26 | | | |
| | | | 26 | | | |
| | | | 26 | | | |
| | | | 26 | | | |
| | | | 26 | | | |
| | | | 27 | | | |
PART III. SIGNATURES
|
| | | | | | |
| | |
March 31, 2021
|
| |
December 31, 2020
|
| ||||||
| | |
(unaudited)
|
| | | | | | | |||
Assets | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash
|
| | | $ | 830,240 | | | | | $ | 974,815 | | |
Prepaid expenses
|
| | | | 137,617 | | | | | | 136,636 | | |
Total current assets
|
| | | | 967,857 | | | | | | 1,111,451 | | |
Investments held in Trust Account
|
| | | | 346,741,889 | | | | | | 346,736,767 | | |
Total assets
|
| | | $ | 347,709,746 | | | | | $ | 347,848,218 | | |
Liabilities and Shareholders’ Equity | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | |
Accounts payable
|
| | | $ | 17,734 | | | | | $ | 9,352 | | |
Accrued expenses
|
| | | | 135,000 | | | | | | 80,000 | | |
Total current liabilities
|
| | | | 152,734 | | | | | | 89,352 | | |
Derivative warrant liabilities
|
| | | | 19,392,500 | | | | | | 34,081,880 | | |
Deferred underwriting commissions
|
| | | | 12,075,000 | | | | | | 12,075,000 | | |
Total liabilities
|
| | | | 31,620,234 | | | | | | 46,246,232 | | |
Commitments and Contingencies | | | | | | | | | | | | | |
Class A ordinary shares, $0.0001 par value; 30,954,180 and
29,512,635 shares subject to possible redemption at $10.05 per share as of March 31, 2021 and December 31, 2020, respectively |
| | | | 311,089,509 | | | | | | 296,601,983 | | |
Shareholders’ Equity: | | | | | | | | | | | | | |
Preference shares, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding
|
| | | | — | | | | | | — | | |
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 4,608,320 and 6,049,865 shares issued and outstanding (excluding 30,954,180 and 29,512,635 shares subject to possible redemption) as of March 31, 2021 and December 31, 2020, respectively
|
| | | | 461 | | | | | | 605 | | |
Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 8,625,000 shares issued and outstanding as of March 31, 2021 and December 31, 2020
|
| | | | 863 | | | | | | 863 | | |
Additional paid-in capital
|
| | | | 6,398,201 | | | | | | 20,885,583 | | |
Accumulated deficit
|
| | | | (1,399,522) | | | | | | (15,887,048) | | |
Total shareholders’ equity
|
| | | | 5,000,003 | | | | | | 5,000,003 | | |
Total Liabilities and Shareholders’ Equity
|
| | | $ | 347,709,746 | | | | | $ | 347,848,218 | | |
| Operating expenses: | | | | | | | |
|
General and administrative expenses
|
| | | $ | 206,976 | | |
|
Loss from operations
|
| | | | (206,976) | | |
| Other income: | | | | | | | |
|
Change in fair value of derivative warrant liabilities
|
| | | | 14,689,380 | | |
|
Investment income from the Trust Account
|
| | | | 5,122 | | |
|
Total other income
|
| | | | 14,694,502 | | |
|
Net income
|
| | | $ | 14,487,526 | | |
|
Weighted average Class A ordinary shares outstanding, basic and diluted
|
| | | | 35,562,500 | | |
|
Basic and diluted net income per ordinary share, Class A
|
| | | $ | 0.00 | | |
|
Weighted average Class B ordinary shares outstanding, basic and diluted
|
| | | | 8,625,000 | | |
|
Basic and diluted net income per ordinary share, Class B
|
| | | $ | 1.68 | | |
| | | | | | | | | | | | | | |
Ordinary Shares
|
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Shareholders’ Equity |
| ||||||||||||||||||||||||||||||
| | |
Preference shares
|
| |
Class A
|
| |
Class B
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| |
Shares
|
| |
Amount
|
| |
Shares
|
| |
Amount
|
| ||||||||||||||||||||||||||||||||||||
Balance – December 31,
2020 |
| | | | — | | | | | $ | — | | | | | | 6,049,865 | | | | | $ | 605 | | | | | | 8,625,000 | | | | | $ | 863 | | | | | $ | 20,885,583 | | | | | $ | (15,887,048) | | | | | $ | 5,000,003 | | |
Class A ordinary shares
subject to possible redemption |
| | | | — | | | | | | — | | | | | | (1,441,545) | | | | | | (144.00) | | | | | | — | | | | | | — | | | | | | (14,487,382) | | | | | | — | | | | | | (14,487,526) | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,487,526 | | | | | | 14,487,526 | | |
Balance – March 31, 2021
|
| | | | — | | | | | $ | — | | | | | | 4,608,320 | | | | | $ | 461 | | | | | | 8,625,000 | | | | | $ | 863 | | | | | $ | 6,398,201 | | | | | $ | (1,399,522) | | | | | $ | 5,000,003 | | |
| Cash Flows from Operating Activities: | | | | | | | |
|
Net income
|
| | | $ | 14,487,526 | | |
| Adjustments to reconcile net income to net cash used in operating activities: | | | | | | | |
|
Change in the fair value of derivative warrant liabilities
|
| | | | (14,689,380) | | |
|
Investment income from the Trust Account
|
| | | | (5,122) | | |
| Changes in operating assets and liabilities: | | | | | | | |
|
Prepaid expenses
|
| | | | (981) | | |
|
Accounts payable
|
| | | | 8,382 | | |
|
Accrued expenses
|
| | | | 55,000 | | |
|
Net cash used in operating activities
|
| | | | (144,575) | | |
|
Net change in cash
|
| | | | (144,575) | | |
|
Cash – beginning of the period
|
| | |
|
974,815
|
| |
|
Cash – end of the period
|
| | | $ | 830,240 | | |
| Supplemental disclosure of noncash investing and financing activities: | | | | | | | |
|
Change in initial value of Class A ordinary shares subject to possible redemption
|
| | | $ | 14,487,526 | | |
December 31, 2020
|
| | | | | | | | | | | | | | | | | | |
Description
|
| |
Quoted Prices in Active
Markets (Level 1) |
| |
Significant Other
Observable Inputs (Level 2) |
| |
Significant Other
Unobservable Inputs (Level 3) |
| |||||||||
Assets: | | | | | | | | | | | | | | | | | | | |
Investments held in Trust Account
|
| | | $ | 346,736,767 | | | | | $ | — | | | | | $ | — | | |
Liabilities: | | | | | | | | | | | | | | | | | | | |
Derivative warrant liabilities – Public
Warrants |
| | | $ | 32,775,000 | | | | | $ | — | | | | | $ | — | | |
Derivative warrant liabilities – Private
Warrants |
| | | $ | — | | | | | $ | — | | | | | $ | 1,306,880 | | |
| | |
March 31, 2021
|
| |
December 31, 2020
|
| ||||||
Volatility
|
| | | | 23.0% | | | | | | 23-29% | | |
Share price
|
| | | $ | 9.89 | | | | | $ | 10.41 | | |
Risk-free rate
|
| | | | 1.04% | | | | | | 0.43% | | |
Dividend yield
|
| | | | 0.0% | | | | | | 0.0% | | |
Expected life (years)
|
| | | | 5.5 | | | | | | 5.5 | | |
|
Warrant liabilities – Level 3, December 31, 2020
|
| | | $ | 1,306,880 | | |
|
Change in fair value of warrant liabilities – Level 3
|
| | | | (371,880) | | |
|
Warrant liabilities – Level 3, March 31, 2021
|
| | | $ | 935,000 | | |
Exhibit
Number |
| |
Description
|
|
31.1
|
| | Certification of Chief Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
31.2
|
| | Certification of Chief Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
32.1*
|
| | | |
32.2*
|
| | | |
101.INS
|
| | XBRL Instance Document | |
101.SCH
|
| | XBRL Taxonomy Extension Schema Document | |
101.CAL
|
| | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF
|
| | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB
|
| | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE
|
| | XBRL Taxonomy Extension Presentation Linkbase Document | |
| | | |
BURGUNDY TECHNOLOGY
ACQUISITION CORPORATION |
| |||
| | | |
By:
Name: Title: |
| |
/s/ Leo Apotheker
Leo Apotheker
Co-Chief Executive Officer (Principal Executive Officer) |
|
| | | |
BURGUNDY TECHNOLOGY
ACQUISITION CORPORATION |
| |||
| | | |
By:
Name: Title: |
| |
/s/ James Scott Mackey
James Scott Mackey
Chief Financial Officer (Principal Financial and Accounting Officer) |
|
1 Year Burgundy Technology Acqu... Chart |
1 Month Burgundy Technology Acqu... Chart |
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