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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Jiya Acquisition Corporation | NASDAQ:JYAC | 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 | 16.06 | 0 | 01:00:00 |
Delaware
|
85-2789517
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which
registered
|
||
Shares of Class A common stock, par value $0.0001
|
JYAC
|
The Nasdaq Stock Market LLC
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☐ | |
Non-accelerated filer
|
☒ |
Smaller reporting company
|
☒ |
|
Emerging growth company
|
☒ |
Page
|
||
1
|
||
1
|
||
1
|
||
2
|
||
3
|
||
4
|
||
5
|
||
18
|
||
22
|
||
22
|
||
23
|
||
23
|
||
23
|
||
23
|
||
23
|
||
23
|
||
23
|
||
23
|
||
24
|
September 30,
2022
|
December 31,
2021
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Current assets
|
||||||||
Cash
|
$
|
102,452
|
$
|
628,006
|
||||
Prepaid expenses
|
60,292
|
256,768
|
||||||
Total Current Assets
|
162,744
|
884,774
|
||||||
Marketable securities held in Trust Account
|
104,160,759
|
103,542,974
|
||||||
TOTAL ASSETS
|
$
|
104,323,503
|
$
|
104,427,748
|
||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT
|
||||||||
Current liabilities
|
||||||||
Accrued expenses
|
$
|
659,891
|
$
|
342,002
|
||||
Income taxes payable
|
74,134 | — | ||||||
Promissory note – related party
|
250,000 | — | ||||||
Total Current Liabilities
|
984,025
|
342,002
|
||||||
Deferred underwriting payable
|
3,623,214 |
3,623,214
|
||||||
Total Liabilities
|
4,607,239
|
3,965,216
|
||||||
Commitments
|
||||||||
Class A common stock subject to possible redemption, 10,352,040 shares
at redemption value of $10.02 and $10.00 at September 30, 2022 and December 31, 2021,respectively
|
103,734,897
|
103,520,402
|
||||||
Stockholders’ Deficit
|
||||||||
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none
issued or outstanding
|
—
|
—
|
||||||
Class A common stock, $0.0001 par value; 100,000,000 shares authorized; 507,041
shares issued and outstanding at September 30, 2022 and December 31, 2021
|
51
|
51
|
||||||
Class B common stock, $0.0001 par value; 10,000,000 shares authorized; 2,588,010
shares issued and outstanding at September 30, 2022 and December 31, 2021
|
259
|
259
|
||||||
Additional paid-in capital
|
336,917
|
202,500
|
||||||
Accumulated deficit
|
(4,355,860
|
)
|
(3,260,680
|
)
|
||||
Total Stockholders’ Deficit
|
(4,018,633
|
)
|
(3,057,870
|
)
|
||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT
|
$
|
104,323,503
|
$
|
104,427,748
|
For the Three Months Ended September 30, |
For the Nine Months Ended
September 30, |
|||||||||||||||
2022 |
2021 | 2022 |
2021 | |||||||||||||
General and administrative expenses |
$ | 536,676 | $ | 371,708 | $ | 1,289,919 | $ | 1,198,568 | ||||||||
Stock-based compensation expenses
|
44,417 |
45,000
|
134,417 | 135,000 | ||||||||||||
Loss from operations
|
(581,093 | ) |
(416,708
|
)
|
(1,424,336 | ) | (1,333,568 | ) | ||||||||
Other income:
|
||||||||||||||||
Interest earned on marketable securities held in Trust Account
|
467,351 |
3,221
|
617,785 | 13,714 | ||||||||||||
Unrealized loss on marketable securities held in Trust Account
|
— |
2,516
|
— | (1,225 | ) | |||||||||||
Total Other income, net
|
467,351 |
5,737
|
617,785 | 12,489 | ||||||||||||
Loss before provision for income taxes |
(113,742 | ) | (410,971 | ) | (806,551 | ) | (1,321,079 | ) | ||||||||
Provision for income taxes |
(72,077 | ) | — | (74,134 | ) |
—
|
||||||||||
Net loss
|
$ | (185,819 | ) |
$
|
(410,971
|
)
|
$ | (880,685 | ) | $ | (1,321,079 | ) | ||||
Basic and diluted weighted average shares outstanding, Class A common stock
|
10,859,081 | 10,859,081 |
10,859,081 | 10,859,081 | ||||||||||||
Basic and diluted net loss per share, Class A common stock
|
$ | (0.01 | ) | $ | (0.03 | ) | $ | (0.07 | ) | $ | (0.10 | ) | ||||
Basic and diluted weighted average shares outstanding, Class B common stock
|
2,588,010 | 2,588,010 |
2,588,010 | 2,588,010 | ||||||||||||
Basic and diluted net loss per share, Class B common stock
|
$ | (0.01 | ) | $ | (0.03 | ) | $ | (0.07 | ) | $ | (0.10 | ) |
Class A
Common Stock
|
Class B
Common Stock
|
Additional
Paid-in
|
Accumulated
|
Total
Stockholders’
|
||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Deficit
|
||||||||||||||||||||||
Balance — January 1, 2022
|
507,041
|
$
|
51
|
2,588,010
|
$
|
259
|
$
|
202,500
|
$
|
(3,260,680
|
)
|
$
|
(3,057,870
|
)
|
||||||||||||||
Stock-based compensation expense
|
—
|
—
|
—
|
—
|
45,000
|
—
|
45,000
|
|||||||||||||||||||||
Net loss
|
—
|
—
|
—
|
—
|
—
|
(413,229
|
)
|
(413,229
|
)
|
|||||||||||||||||||
Balance – March 31, 2022
|
507,041
|
$
|
51
|
2,588,010
|
$
|
259
|
$
|
247,500
|
$
|
(3,673,909
|
)
|
$
|
(3,426,099
|
)
|
||||||||||||||
Stock-based compensation expense
|
— | — | — | — | 45,000 | — | 45,000 | |||||||||||||||||||||
Net loss
|
— | — | — | — | — | (281,637 | ) | (281,637 | ) | |||||||||||||||||||
Balance – June 30, 2022
|
507,041 | $ | 51 | 2,588,010 | $ | 259 | $ | 292,500 | $ | (3,955,546 | ) | $ | (3,662,736 | ) | ||||||||||||||
Accretion for Class A common stock to redemption amount
|
— | — | — | — | — | (214,495 | ) | (214,495 | ) | |||||||||||||||||||
Stock-based compensation expense
|
— | — | — | — | 44,417 | — | 44,417 | |||||||||||||||||||||
Net loss
|
— | — | — | — | — | (185,819 | ) | (185,819 | ) | |||||||||||||||||||
Balance – September 30, 2022
|
507,041 | $ | 51 | 2,588,010 | $ | 259 | $ | 336,917 | $ | (4,355,860 | ) | $ | (4,018,633 | ) |
Class A Common Stock
|
Class B Common Stock
|
Additional
Paid-in
|
Accumulated
|
Total
Stockholders’
|
||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Deficit
|
||||||||||||||||||||||
Balance — January 1, 2021
|
507,041 | $ | 51 | 2,588,010 | $ | 259 | $ | 22,500 | $ | (1,337,642 | ) | $ | (1,314,832 | ) | ||||||||||||||
Stock-based compensation expense
|
— | — | — | — | 45,000 | — | 45,000 | |||||||||||||||||||||
Net loss
|
—
|
—
|
—
|
—
|
—
|
(458,783
|
)
|
(458,783
|
)
|
|||||||||||||||||||
Balance – March 31, 2021
|
507,041
|
$
|
51
|
2,588,010
|
$
|
259
|
$
|
67,500
|
$
|
(1,796,425
|
)
|
$
|
(1,728,615
|
)
|
||||||||||||||
Stock-based compensation expense
|
— | — | — | — | 45,000 | — | 45,000 | |||||||||||||||||||||
Net loss
|
— | — | — | — | — | (451,325 | ) | (451,325 | ) | |||||||||||||||||||
Balance – June 30, 2021
|
507,041 | $ | 51 | 2,588,010 | $ | 259 | $ | 112,500 | $ | (2,247,750 | ) | $ | (2,134,940 | ) | ||||||||||||||
Stock-based compensation expense
|
— | — | — | — | 45,000 | — | 45,000 | |||||||||||||||||||||
Net loss
|
— | — | — | — | — | (410,971 | ) | (410,971 | ) | |||||||||||||||||||
Balance – September 30, 2021
|
507,041 | $ | 51 | 2,588,010 | $ | 259 | $ | 157,500 | $ | (2,658,721 | ) | $ | (2,500,911 | ) |
For the Nine Months Ended September 30,
|
||||||||
2022 |
2021 |
|||||||
Cash Flows from Operating Activities:
|
||||||||
Net loss
|
$ | (880,685 | ) | $ | (1,321,079 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Stock-based compensation expense
|
134,417
|
135,000 | ||||||
Interest earned on marketable securities held in Trust Account
|
(617,785
|
)
|
(13,714 | ) | ||||
Unrealized loss on marketable securities held in Trust Account
|
—
|
1,225 | ||||||
Changes in operating assets and liabilities:
|
||||||||
Prepaid expenses
|
196,476
|
188,650 | ||||||
Accounts payable and accrued expenses
|
317,889
|
181,102 | ||||||
Income taxes payable
|
74,134 | — | ||||||
Net cash used in operating activities
|
(775,554
|
)
|
(828,816 | ) | ||||
Cash Flows from Financing Activities:
|
||||||||
Repayment of funds to sponsor | — | (2,305 | ) | |||||
Funds sent to SPAC instead of Sponsor |
— |
174 |
||||||
Proceeds from promissory note – related party
|
250,000 | — | ||||||
Repayment of promissory note – related party | — | (348 | ) | |||||
Payment of offering costs
|
—
|
(50,832 | ) | |||||
Net cash provided by (used in) financing activities
|
250,000
|
(53,311 | ) | |||||
Net Change in Cash
|
(525,554 | ) | (882,127 | ) | ||||
Cash – Beginning of period
|
628,006
|
1,889,565 | ||||||
Cash – End of period
|
$
|
102,452
|
$ | 1,007,438 | ||||
Supplemental Disclosure: |
||||||||
Taxes paid for Delaware Franchise Tax |
$ | — | $ | 24,366 | ||||
Accretion for Class A Common Stock to redemption amount |
$ | 214,495 | $ | — |
Gross proceeds
|
$
|
103,520,402
|
||
Less:
|
||||
Class A common stock issuance costs
|
(6,168,023
|
)
|
||
Plus:
|
||||
Accretion of carrying value to redemption value
|
6,168,023
|
|||
Class A common stock subject to possible redemption, December 31, 2021
|
103,520,402
|
|||
Plus:
|
||||
Accretion of carrying value to redemption value
|
214,495 | |||
Class A common stock subject to possible redemption, September 30, 2022 | $ | 103,734,897 |
Three Months Ended
September 30, 2022
|
Three Months Ended
September 30, 2021
|
Nine Months Ended
September 30, 2022
|
Nine Months Ended
September 30, 2021
|
|||||||||||||||||||||||||||||
Class A | Class B | Class A | Class B |
Class A
|
Class B
|
Class A
|
Class B
|
|||||||||||||||||||||||||
Basic and diluted net loss per common stock
|
||||||||||||||||||||||||||||||||
Numerator:
|
||||||||||||||||||||||||||||||||
Allocation of
net loss, as adjusted
|
$ | (150,057 | ) | $ | (35,762 | ) | $ | (331,876 | ) | $ | (79,095 | ) |
$
|
(711,189
|
)
|
$
|
(169,496
|
)
|
$
|
(1,066,826
|
)
|
$
|
(254,253
|
)
|
||||||||
Denominator:
|
||||||||||||||||||||||||||||||||
Basic and
diluted weighted average common stock outstanding
|
10,859,081 | 2,588,010 | 10,859,081 | 2,588,010 |
10,859,081
|
2,588,010
|
10,859,081
|
2,588,010
|
||||||||||||||||||||||||
Basic and diluted net loss per common stock
|
$ | (0.01 | ) | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.03 | ) |
$
|
(0.07
|
)
|
$
|
(0.07
|
)
|
$
|
(0.10
|
)
|
$
|
(0.10
|
)
|
Number of
Shares
|
||||
Unvested Shares Outstanding at August 27, 2020 (inception)
|
—
|
|||
Granted
|
248,000
|
|||
Forfeited
|
(29,667
|
)
|
||
Vested
|
(110,000
|
)
|
||
Unvested Outstanding at September 30, 2022
|
108,333
|
|
Level 1:
|
Quoted prices in active
markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an
ongoing basis.
|
|
Level 2:
|
Observable inputs other
than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.
|
Level 3:
|
Unobservable inputs based
on our assessment of the assumptions that market participants would use in pricing the asset or liability.
|
Description
|
Level
|
September 30,
2022
|
December 31,
2021
|
|||||||||
Assets:
|
||||||||||||
Marketable securities held in Trust Account
|
1
|
$
|
104,160,759
|
$
|
103,542,974
|
*
|
Filed herewith.
|
JIYA ACQUISITION CORP.
|
||
Date: November 22, 2022
|
By:
|
/s/ Rekha Hemrajani
|
Name:
|
Rekha Hemrajani
|
|
Title:
|
Chief Executive Officer
|
1 Year Jiya Acquisition Chart |
1 Month Jiya Acquisition Chart |
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