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Share Name | Share Symbol | Market | Type |
---|---|---|---|
OPY Acquisition Coporation I | NASDAQ:OHAA | 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% | 10.49 | 10.32 | 10.60 | 0 | 01:00:00 |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware |
85-2624164 | |
(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 | ||
Units, each consisting of one share of Class A Common Stock and one-half of one Redeemable Warrant |
OHAAU |
The Nasdaq Stock Market LLC | ||
Class A Common Stock, par value $0.0001 per share |
OHAA |
The Nasdaq Stock Market LLC | ||
Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 |
OHAAW |
The Nasdaq Stock Market LLC |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
For the Three Months Ended September 30, |
For the Nine Months Ended September 30, |
|||||||||||||||
2022 |
2021 |
2022 |
2021 |
|||||||||||||
OPERATING EXPENSES |
||||||||||||||||
General and administrative |
$ | 217,576 | $ |
47,744 | $ |
765,788 | $ |
57,362 | ||||||||
Franchise tax |
50,000 | — | 152,187 | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total operating expenses |
(267,576 |
) |
(47,744 |
) |
(917,975 |
) |
(57,362 |
) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
OTHER INCOME (LOSS) |
||||||||||||||||
Interest income on investments held in Trust Account |
621,047 | — | 794,715 | 6 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total other income (loss) |
621,047 |
— |
794,715 |
6 | ||||||||||||
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES |
353,471 | (47,744 | ) |
(123,260 | ) |
(57,356 | ) | |||||||||
Provision for income taxes |
(195,049 | ) |
— | (209,462 | ) |
— | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET INCOME (LOSS) |
$ |
158,422 |
$ |
(47,744 |
) |
$ |
(332,722 |
) |
$ |
(57,356 |
) | |||||
|
|
|
|
|
|
|
|
|||||||||
Weighted average shares outstanding of Class A common stock |
12,650,000 | — | 12,650,000 | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Basic and diluted net loss per share, Class A |
$ | 0.01 | — | $ |
(0.02 | ) |
— | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Weighted average shares outstanding of common stock |
3,162,500 | 3,162,500 | 3,162,500 | 3,162,500 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Basic and diluted net loss per share, common stock |
$ | 0.01 | $ |
(0.02 | ) |
$ |
(0.02 | ) |
$ |
(0.02 | ) | |||||
|
|
|
|
|
|
|
|
Common stock |
||||||||||||||||||||||||||||
Class A |
Common stock |
|||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
Additional P aid-in C apital |
Accumulated D eficit |
Total S tockholders’E quity |
||||||||||||||||||||||
Balance, December 31, 2021 |
— | $ | — | 3,162,500 | $ | 316 | $ | 1,621,335 | $ | (348,103 | ) | $ | 1,273,548 | |||||||||||||||
Net loss |
— | — | — | — | — | (289,192 | ) | (289,192 | ) | |||||||||||||||||||
|
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|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance, March 31, 2022 (Unaudited) |
— | — | 3,162,500 | 316 | 1,621,335 | (637,295 | ) | 984,356 | ||||||||||||||||||||
Net loss |
— | — | — | — | — | (201,952 | ) | (201,952 | ) | |||||||||||||||||||
|
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|
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|
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|
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|
|||||||||||||||
Balance, June 30, 2022 (Unaudited) |
— | — | 3,162,500 | 316 | 1,621,335 | (839,247 | ) | 782,404 | ||||||||||||||||||||
Accretion of Class A common stock subject to possible redemption |
— | — | — | — | (404,994 | ) | — | (404,994 | ) | |||||||||||||||||||
Net income |
— | — | — | — | — | 158,422 | 158,422 | |||||||||||||||||||||
|
|
|
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|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance, September 30, 2022 (Unaudited) |
— | $ | — | 3,162,500 | $ | 316 | $ | 1,216,341 | $ | (680,825 | ) | $ | 535,832 | |||||||||||||||
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|
Common stock |
||||||||||||||||||||||||||||
Class A |
Common stock |
|||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
Additional P aid-in C apital |
Accumulated D eficit |
Total S tockholder’sE quity (D eficit) |
||||||||||||||||||||||
Balance, December 31, 2020 |
— |
$ |
— |
3,162,500 |
$ |
316 |
$ |
24,684 |
$ |
(1,000 |
) |
$ |
24,000 |
|||||||||||||||
Net income |
— |
— |
— |
— |
— |
3 |
3 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance, March 31, 2021 (Unaudited) |
— |
— |
3,162,500 |
316 |
24,684 |
(997 |
) |
24,003 |
||||||||||||||||||||
Net loss |
— |
— |
— |
— |
— |
(9,615 |
) |
(9,615 |
) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance, June 30, 2021 (Unaudited) |
— |
— |
3,162,500 |
316 |
24,684 |
(10,612 |
) |
14,388 |
||||||||||||||||||||
Net loss |
— |
— |
— |
— |
— |
(47,744 |
) |
(47,744 |
) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance, September 30, 2021 (Unaudited) |
— |
$ |
— |
3,162,500 |
$ |
316 |
$ |
24,684 |
$ |
(58,356 |
) |
$ |
(33,356 |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Nine Months Ended September 30, |
||||||||
2022 |
2021 |
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
Net loss |
$ | (332,722 | ) | $ | (57,356 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities: |
||||||||
Interest income on investments held in Trust Account |
(794,715 | ) | — | |||||
Changes in operating assets and liabilities: |
||||||||
Prepaid expenses and other assets |
276,899 | — | ||||||
Accounts payable and accrued expenses |
42,892 | 19,285 | ||||||
Franchise tax payable |
92,875 | — | ||||||
Due to affiliate |
(20,000 | ) | — | |||||
Income taxes payable |
209,462 | |||||||
|
|
|
|
|||||
Net cash used in operating activities |
(525,309 |
) |
(38,071 |
) | ||||
|
|
|
|
|||||
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
Cash withdrawn from Trust Account for tax purposes |
59,312 | — | ||||||
|
|
|
|
|||||
Net cash provided by investing activities |
59,312 |
— | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
Payment of Deferred Offering Costs |
— | (81,895 | ) | |||||
Proceeds from issuance of common stock to Sponsor |
— | — | ||||||
Proceeds from notes payable—related party |
— | 175,000 | ||||||
|
|
|
|
|||||
Net cash provided by financing activities |
— |
93,105 |
||||||
|
|
|
|
|||||
NET CHANGE IN CASH |
(465,997 |
) |
55,034 |
|||||
CASH, BEGINNING OF THE PERIOD |
670,998 | 25,000 | ||||||
|
|
|
|
|||||
CASH, END OF THE PERIOD |
$ |
205,001 |
$ |
80,034 |
||||
|
|
|
|
|||||
Supplemental disclosure of noncash activities: |
||||||||
Payment of deferred offering costs by notes payable—related party |
$ | — | $ | 27,295 | ||||
|
|
|
|
|||||
Deferred offering costs included in accrued offering costs |
$ | — | $ | 22,295 | ||||
|
|
|
|
|||||
Conversion of due to affiliate through issuance of Notes Payable |
$ | — | $ | 25,000 | ||||
|
|
|
|
Gross proceeds |
$ | 126,500,000 | ||
Less: |
||||
Proceeds allocated to Public Warrants |
(8,420,695 | ) | ||
Class A common stock issuance costs |
(245,233 | ) | ||
Plus: Accretion of carrying value to redemption value |
9,930,928 | |||
Class A common stock subject to possible redemption, December 31, 2021 |
127,765,000 | |||
Add: |
||||
Accretion of carrying value to redemption value |
404,994 | |||
Class A common stock subject to possible redemption, September 30, 2022 |
$ | 128,169,994 | ||
2022 |
2021 |
|||||||||||||||
Class A Common Stock |
Common stock |
Class A Common Stock |
Common Stock |
|||||||||||||
Basic and diluted net income (loss) per share: |
||||||||||||||||
Numerator: |
||||||||||||||||
Allocation of net income (loss) |
$ | 126,738 | $ | 31,684 | $ | — | $ | (47,744 | ) | |||||||
Denominator: |
||||||||||||||||
Weighted average shares outstanding |
12,650,000 | 3,162,500 | — | 3,162,500 | ||||||||||||
Basic and diluted net income (loss) per share |
$ | 0.01 | $ | 0.01 | $ | — | $ | (0.02 | ) |
2022 |
2021 |
|||||||||||||||
Class A Common Stock |
Common Stock |
Class A Common Stock |
Common Stock |
|||||||||||||
Basic and diluted net income (loss) per share: |
||||||||||||||||
Numerator: |
||||||||||||||||
Allocation of net income (loss) |
$ | (266,178 | ) | $ | (66,544 | ) | $ | — | $ | (57,356 | ) | |||||
Denominator: |
||||||||||||||||
Weighted average shares outstanding |
12,650,000 | 3,162,500 | — | 3,162,500 | ||||||||||||
Basic and diluted net income (loss) per share |
$ | (0.02 | ) | $ | (0.02 | ) | $ | — | $ | (0.02 | ) |
• | in whole and not in part. |
• | at a price of $0.01 per warrant. |
• | upon a minimum of 30-day prior written notice of redemption, which is referred to as the “30-day redemption period”; and |
• | if, and only if, the last reported sale price (the “closing price”) of common stock equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “Description of Securities—Warrants— Public Stockholders’ Warrants—Anti-Dilution Adjustments”) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends a notice of redemption to the warrant holders. |
Level |
Quoted Prices in Active Markets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Other Unobservable Inputs (Level 3) |
|||||||||||||
Assets: |
||||||||||||||||
U.S. Treasury Securities |
1 | $ | 128,507,233 | — | — |
Level |
Quoted Prices in Active Markets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Other Unobservable Inputs (Level 3) |
|||||||||||||
Assets: |
||||||||||||||||
U.S. Treasury Securities |
1 | $ | 127,771,830 | — | — |
* | Filed herewith. |
** | 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 |
OPY ACQUISITION CORP. I | ||||||
Date: November 8, 2022 | By: | /s/ Jonathan B. Siegel | ||||
Name: | Jonathan B. Siegel | |||||
Title: | Chief Executive Officer and Director (Principal Executive Officer) | |||||
Date: November 8, 2022 | By: | /s/ Daniel E. Geffken | ||||
Name: | Daniel E. Geffken | |||||
Title: | Chief Financial Officer and Director (Principal Financial and Accounting Officer) |
1 Year OPY Acquisition Coporati... Chart |
1 Month OPY Acquisition Coporati... Chart |
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