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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Berenson Acquisition Corp I | NYSE:BACA | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.15 | 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 |
87-1070217 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) | |
667 Madison Avenue, 18 th FloorNew York, New York |
10065 | |
(Address of principal executive offices) |
(Zip Code) |
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, par value $0.0001 per share and one-half of one Warrant |
BACA.U |
The New York Stock Exchange | ||
Class A Common Stock, par value $0.0001 per share |
BACA |
The New York Stock Exchange | ||
Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 |
BACA WS |
The New York Stock Exchange |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer |
☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
Three Months Ended June 30, 2022 |
Six Months Ended June 30, 2022 |
For the Period from June 1, 2021 (Inception) through June 30, 2021 |
||||||||||
General and administrative expenses |
$ | 421,131 | $ | 802,010 | $ | 2,700 | ||||||
Franchise tax expenses |
50,000 | 100,000 | — | |||||||||
Loss from operations |
471,131 | 902,010 | 2,700 | |||||||||
Other income |
||||||||||||
Interest income |
375,374 | 397,826 | — | |||||||||
Change in fair value of derivative warrant liabilities |
2,763,410 | 7,302,400 | — | |||||||||
Total other income |
3,138,784 | 7,700,226 | — | |||||||||
Net income (loss) allocable to common stockholders |
$ | 2,667,653 | $ | 6,798,216 | $ | (2,700 | ) | |||||
Weighted average shares outstanding, redeemable Class A common stock |
27,510,000 | 27,510,000 | — | |||||||||
Basic and diluted net income per share, redeemable Class A common stock |
$ | 0.08 | $ | 0.20 | $ | 0.00 | ||||||
Weighted average shares outstanding, non-redeemable common stock |
6,877,500 | 6,877,500 | 6,250,000 | |||||||||
Basic and diluted net income per share, non-redeemable common stock |
$ | 0.08 | $ | 0.20 | $ | 0.00 | ||||||
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 |
||||||||||||||||||||||||||||
Stockholders’ (Deficit) Equity |
||||||||||||||||||||||||||||
Class A Common Stock Subject To Possible Redemption |
Class B Common Stock |
|||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
Additional Paid-In Capital |
Accumulated Deficit |
Total Stockholders’ (Deficit) Equity |
||||||||||||||||||||||
Balance – January 1, 2022 |
27,510,000 | $ | 275,100,000 | 6,877,500 | $ | 688 | — | $ | (18,776,658 | ) | $ | (18,775,970 | ) | |||||||||||||||
Net income |
— | — | — | — | — | 4,130,563 | 4,130,563 | |||||||||||||||||||||
Balance – March 31, 2022 |
27,510,000 | 75,100,000 | 6,877,500 | 688 | — | (14,646,095 | ) | (14,645,407 | ) | |||||||||||||||||||
Net income |
— | — | — | — | — | 2,667,653 | 2,667,653 | |||||||||||||||||||||
Balance June 30, 2022 |
27,510,000 |
$ |
275,100,000 |
6,877,500 |
$ |
688 |
— | $ |
(11,978,442 |
) |
$ |
(11,977,754 |
) | |||||||||||||||
(1) |
This number included an aggregate of up to 937,500 shares of Class B common stock that were subject to forfeiture if the underwriters’ over-allotment option was not exercised in full or in part. Following the expiration of the underwriters’ over-allotment option, on November 12, 2021, the Sponsor forfeited 310,000 shares of Class B common stock. |
Level 1— | Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used. | |
Level 2— | Pricing inputs are other than quoted prices included within Level 1 that are observable for the investment, either directly or indirectly. Level 2 pricing inputs include quoted prices for similar investments in active markets, quoted prices for identical or similar investments in markets that are not active, inputs other than quoted prices that are observable for the investment, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |
Level 3— | Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. The inputs used in determination of fair value require significant judgment and estimation. |
Three Months Ended June 30, 2022 |
Six Months Ended June 30, 2022 |
|||||||
Class A Common Stock |
||||||||
Numerator: Earnings allocable to Redeemable Class A common stock |
||||||||
Net income allocable to Class A common stock subject to possible redemption |
$ | 2,134,122 | $ | 5,438,573 | ||||
Denominator: Weighted Average Class A common stock |
||||||||
Basic and diluted weighted average shares outstanding |
27,510,000 | 27,510,000 | ||||||
|
|
|
|
|||||
Basic and diluted net income per share |
$ | .08 | $ | 0.20 | ||||
|
|
|
|
|||||
Class B Common Stock |
||||||||
Numerator: Earnings allocable to Class B common stock |
||||||||
Net income allocable to Class B common stock |
$ | 533,531 | $ | 1,359,643 | ||||
Denominator: Weighted Average Class B common stock |
||||||||
Basic and diluted weighted average shares outstanding |
6,877,500 | 6,877,500 | ||||||
|
|
|
|
|||||
Basic and diluted net income per share |
.08 | $ | 0.20 | |||||
|
|
|
|
As of June 30, 2022 |
||||||||||||||||
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Assets: |
||||||||||||||||
U.S. Treasury Securities held in Trust Account |
$ | 275,502,795 | $ | — | $ | — | $ | 275,502,795 | ||||||||
Total: |
$ |
275,502,795 |
$ |
— |
$ |
— |
$ |
275,502,795 |
||||||||
As of December 31, 2021 |
||||||||||||||||
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Assets: |
||||||||||||||||
U.S. Treasury Securities held in Trust Account |
$ | 275,105,128 | $ | — | $ | — | $ | 275,105,128 | ||||||||
Total: |
$ |
275,105,128 |
$ |
— |
$ |
— |
$ |
275,105,128 |
||||||||
As of June 30, 2022 |
||||||||||||||||
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Liabilities: |
||||||||||||||||
Public Warrants |
$ | 1,925,700 | $ | — | $ | — | $ | 1,925,700 | ||||||||
Private Placement Warrants |
— | 1,050,280 |
— | 1,050,280 | ||||||||||||
Total |
$ |
1,925,700 |
$ |
1,050,280 |
$ |
— |
$ |
2,975,980 |
||||||||
As of December 31, 2021 |
||||||||||||||||
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Liabilities: |
||||||||||||||||
Public Warrants |
$ | 6,602,400 | $ | — | $ | — | $ | 6,602,400 | ||||||||
Private Placement Warrants |
— | — | 3,675,980 | 3,675,980 | ||||||||||||
Total |
$ |
6,602,400 |
$ |
— |
$ |
3,675,980 |
$ |
10,278,380 |
||||||||
Private Placement Warrant liabilities at January 1, 2022 |
$ | 3,675,980 | ||
Transfer of Private Placement Warrants From Level 3 to Level 2 |
(2,025,540 | ) | ||
Change in fair value of Private Placement Warrant liabilities |
(1,650,440 | ) | ||
Private Placement Warrant liabilities |
$ | — | ||
* | Filed herewith. |
** | Furnished herewith. |
(1) | Previously filed as an exhibit to the Registrant’s Current Report on Form 8-K filed with the SEC on October 1, 2021 and incorporated by reference herein. |
(2) | Previously filed as an exhibit to the Registrant’s Registration Statement on Form S-1 filed with the SEC on September 10, 2021 and incorporated by reference herein. |
BERENSON ACQUISITION CORP. I | ||||||
Date: August 3, 2022 | By: | /s/ Mohammed Ansari | ||||
Name: | Mohammed Ansari | |||||
Title: | Chief Executive Officer | |||||
Date: August 3, 2022 | By: | /s/ Amir Hegazy | ||||
Name: | Amir Hegazy | |||||
Title: | Chief Financial Officer |
1 Year Berenson Acquisition Cor... Chart |
1 Month Berenson Acquisition Cor... Chart |
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