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 |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
Title of each class |
Trading Symbol |
Name of each exchange on which registered | ||
t |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
☒ | Smaller reporting company | |||||
Emerging growth company |
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2 |
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11 |
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12 |
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13 |
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13 |
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13 |
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13 |
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13 |
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13 |
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14 |
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15 |
ASSETS |
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Current assets |
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Cash |
$ | |||
Prepaid expenses |
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Total Current Assets |
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Deferred offering costs |
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TOTAL ASSETS |
$ |
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LIABILITIES AND SHAREHOLDER’S EQUITY |
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Current liabilities |
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Accrued expenses |
$ | |||
Accrued offering costs |
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Advance from related party |
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Promissory note – related party |
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Total Current Liabilities |
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Commitments and Contingencies (Note 6) |
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Shareholder’s Equity |
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Preference shares, $ |
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Class A ordinary shares, $ |
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Class B ordinary shares, $ (1) |
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Additional paid-in capital |
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Accumulated deficit |
( |
) | ||
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Total Shareholder’s Equity |
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TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY |
$ |
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(1) | Includes Class B ordinary shares subject to forfeiture if the underwriters do not exercise their over-allotment option (see Note 5). |
Three Months Ended June 30, |
For the Period from February 25, 2021 (Inception) Through June 30, |
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2021 |
2021 |
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Operating and formation costs |
$ | $ | ||||||
Loss from operations |
( |
) |
( |
) | ||||
Net loss |
$ |
( |
) |
$ |
( |
) | ||
Weighted average shares outstanding, basic and diluted (1) |
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Basic and diluted net loss per ordinary share |
$ |
( |
) |
$ |
( |
) | ||
(1) | Excludes an aggregate of Class B ordinary shares subject to forfeiture if the underwriters do not exercise their over-allotment option (see Note 5). |
Class B Ordinary Shares |
Additional Paid-in |
Accumulated |
Total Shareholder’s |
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Shares |
Amount |
Capital |
Deficit |
Equity |
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Balance — February 25, 2021 (Inception) |
$ |
$ |
$ |
$ |
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Issuance of Class B ordinary shares to Sponsor (1) |
— | |||||||||||||||||||
Net loss |
— | — | — | ( |
) | ( |
) | |||||||||||||
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Balance – March 31, 2021 |
$ |
$ |
$ |
( |
) |
$ |
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Net loss |
— | — | — | ( |
) | ( |
) | |||||||||||||
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Balance – June 30, 2021 |
$ |
$ |
$ |
( |
) |
$ |
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(1) | Includes Class B ordinary shares subject to forfeiture if the underwriters do not exercise their over-allotment option (see Note 5). |
Cash Flows from Operating Activities: |
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Net loss |
$ | ( |
) | |
Adjustments to reconcile net loss to net cash used in operating activities: |
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Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares |
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Changes in operating assets and liabilities: |
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Prepaid expenses |
( |
) | ||
Accrued expenses |
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Net cash used in operating activities |
( |
) | ||
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Cash Flows from Financing Activities |
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Advance from related party |
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Proceeds from promissory note – related party |
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Payment of offering costs |
( |
) | ||
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Net cash provided by financing activities |
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Net Change in Cash |
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Cash – Beginning of period (inception) |
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Cash – End of period |
$ |
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Non-Cash financing activities: |
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Deferred offering costs included in accrued offering costs |
$ | |||
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Deferred offering costs paid directly by Sponsor in exchange for the issuance of Class B ordinary shares |
$ | |||
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* | Filed herewith. |
(1) | Previously filed as an exhibit to our Current Report on Form 8-K filed on July 2, 2021 and incorporated by reference herein. |
SOCIAL CAPITAL SUVRETTA HOLDINGS CORP. II | ||||||
Date: August 16, 2021 | By: | /s/ Chamath Palihapitiya | ||||
Name: | Chamath Palihapitiya | |||||
Title: | Chairman and Chief Executive Officer | |||||
(Principal Executive Officer) | ||||||
Date: August 16, 2021 | By: | /s/ James Ryans | ||||
Name: | James Ryans | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial and Accounting Officer) |