EX-99.1 2 ex991.htm EXHBIT 99.1

Exhibit 99.1

 

MANA CAPITAL ACQUISITION CORP.

BALANCE SHEET

 

              
    Actual as of November 26, 2021    Pro Forma Adjustments    As Adjusted 
         (Unaudited)    (Unaudited) 
                
ASSETS               
Current Assets               
  Cash  $887,872   $(60,000)  $827,872 
  Prepaid Expenses - short term   199,725    —      199,725 
  Total Current Assets   1,087,597    (60,000)   1,027,597 
  Prepaid Expenses - long term   89,755    —      89,755 
  Cash Held in Trust   62,000,000    3,000,000    65,000,000 
Total Assets  $63,177,352   $2,940,000   $66,117,352 
LIABILITIES AND STOCKHOLDERS' EQUITY               
Current Liabilities                
  Accrued offering costs  $20,600   $—     $20,600 
  Accrued expenses   280,649    —      280,649 
Total Current Liabilities   301,249    —      301,249 
Commitments and contingencies               
Common stock subject to possible redemption; 6,200,000 shares at redemption value ($10.00 per share)   62,000,000    3,000,000    65,000,000 
Stockholders' Equity               
Preferred stock, $0.00001 par value; 100,000,000 shares authorized; none issued and outstanding   —      —      —   
Common stock, $0.00001 par value; 300,000,000 shares authorized; 1,550,000 and 1,625,000 issued and outstanding as of November 26, 2021 (excludes 6,200,000 and 6,500,000 shares subject to possible redemption)   16    —      16 
Additional paid-in capital   887,552    (60,000)   827,552 
Accumulated deficit   (11,465)   —      (11,465)
Total Stockholders' Equity   876,103    (60,000)   816,103 
Total Liabilities and Stockholders' Equity  $63,177,352   $2,940,000   $66,117,352 

 

 

 

 

 
 

 

Mana Capital Acquisition Corp.

Note to Pro Forma Financial Statement

(unaudited)

NOTE 1 - CLOSING OF OVERALLOTMENT OPTION

The accompanying unaudited Pro Forma Financial Statement presents the Balance Sheet of Mana Capital Acquisition Corp. (the “Company”) as of November 26, 2021, adjusted for the closing of the underwriters’ overallotment option and related transactions which occurred on November 30, 2021 as described below.

In connection with the Initial Public Offering, the underwriters were granted a 45-day option from the date of the prospectus (the “Over-Allotment Option”) to purchase up to 930,000 additional units to cover over-allotments (the “Option Units”), if any. On November 30, 2021, the underwriters purchased an additional 300,000 Option Units pursuant to the partial exercise of the Over-Allotment Option. The Option Units were sold at an offering price of $10.00 per Unit, generating additional gross proceeds to the Company of $3,000,000. Pursuant to the Second Amended and Restated Subscription Agreement between the Sponsor and the Company, the Company issued the Sponsor a total of 75,000 shares of Common Stock in connection with the partial exercise by the underwriters of the Over-Allotment Option.

Pro forma adjustments to reflect the exercise of the underwriters’ overallotment option are as follows:

   
  Pro forma entry                
    Cash held in Trust     3,000,000          
    Common stock subject to possible redemption             3,000,000  
                     
    To record sale of 300,000 overallotment Units at $10.00 per Unit.                
       
    Additional paid-in capital     60,000          
    Cash             60,000  
                      
    To record payment of cash underwriting fee on overallotment options.