EX-99.1 2 tm2211708d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

INDEX TO UNAUDITED PRO FORMA FINANCIAL STATEMENT

 

Unaudited Pro Forma Balance Sheet as of February 17, 2022 F-2

 

F-1

 

 

A SPAC I ACQUISITION CORP.

PRO FORMA BALANCE SHEET

 

   February17,   Pro Forma
Adjustments		   As Adjusted 
   2022   (Unaudited)   (Unaudited) 
Assets               
  Cash  $1,025,000   $—   $1,025,000 
  Prepaid expense   281,405    —    281,405 
Total current assets   1,306,405    —    1,306,405 
                
Cash held in trust account   60,600,000    —    60,600,000 
                
                
Total Assets  $61,906,405   $—   $61,906,405 
                
Liabilities, Shares Subject to Redemption and Shareholders’ Deficit               
  Accrued offering costs and expenses  $278,113   $—   $278,113 
Due to related party   95,774    —    95,774 
Over-allotment option liability   62,985         62,985 
Promissory note - related party   400,000    —    400,000 
Total current liabilities   836,872    —    836,872 
                
  Deferred underwriting fee payable   2,100,000    —    2,100,000 
Total Liabilities   2,936,872    —    2,936,872 
                
Commitments and Contingencies               
                
Class A ordinary shares subject to possible redemption, 6,000,000 shares at accretion carrying value with redemption value of $10.10 per share   60,600,000    (11,235,653)   49,364,347 
Shareholders’ (Deficit) Equity               
Preference shares, no par value; 1,000,000 shares authorized; none issued and outstanding   —    —    — 
Class A ordinary shares, no par value; 100,000,000 shares authorized; 1,794,000 issued and outstanding (excluding 6,900,000 subject to possible redemption) (1)   —    —    — 
Class B ordinary shares, no par value; 100 shares authorized; one share issued and outstanding   —    —    — 
Additional paid-in capital   —    9,620,701    9,620,701 
Accumulated deficit   (1,630,467)   1,614,952    (15,515)
Total Shareholders' (Deficit) Equity   (1,630,467)   —    9,605,186 
Total Liabilities, Shares Subject to Redemption, and Shareholders’ (Deficit) Equity  $61,906,405   $—   $61,906,405 

 

  (1) Includes an aggregate of up to 225,000 Class A ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter.

 

  (2) Shares have been retroactively restated to reflect a share repurchase and subscription. On June 7, 2021, we issued 2,875,000 Class B ordinary shares to our sponsor for an aggregate purchase price of $25,000 or approximately $0.01 per share. On July 19, 2021, 2,874,999 Class B ordinary shares were repurchased and cancelled at an aggregate repurchase price of $25,000 or approximately $0.01 per share, resulting in one Class B ordinary share in issue after the repurchase. On the same day, we issued 2,300,000 Class A ordinary shares to our sponsor for an aggregate purchase price of $25,000, or approximately $0.01 per share.  Subsequently, on January 14, 2022, our sponsor surrendered for no consideration and we canceled 575,000 of such Class A ordinary shares, resulting in 1,725,000 Class A ordinary shares remaining outstanding.

 

F-2