|
|
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
|
10001
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which
registered
|
||
|
|
|
||
|
|
|
||
|
|
|
Large accelerated filer ☐
|
Accelerated filer ☐
|
|
Smaller reporting company
|
Emerging growth company
|
Page
|
||
PART 1 - FINANCIAL INFORMATION
|
||
Item 1.
|
CONDENSED FINANCIAL STATEMENTS
|
|
3
|
||
4
|
||
5
|
||
6
|
||
7
|
||
Item 2.
|
23
|
|
Item 3.
|
29
|
|
Item 4.
|
29
|
|
PART II - OTHER INFORMATION
|
||
Item 1.
|
30
|
|
Item 1A.
|
30
|
|
Item 2.
|
30
|
|
Item 3.
|
30
|
|
Item 4.
|
30
|
|
Item 5.
|
30
|
|
Item 6.
|
30
|
|
31
|
June 30, 2023
|
December 31, 2022
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash
|
$
|
|
$
|
|
||||
Prepaid expenses
|
|
|
||||||
Total current assets
|
|
|
||||||
Investments held in Trust Account
|
|
|
||||||
Total Assets
|
$
|
|
$
|
|
||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
|
$
|
|
||||
Accounts payable - related party
|
|
|
||||||
Accrued expenses and other current liabilities
|
|
|
||||||
Total current liabilities
|
|
|
||||||
Warrant liabilities
|
|
|
||||||
Deferred underwriting fee payable
|
|
|
||||||
Total Liabilities
|
|
|
||||||
Commitments (Note 6)
|
||||||||
Class A ordinary shares subject to possible redemption,
|
|
|
||||||
Shareholders’ Deficit
|
||||||||
Preference shares, $
|
|
|
||||||
Class A ordinary shares, $
|
|
|
||||||
Class B ordinary shares, $
|
|
|
||||||
Additional paid-in capital
|
|
|
||||||
Accumulated deficit
|
(
|
)
|
(
|
)
|
||||
Total Shareholders’ Deficit
|
(
|
)
|
(
|
)
|
||||
Total Liabilities and Shareholders’ Deficit
|
$
|
|
$
|
|
Three Months
Ended June 30,
2023
|
Three Months
Ended June 30,
2022
|
Six Months
Ended June 30,
2023
|
Six Months
Ended June 30,
2022
|
|||||||||||||
Operating and formation costs
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Loss from operations
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||||
Other income:
|
||||||||||||||||
Interest income on bank account
|
|
|
|
|
||||||||||||
Interest and dividend income on investments held in Trust Account
|
|
|
|
|
||||||||||||
Gain related to potential business combination
|
|
|
|
|
||||||||||||
Gain on change in fair value of warrant liabilities
|
|
|
|
|
||||||||||||
Net income
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Basic and diluted weighted average shares outstanding, Class A ordinary shares
|
|
|
|
|
||||||||||||
Basic and diluted net income per share, Class A ordinary shares
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Basic and diluted weighted average shares outstanding, Class B ordinary shares
|
|
|
|
|
||||||||||||
Basic and diluted net income per share, Class B ordinary shares
|
$
|
|
$
|
|
$
|
|
$
|
|
Class A Ordinary Shares
|
Class B Ordinary Shares
|
Additional
Paid-in
Capital
|
Accumulated
Deficit
|
Total
Shareholders’
Deficit
|
||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
|||||||||||||||||||||||||
Balance as of January 1, 2023
|
|
$
|
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
(
|
)
|
||||||||||||||
Remeasurement of Class A ordinary shares to redemption amount as of March 31, 2023
|
—
|
|
—
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Net income
|
—
|
—
|
—
|
—
|
—
|
|
|
|||||||||||||||||||||
Balance as of March 31, 2023
|
|
|
|
|
$
|
|
(
|
)
|
(
|
)
|
||||||||||||||||||
Remeasurement of Class A ordinary shares to redemption amount as of June 30, 2023
|
—
|
|
—
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Net income
|
—
|
—
|
—
|
—
|
—
|
|
|
|||||||||||||||||||||
Balance as of June 30, 2023
|
|
$
|
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
(
|
)
|
Class A Ordinary Shares
|
Class B Ordinary Shares
|
Additional
Paid-in Capital
|
Accumulated Deficit
|
Total
Shareholders’
Deficit
|
||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
|||||||||||||||||||||||||
Balance as of January 1, 2022
|
|
$
|
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
(
|
)
|
||||||||||||||
Remeasurement of Class A ordinary shares to redemption amount as of March 31, 2022
|
—
|
|
—
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Net income
|
—
|
—
|
—
|
—
|
—
|
|
|
|||||||||||||||||||||
Balance as of March 31, 2022
|
|
|
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Remeasurement of Class A ordinary shares to redemption amount as of June 30, 2022
|
—
|
|
—
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Net income
|
—
|
—
|
—
|
—
|
—
|
|
|
|||||||||||||||||||||
Balance as of June 30, 2022
|
|
$
|
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
(
|
)
|
Six Months
Ended June 30,
2023
|
Six Months
Ended June 30,
2022
|
|||||||
Cash Flows from Operating Activities:
|
||||||||
Net income
|
$
|
|
$
|
|
||||
Adjustments to reconcile net income to net cash used in operating activities:
|
||||||||
Interest and dividend income on investments held in Trust Account
|
(
|
)
|
(
|
)
|
||||
Gain on change in fair value of warrant liability
|
|
(
|
)
|
|||||
Changes in operating assets and liabilities:
|
||||||||
Prepaid expenses
|
|
|
||||||
Accounts payable
|
|
(
|
)
|
|||||
Accounts payable - related party
|
|
(
|
)
|
|||||
Accrued expenses and other current liabilities
|
(
|
)
|
|
|||||
Net cash used in operating activities
|
(
|
)
|
(
|
)
|
||||
Net Change in Cash
|
(
|
)
|
(
|
)
|
||||
Cash - Beginning of period
|
|
|
||||||
Cash - End of period
|
$
|
|
$
|
|
||||
Non-cash investing and financing activities
|
||||||||
Remeasurement of Class A ordinary shares subject to redemption to redemption value
|
$
|
|
$
|
|
|
|
|
|
|
Class A ordinary shares subject to possible redemption as of December 31, 2022
|
$
|
|
||
Remeasurement of carrying value to redemption value as of March 31, 2023
|
|
|||
Class A ordinary shares subject to possible redemption as of March 31, 2023
|
|
|||
Remeasurement of carrying value to redemption value as of June 30, 2023
|
|
|||
Class A ordinary shares subject to possible redemption as of June 30, 2023
|
$
|
|
|
|
Three Months Ended
June 30, 2023
|
Three Months
Ended June 30, 2022
|
Six Months Ended
June 30, 2023
|
Six Months Ended
June 30, 2022
|
|||||||||||||||||||||||||||||
Class A
|
Class B
|
Class A
|
Class B
|
Class A
|
Class B
|
Class A
|
Class B
|
|||||||||||||||||||||||||
Basic and diluted net income per share:
|
||||||||||||||||||||||||||||||||
Numerator:
|
||||||||||||||||||||||||||||||||
Net income
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||
Denominator:
|
||||||||||||||||||||||||||||||||
Basic and diluted weighted average shares outstanding
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Basic and diluted net income per share
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
|
|
|
|
• |
in whole and not in part;
|
• |
at a price of $
|
• |
upon not less than
|
• |
if, and only if, the last reported closing price of the Class A ordinary shares for any
|
• |
in whole and not in part;
|
• |
at $
|
• |
if, and only if, the Reference Value equals or exceeds $
|
|
|
|
Description
|
Amount at
Fair Value
|
Level 1
|
Level 2
|
Level 3
|
||||||||||||
June 30, 2023
|
||||||||||||||||
Assets
|
||||||||||||||||
Investments held in Trust Account:
|
||||||||||||||||
Money Market investments
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Liabilities
|
||||||||||||||||
Warrant liability – Founder Warrants
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Warrant liability – Private Placement Warrants
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Warrant liability – Public Warrants
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
December 31, 2022
|
||||||||||||||||
Assets
|
||||||||||||||||
Investments held in Trust Account:
|
||||||||||||||||
Money Market investments
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Liabilities
|
||||||||||||||||
Warrant liability – Founder Warrants
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
Warrant liability – Private Placement
|
|
|
|
|
||||||||||||
Warrant liability – Public Warrants
|
|
|
|
|
|
Fair value as of December 31, 2021
|
$
|
|
||
Change in fair value of Private Placement Warrants and Founder Warrants
|
(
|
)
|
||
Fair value as of March 31, 2022
|
|
|||
Change in fair value of Private Placement Warrants and Founder Warrants
|
(
|
)
|
||
Fair value as of June 30, 2022
|
|
|||
Change in fair value of Private Placement Warrants and Founder Warrants
|
(
|
)
|
||
Fair value as of September 30, 2022
|
|
|||
Change in fair value of Private Placement Warrants and Founder Warrants
|
(
|
)
|
||
Transfer of Private Warrants, and Founder Warrants to Level 2 measurement
|
(
|
)
|
||
Fair value as of December 31, 2022
|
$
|
|
Item 3. |
Quantitative and Qualitative Disclosures About Market Risk.
|
Item 4. |
Controls and Procedures.
|
ITEM 1. |
LEGAL PROCEEDINGS
|
ITEM 1A. |
RISK FACTORS
|
ITEM 2. |
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
ITEM 3. |
DEFAULTS UPON SENIOR SECURITIES
|
ITEM 4. |
MINE SAFETY DISCLOSURES
|
ITEM 5. |
OTHER INFORMATION
|
ITEM 6. |
EXHIBITS
|
Exhibit No.
|
Description
|
|
Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
||
Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
||
Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
||
Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
||
101.INS*
|
XBRL Instance Document
|
|
101.CAL*
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.SCH*
|
XBRL Taxonomy Extension Schema Document
|
|
101.DEF*
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB*
|
XBRL Taxonomy Extension Labels Linkbase Document
|
|
101.PRE*
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
104*
|
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
|
* |
Filed herewith.
|
** |
Furnished.
|
Alpha Partners Technology Merger Corp.
|
||
Date: August 21, 2023
|
By:
|
/s/ Matthew R. Krna
|
Matthew R. Krna
|
||
Chief Executive Officer
|
Alpha Partners Technology Merger Corp.
|
||
Date: August 21, 2023
|
By:
|
/s/ Sean O’Brien
|
Sean O’Brien
|
||
Chief Financial Officer
|