Registration of securities issued in business combination transactions

Condensed Balance Sheets

v3.21.2
Condensed Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Assets:    
Cash $ 756,803 $ 84,836
Prepaid Expenses 179,867 2,258
Total current assets 936,670 87,094
Deferred offering costs 235,111
Marketable securities held in Trust Account 116,155,315
Total assets 117,091,985 322,205
Liabilities and Stockholders’ Equity    
Accrued offering costs and expenses 152,879 156,201
Promissory note – related party 150,000
Total current liabilities 152,879 306,201
Deferred underwriting fee 4,220,500
Warrant liability 5,531,106
Total liabilities 9,904,485 306,201
Commitments and Contingencies  
Common Stock subject to possible redemption, 10,117,574 and no shares at redemption value at June 30, 2021 and December 31, 2020, respectively 102,187,499
Stockholders’ Equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Common stock, $0.0001 par value; 50,000,000 shares authorized;4,674,626 and 2,875,000 shares issued and outstanding (excluding 10,117,574 and no shares subject to possible redemption) at June 30, 2021 and December 31, 2020, respectively 467 288 [1]
Additional paid-in capital 4,237,471 24,712
Accumulated deficit 762,063 (8,996)
Total stockholders’ equity 5,000,001 16,004
Total Liabilities and Stockholders’ Equity $ 117,091,985 $ 322,205
[1] Includes up to 343,125 founder shares subject to forfeiture by the Sponsor and up to 31,875 representative shares held by Ladenburg and certain of its employees subject to forfeiture if over-allotment option was not exercised in full or in part by the underwriters (see Note 5 and Note 8). As a result of the underwriter’s election to fully exercise their over-allotment option on January 14, 2021, the founder shares and representative shares are no longer subject to forfeiture (see Note 8).