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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/15/22 10X Capital Venture Acq Corp. III 10-Q 6/30/22 54:3.4M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 598K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 20K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 20K 4: EX-32.1 Certification -- §906 - SOA'02 HTML 17K 5: EX-32.2 Certification -- §906 - SOA'02 HTML 17K 11: R1 Cover Page HTML 83K 12: R2 Condensed Balance Sheets HTML 106K 13: R3 Condensed Balance Sheets (Parenthetical) HTML 49K 14: R4 Condensed Balance Sheets (Parenthetical 1) HTML 26K 15: R5 Condensed Statements of Operations HTML 69K 16: R6 Condensed Statements of Operations (Parenthetical) HTML 19K 17: R7 Condensed Statements of Operations (Parenthetical HTML 30K 1) 18: R8 Condensed Statements of Changes in Shareholders' HTML 85K Equity (Deficit) 19: R9 Condensed Statements of Changes in Shareholders' HTML 32K Equity (Deficit) (Parenthetical) 20: R10 Condensed Statements of Cash Flows HTML 82K 21: R11 Description of Organization, Business Operations HTML 40K and Going Concern 22: R12 Basis of Presentation and Summary of Significant HTML 63K Accounting Policies 23: R13 Initial Public Offering HTML 20K 24: R14 Private Placement HTML 20K 25: R15 Related Party Transactions HTML 26K 26: R16 Commitments and Contingencies HTML 23K 27: R17 Class A Ordinary Shares Subject to Possible HTML 27K Redemption 28: R18 Shareholders' Deficit HTML 28K 29: R19 Warrants HTML 28K 30: R20 Fair Value Measurements HTML 28K 31: R21 Subsequent Events HTML 20K 32: R22 Basis of Presentation and Summary of Significant HTML 95K Accounting Policies (Policies) 33: R23 Basis of Presentation and Summary of Significant HTML 38K Accounting Policies (Tables) 34: R24 Class A Ordinary Shares Subject to Possible HTML 28K Redemption (Tables) 35: R25 Fair Value Measurements (Tables) HTML 25K 36: R26 Description of Organization, Business Operations HTML 70K and Going Concern - Additional Information (Detail) 37: R27 Basis of Presentation and Summary of Significant HTML 60K Accounting Policies - Summary of Basic and Diluted Net Income (Loss) per Common Share (Detail) 38: R28 Basis of Presentation and Summary of Significant HTML 32K Accounting Policies - Additional Information (Detail) 39: R29 Initial Public Offering - Additional information HTML 42K (Detail) 40: R30 Private Placement - Additional Information HTML 25K (Detail) 41: R31 Related Party Transactions - Additional HTML 99K Information (Detail) 42: R32 Commitments and Contingencies - Additional HTML 31K Information (Detail) 43: R33 Class A Ordinary Shares Subject to Possible HTML 37K Redemption - Summary Of Class A Ordinary Shares Subject To Possible Redemption (Detail) 44: R34 Class A Ordinary Shares Subject to Possible HTML 29K Redemption - Additional Information (Detail) 45: R35 Shareholders' Deficit - Additional Information HTML 56K (Detail) 46: R36 Warrants - Additional Information (Detail) HTML 64K 47: R37 Fair Value Measurements - Summary of assets that HTML 27K are measured at fair value on a recurring basis (Detail) 48: R38 Fair Value Measurements - Summary of assets that HTML 22K are measured at fair value on a recurring basis (Parenthetical) (Detail) 49: R39 Fair Value Measurements - Additional Information HTML 19K (Detail) 52: XML IDEA XML File -- Filing Summary XML 91K 50: XML XBRL Instance -- d366407d10q_htm XML 614K 51: EXCEL IDEA Workbook of Financial Reports XLSX 96K 7: EX-101.CAL XBRL Calculations -- vcxb-20220630_cal XML 59K 8: EX-101.DEF XBRL Definitions -- vcxb-20220630_def XML 562K 9: EX-101.LAB XBRL Labels -- vcxb-20220630_lab XML 660K 10: EX-101.PRE XBRL Presentations -- vcxb-20220630_pre XML 647K 6: EX-101.SCH XBRL Schema -- vcxb-20220630 XSD 125K 53: JSON XBRL Instance as JSON Data -- MetaLinks 226± 346K 54: ZIP XBRL Zipped Folder -- 0001193125-22-221296-xbrl Zip 157K
Form 10-Q |
i ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Cayman Islands |
i 98-1611637 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
i Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant |
i VCXB.U |
i New York Stock Exchange | ||
i Class A ordinary shares, par value $0.0001 per share |
i VCXB |
i New York Stock Exchange | ||
i Warrants, each whole warrant exercisable for one Class A ordinary share, each at an exercise price of $11.50 per share |
i VCXB WS |
i New York Stock Exchange |
Large accelerated filer |
☐ |
Accelerated filer |
☐ | |||
i Non-accelerated filer |
☒ |
Smaller reporting company |
i ☒ | |||
Emerging growth company |
i ☒ |
Page |
||||||
Item 1. |
||||||
1 | ||||||
2 | ||||||
3 | ||||||
4 | ||||||
5 | ||||||
Item 2. |
17 | |||||
Item 3. |
21 | |||||
Item 4. |
22 | |||||
Item 1. |
22 | |||||
Item 1A. |
22 | |||||
Item 2. |
22 | |||||
Item 3. |
23 | |||||
Item 4. |
23 | |||||
Item 5. |
23 | |||||
Item 6. |
23 | |||||
24 |
(Unaudited) |
||||||||
Assets |
||||||||
Current assets: |
||||||||
Cash |
$ | i 491,254 | $ | i — | ||||
Prepaid expenses |
i 120,812 | i 26,800 | ||||||
|
|
|
|
|||||
Total current assets |
i 612,066 | i 26,800 | ||||||
Cash and investments held in Trust Account |
i 304,906,850 | i — | ||||||
Offering costs associated with initial public offering |
i — | i 540,102 | ||||||
|
|
|
|
|||||
Total Assets |
$ |
i 305,518,916 |
$ |
i 566,902 |
||||
|
|
|
|
|||||
Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit |
||||||||
Current liabilities: |
||||||||
Accounts payable |
$ | i 227,984 | $ | i 215,247 | ||||
Accrued expenses |
i 201,149 | i 236,491 | ||||||
Note payable - related party |
i — | i 134,771 | ||||||
|
|
|
|
|||||
Total current liabilities |
i 429,133 | i 586,509 | ||||||
Deferred underwriting commissions |
i 14,280,000 | i — | ||||||
|
|
|
|
|||||
Total Liabilities |
i 14,709,133 | i 586,509 | ||||||
Commitments and Contingencies |
i | i | ||||||
Class A ordinary shares subject to possible redemption; i i 30,000,000 /
and - i i 0 / - |
i 304,806,850 | — | ||||||
Shareholders’ Deficit |
||||||||
Preference shares, $ i i 0.0001 /
par value; i i 1,000,000 / shares authorized; i i i i none / / /
issued or outstanding |
i — | i — | ||||||
Class A ordinary shares, $ i i 0.0001 /
par value; i i 500,000,000 /
shares authorized; i i 1,153,000 /
and - i i 0 / - non-redeemable shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively |
i 115 | i — | ||||||
Class B ordinary shares, $ i i 0.0001 /
par value; i i 50,000,000 /
shares authorized; i i 10,000,000 /
and i i 10,005,000 / s December 31, 2021, respectively |
i 1,000 | i 1,001 | (1) | |||||
Additional paid-in capital |
i — | i 23,999 | ||||||
Accumulated deficit |
( i 13,998,182 | ) | ( i 44,607 | ) | ||||
|
|
|
|
|||||
Total Shareholders’ Deficit |
( i 13,997,067 | ) | ( i 19,607 | ) | ||||
|
|
|
|
|||||
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit |
$ |
i 305,518,916 |
$ |
i 566,902 |
||||
|
|
|
|
(1) | This number includes up to i 1,305,000 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter. On January 14, 2022, the underwriter partially exercised the over-allotment option to purchase additional i 3,900,000
Units; thus, i 5,000 Class B ordinary shares were subsequently forfeited when the over-allotment option expired on February 25, 2022. Shares and associated amounts have been retroactively restated to reflect the share capitalization of i 421,667
Class B ordinary shares outstanding (see Note 5). |
For the three months ended June 30, |
||||||||||||||||
2021 |
||||||||||||||||
General and administrative expenses |
$ | i 248,050 | $ | i 386 | $ | i 641,811 | $ | i 10,934 | ||||||||
Administrative expenses - related party |
i 112,500 | i — | i 225,000 | i — | ||||||||||||
Loss from operations |
( i 360,550 | ) | ( i 386 | ) | ( i 866,811 | ) | ( i 10,934 | ) | ||||||||
Other income: |
||||||||||||||||
Income from investments held in Trust Account |
i 247,957 | i — | i 406,850 | i — | ||||||||||||
Total other income |
i 247,957 | i — | i 406,850 | i — | ||||||||||||
Net loss |
$ | ( i 112,593 | ) | $ | ( i 386 | ) | $ | ( i 459,961 | ) | $ | ( i 10,934 | ) | ||||
Weighted average Class A ordinary shares - basic and diluted |
i i 31,153,000 / | i i — / | i i 28,915,492 / | i i — / | ||||||||||||
Basic and diluted net loss per share, Class A ordinary shares |
$ | ( i i 0.00 / | ) | $ | i i — / | $ | ( i i 0.01 / | ) | $ | i i — / | ||||||
Weighted average Class B ordinary shares - basic and diluted |
i i 10,000,000 / | i i 8,700,000 / | (1) |
i i 9,906,630 / | i i 8,206,383 / | (1) | ||||||||||
Basic and diluted net loss per share, Class B ordinary shares |
$ | ( i i 0.00 / | ) | $ | ( i i 0.00 / | ) | $ | ( i i 0.01 / | ) | $ | ( i i 0.00 / | ) | ||||
(1) | This number excludes up to i 1,305,000 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter. On January 14, 2022, the underwriter partially exercised the over-allotment option to purchase additional i 3,900,000
Units; thus, i 5,000 Class B ordinary shares were subsequently forfeited when the over-allotment option expired on February 25, 2022. Shares and associated amounts have been retroactively restated to reflect the surrender of i 2,089,167
Class B ordinary shares for i no consideration, and the share capitalization of i 421,667
Class B ordinary shares outstanding (see Note 5). |
Ordinary Shares |
Additional Paid-in Capital |
Total Shareholders’ Deficit |
||||||||||||||||||||||||||
Non-redeemable Class A |
Class B |
Accumulated Deficit |
||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
|||||||||||||||||||||||||
Balance - December 31, 2021 |
— |
$ |
— |
i 10,005,000 |
$ |
i 1,001 |
$ |
i 23,999 |
$ |
( i 44,607 |
) |
$ |
( i 19,607 |
) | ||||||||||||||
Sale of private placement units in private placement |
i 1,153,000 | i 115 | — | — | i 11,529,885 | — | i 11,530,000 | |||||||||||||||||||||
Fair value of warrants included in the Units sold in the Initial Public Offering |
— | — | — | — | i 12,300,000 | — | i 12,300,000 | |||||||||||||||||||||
Offering costs associated with issuance of warrants as part of the Units in the Initial Public Offering |
— | — | — | — | ( i 829,867 | ) | — | ( i 829,867 | ) | |||||||||||||||||||
Forfeiture of Class B ordinary shares |
— | — | ( i 5,000 | ) | ( i 1 | ) | i 1 | — | — | |||||||||||||||||||
Accretion for Class A ordinary shares to redemption amount |
— | — | — | — | ( i 23,024,018 | ) | ( i 13,186,764 | ) | ( i 36,210,782 | ) | ||||||||||||||||||
Net loss |
— | — | — | — | — | ( i 347,368 | ) | ( i 347,368 | ) | |||||||||||||||||||
Balance - March 31, 2022 (Unaudited) |
i 1,153,000 |
i 115 |
i 10,000,000 |
i 1,000 |
— |
( i 13,578,739 |
) |
( i 13,577,624 |
) | |||||||||||||||||||
Increase in redemption value of Class A ordinary shares subject to possible redemption |
— |
— |
— |
— |
— |
( i 306,850 |
) |
( i 306,850 | ) | |||||||||||||||||||
Net loss |
— | — | — | — | — | ( i 112,593 | ) | ( i 112,593 | ) | |||||||||||||||||||
Balance - June 30, 2022 (Unaudited) |
i 1,153,000 |
$ |
i 115 |
i 10,000,000 |
$ |
i 1,000 |
$ |
— |
$ |
( i 13,998,182 |
) |
$ |
( i 13,997,067 |
) | ||||||||||||||
Ordinary Shares |
Additional Paid-in Capital |
Total Shareholders’ Equity |
||||||||||||||||||||||||||
Non-redeemable Class A |
Class B |
Accumulated Deficit |
||||||||||||||||||||||||||
Shares |
Amount |
Shares |
Amount |
|||||||||||||||||||||||||
Balance - February 10, 2021 (inception) |
i — |
$ |
i — |
i — |
$ |
i — |
$ |
i — |
$ |
i — |
$ |
i — |
||||||||||||||||
Issuance of Class B ordinary shares to Sponsor (1) |
— | — | i 10,005,500 | i 1,001 | i 23,999 | — | i 25,000 | |||||||||||||||||||||
Net loss |
— | — | — | — | — | ( i 10,547 | ) | ( i 10,547 | ) | |||||||||||||||||||
Balance - March 31, 2021 (Unaudited) |
— |
— |
i 10,005,500 |
i 1,001 |
i 23,999 |
( i 10,547 |
) |
i 14,453 |
||||||||||||||||||||
Net loss |
— | — | — | — | — | ( i 386 | ) | ( i 386 | ) | |||||||||||||||||||
Balance - June 30, 2021 (Unaudited) |
— |
$ |
— |
i 10,005,500 |
$ |
i 1,001 |
$ |
i 23,999 |
$ |
( i 10,933 |
) |
$ |
i 14,067 |
|||||||||||||||
(1) | This number includes up to i 1,305,000 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter. On January 14, 2022, the underwriter partially exercised the over-allotment option to purchase additional i 3,900,000
Units; thus, i 5,000 Class B ordinary shares were subsequently forfeited when the over-allotment option expired on February 25, 2022. Shares and associated amounts have been retroactively restated to reflect the surrender of i 2,089,167
Class B ordinary shares for i no consideration, and the share capitalization of i 421,667
Class B ordinary shares outstanding (see Note 5). |
Cash Flows from Operating Activities: |
||||||||
Net loss |
$ | ( i 459,961 | ) | $ | ( i 10,934 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities: |
||||||||
General and administrative expenses paid by related party in exchange for issuance of Class B ordinary shares |
i — | i 10,547 | ||||||
Income from investments held in Trust Account |
( i 406,850 | ) | ||||||
Changes in operating assets and liabilities: |
||||||||
Prepaid expenses |
( i 94,012 | ) | — | |||||
Accounts payable |
i 99,762 | i 387 | ||||||
Accrued expenses |
i 173,512 | — | ||||||
|
|
|
|
|||||
Net cash used in operating activities |
( i 687,549 | ) | — | |||||
|
|
|
|
|||||
Cash Flows from Investing Activities: |
||||||||
Cash deposited in Trust Account |
( i 304,500,000 | ) | — | |||||
|
|
|
|
|||||
Net cash used in investing activities |
( i 304,500,000 | ) | — | |||||
|
|
|
|
|||||
Cash Flows from Financing Activities: |
||||||||
Repayment of note payable to related party |
( i 136,617 | ) | — | |||||
Proceeds received from initial public offering |
i 300,000,000 | — | ||||||
Proceeds received from private placement |
i 11,530,000 | — | ||||||
Offering costs paid |
( i 5,714,580 | ) | — | |||||
|
|
|
|
|||||
Net cash provided by financing activities |
i 305,678,803 | — | ||||||
|
|
|
|
|||||
Net change in cash |
i 491,254 | — | ||||||
Cash - beginning of the period |
i — | — | ||||||
|
|
|
|
|||||
Cash - end of the period |
$ |
i 491,254 |
$ |
— |
||||
|
|
|
|
|||||
Supplemental disclosure of noncash financing activities: |
||||||||
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares |
$ | i — | $ | i 14,453 | ||||
|
|
|
|
|||||
Offering costs included in accounts payable |
$ | i 95,000 | $ | i 62,128 | ||||
|
|
|
|
|||||
Offering costs included in accrued expenses |
$ | i — | $ | i 25,000 | ||||
|
|
|
|
|||||
Offering costs paid by related party under promissory note |
$ | i 1,847 | $ | i 52,245 | ||||
|
|
|
|
|||||
Deferred underwriting commissions |
$ | i 14,280,000 | $ | i — | ||||
|
|
|
|
• | Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; |
• | Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and |
• | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. |
For the three months ended June 30, |
For the six months ended June 30, |
|||||||||||||||||||||||
2022 |
2021 |
2022 |
||||||||||||||||||||||
Class A |
Class B |
Class B |
Class A |
Class B |
Class B |
|||||||||||||||||||
Basic and diluted net loss per ordinary share: |
||||||||||||||||||||||||
Numerator: |
||||||||||||||||||||||||
Allocation of net loss |
$ | ( i 85,233 | ) | $ | ( i 27,360 | ) | $ | ( i 386 | ) | $ | ( i 340,397) | $ | ( i 119,564) | $ | ( i 10,934) | |||||||||
Denominator: |
||||||||||||||||||||||||
Basic and diluted weighted average ordinary shares outstanding |
i i 31,153,000 / | i i 10,000,000 / | i i 8,700,000 / | i i 28,915,492 / | i i 9,906,630 / | i i 8,206,383 / | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Basic and diluted net loss per ordinary share |
$ | ( i i 0.00 / ) | $ | ( i i 0.00 / ) | $ | ( i i 0.00 / ) | $ | ( i i 0.01 / ) | $ | ( i i 0.01 / ) | $ | ( i i 0.00 / ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Gross proceeds |
$ | i 300,000,000 | ||
Less: |
||||
Proceeds allocated to Public Warrants |
( i 12,300,000 | ) | ||
Class A ordinary shares issuance costs |
( i 19,410,782 | ) | ||
Plus: |
||||
Accretion of carrying value to redemption value |
i 36,210,782 | |||
|
|
|||
Class A ordinary shares subject to possible redemption as of March 31, 2022 |
i 304,500,000 |
|||
Increase in redemption value of Class A ordinary shares subject to possible redemption |
i 306,850 | |||
|
|
|||
Class A ordinary shares subject to possible redemption as of June 30, 2022 |
$ |
i 304,806,850 |
||
|
|
• | in whole and not in part; |
• | at a price of $ i 0.01 per warrant; |
• | upon a minimum of i 30 days’ prior written notice of redemption to each warrant holder; and |
• | if, and only if, the last reported sale price (the “closing price”) of Class A ordinary shares equals or exceeds $18.00 per share (as adjusted) for any i 20 trading days within a i 30-trading
day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. |
Description |
Quoted Prices in Active Markets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Other Unobservable Inputs (Level 3) |
|||||||||
Assets: |
||||||||||||
Investments held in Trust Account-U.S. Treasury Securities (1) |
$ | i 304,902,076 | $ | i — | $ | i — |
(1) |
Excludes $ i 4,774 of cash balance held within the Trust Account |
* |
** | Furnished. |
10X CAPITAL VENTURE ACQUISITION CORP. III | ||||||
Date: August 15, 2022 | By: | /s/ Hans Thomas | ||||
Name: | Hans Thomas | |||||
Title: | Chief Executive Officer | |||||
(Principal Executive Officer) | ||||||
Date: August 15, 2022 | By: | /s/ Guhan Kandasamy | ||||
Name: | Guhan Kandasamy | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial and Accounting | ||||||
Officer and Duly Authorized Officer) |
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/15/23 | ||||
1/14/23 | ||||
12/31/22 | ||||
Filed on: | 8/15/22 | |||
For Period end: | 6/30/22 | |||
3/31/22 | 10-K, 10-Q | |||
2/25/22 | ||||
1/14/22 | 4, 424B4, 8-K | |||
1/11/22 | 3, 3/A, 8-A12B, 8-K, CERT, EFFECT, S-1MEF | |||
12/31/21 | 10-K | |||
12/1/21 | ||||
6/30/21 | UPLOAD | |||
3/31/21 | ||||
2/18/21 | ||||
2/10/21 | ||||
4/5/12 | ||||
List all Filings |