Attached files
| file | filename |
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| 8-K - FORM 8-K - Apollo Strategic Growth Capital | tm2035529d1_8k.htm |
Exhibit 99.1
Apollo Strategic Growth Capital
PRO FORMA BALANCE SHEET
| Actual as of October 6, 2020 | Pro Forma Adjustments | As Adjusted | |||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||
| ASSETS | |||||||||||||
| Current assets: | |||||||||||||
| Cash | $ | 1,180,571 | $ | - | $ | 1,180,571 | |||||||
| Prepaid expenses | 18,550 | - | 18,550 | ||||||||||
| Total current assets | 1,199,121 | - | 1,199,121 | ||||||||||
| Cash held in Trust Account | 750,000,000 | 66,810,000 | (a) | 816,810,000 | |||||||||
| 1,336,200 | (b) | ||||||||||||
| (1,336,200 | ) | (c) | |||||||||||
| Total Assets | $ | 751,199,121 | $ | 66,810,000 | $ | 818,009,121 | |||||||
| Liabilities and Shareholders' Equity | |||||||||||||
| Current liabilities: | |||||||||||||
| Accrued offering costs | $ | 1,144,921 | $ | - | $ | 1,144,921 | |||||||
| Advances from related party | 355,910 | - | 355,910 | ||||||||||
| Total current liabilities | 1,500,831 | - | 1,500,831 | ||||||||||
| Deferred underwriting commissions | 26,250,000 | 2,338,350 | (d) | 28,588,350 | |||||||||
| Total liabilities | 27,750,831 | 2,338,350 | 30,089,181 | ||||||||||
| Commitments and Contingencies | |||||||||||||
| Class A ordinary shares; 71,844,828 and 78,291,993 shares subject to possible redemption at $10.00 per share, actual and as adjusted | 718,448,280 | 64,471,650 | (e) | 782,919,930 | |||||||||
| Shareholders' Equity: | |||||||||||||
| Preferred shares, $0.00005 par value; 1,000,000 shares authorized; none issued and outstanding | - | - | - | ||||||||||
| Class A ordinary shares, $0.00005 par value; 300,000,000 shares authorized; 3,155,172 and 3,389,007 shares issued and outstanding (excluding 71,844,828 and 78,291,993 shares subject to possible redemption), actual and as adjusted | 158 | 334 | (a) | 169 | |||||||||
| (323 | ) | (e) | |||||||||||
| Class B ordinary shares, $0.00005 par value, 60,000,000 shares authorized, 21,562,500 shares issued and outstanding (1) | 1,078 | - | 1,078 | ||||||||||
| Additional paid-in capital | 5,040,676 | 66,809,666 | (a) | 5,040,665 | |||||||||
| 1,336,200 | (b) | ||||||||||||
| (1,336,200 | ) | (c) | |||||||||||
| (2,338,350 | ) | (d) | |||||||||||
| (64,471,327 | ) | (e) | |||||||||||
| Accumulated deficit | (41,902 | ) | - | (41,902 | ) | ||||||||
| Total Shareholders' Equity | 5,000,010 | - | 5,000,010 | ||||||||||
| Total Liabilities and Shareholders' Equity | $ | 751,199,121 | $ | 66,810,000 | $ | 818,009,121 | |||||||
(1) Includes up to 1,142,250 shares subject to forfeiture as a result of the underwriters’ election to partially exercise their over-allotment option.
Apollo Strategic Growth Capital
Note to Pro Forma Balance Sheet
(unaudited)
NOTE 1 - CLOSING OF OVERALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT
The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of Apollo Strategic Growth Capital (the “Company”) as of October 6, 2020, adjusted for the closing of the underwriters’ overallotment option and related transactions which occurred on November 10, 2020 as described below.
On November 10, 2020, the Company consummated the closing of the sale of 6,681,000 additional shares of the Company’s Class A ordinary shares, $0.00005 par value, at a price of $10 per unit (the “Units”) upon receiving notice of the underwriters’ election to partially exercise their overallotment option (“Overallotment Units”), generating additional gross proceeds of $66,810,000 and incurred additional offering costs of $3,674,550 in underwriting fees. Each Unit consists of one share of the Company’s Class A ordinary shares, $0.00005 par value, and one-third of one warrant (each, a “Warrant” and, collectively, the “Warrants”). Each whole Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. Simultaneously with the exercise of the overallotment, the Company consummated the Private Placement of an additional 890,800 Private Placement Warrants to APSG Sponsor, L.P., a Cayman Islands limited partnership (the “Sponsor”), generating gross proceeds of $1,336,200. Of the additional $3,674,550 in underwriting fees, $2,338,350 is deferred until the completion of the Company’s initial business combination. As a result of the underwriters' election to partially exercise their overallotment option, 1,670,250 Founder Shares are no longer subject to forfeiture.
Pro forma adjustments to reflect the exercise of the underwriters’ overallotment option are as follows:
| Pro forma entry | |||||||||||
| a. | Cash held in Trust Account | 66,810,000 | |||||||||
| Class A Ordinary shares | 334 | ||||||||||
| Additional paid-in capital | 66,809,666 | ||||||||||
| To record sale of 6,681,000 Overallotment Units at $10.00 per Unit. | |||||||||||
| b. | Cash held in Trust Account | 1,336,200 | |||||||||
| Additional paid-in capital | 1,336,200 | ||||||||||
| To record sale of 890,800 Warrants at $1.50 per warrant. | |||||||||||
| c. | Additional paid-in capital | 1,336,200 | |||||||||
| Cash held in Trust Account | 1,336,200 | ||||||||||
| To record payment of 2% of cash underwriting fee on overallotment option. | |||||||||||
| d. | Additional paid-in capital | 2,338,350 | |||||||||
| Deferred underwriting compensation | 2,338,350 | ||||||||||
| To record the liability for deferred underwriting compensation on overallotment option. | |||||||||||
| e. | Class A Ordinary shares | 323 | |||||||||
| Additional paid-in capital | 64,471,327 | ||||||||||
| Class A Ordinary shares subject to conversion | 64,471,650 | ||||||||||
| To restore total equity above $5,000,001. |
F-2