Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Bluescape Opportunities Acquisition Corp. | tm2035615d1_8k.htm |
Exhibit 99.1
BLUESCAPE OPPORTUNITIES ACQUISITION CORP.
PRO FORMA BALANCE SHEET
| Actual as of October 30, 2020 | Pro Forma Adjustments | As Adjusted as of October 30, 2020 | |||||||||||
| Unaudited | Unaudited | ||||||||||||
| ASSETS: | |||||||||||||
| Current asset | |||||||||||||
| Cash | 1,653,833 | 1,653,833 | |||||||||||
| Prepaid expenses | 292,226 | 292,226 | |||||||||||
| Total Current Assets | 1,946,059 | 1,946,059 | |||||||||||
| Cash held in Trust Account | 575,000,000 | 32,500,000 | (a) | 607,500,000 | |||||||||
| (650,000 | ) | (b) | |||||||||||
| 650,000 | (d) | ||||||||||||
| Total Assets | 576,946,059 | 32,500,000 | 609,446,059 | ||||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||
| Current asset | |||||||||||||
| Accounts payable and accrued expenses | 913,746 | 913,746 | |||||||||||
| Total Current Liabilities | 913,746 | 913,746 | |||||||||||
| Deferred underwriting commissions | 20,125,000 | 1,137,500 | (c) | 21,262,500 | |||||||||
| Total Liabilities | 21,038,746 | 1,137,500 | 22,176,246 | ||||||||||
| Commitments and Contingencies | |||||||||||||
| Class A ordinary shares subject to possible redemption; 55,090,731 and 58,226,981 shares (at approximately $10.00 per share) | 550,907,311 | 31,362,500 | (f) | 582,269,811 | |||||||||
| Shareholders’ Equity: | |||||||||||||
| Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding | |||||||||||||
| Class A ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 2,409,269 and 2,523,019 issued and outstanding | 241 | 325 | (a) | 252 | |||||||||
| (314 | ) | (f) | |||||||||||
| Class B ordinary shares, $0.0001 par value, 50,000,000 shares authorized, 16,531,250 and 15,187,500 shares issued and outstanding | 1,653 | (134 | ) | (e) | 1,519 | ||||||||
| Additional paid-in capital | 5,036,000 | (31,362,186 | ) | (f) | 5,036,123 | ||||||||
| 32,499,675 | (a) | ||||||||||||
| 134 | (e) | ||||||||||||
| (1,137,500 | ) | (c) | |||||||||||
| (650,000 | ) | (b) | |||||||||||
| 650,000 | (d) | ||||||||||||
| Accumulated deficit | (37,892 | ) | (37,892 | ) | |||||||||
| Total Shareholders’ Equity | 5,000,002 | 0 | 5,000,002 | ||||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 576,946,059 | 32,500,000 | 609,446,059 | ||||||||||
See accompanying note to the pro forma balance sheet
BLUESCAPE OPPORTUNITIES ACQUISITION CORP.
NOTES TO PRO FORMA BALANCE SHEET
NOTE 1 - CLOSING OF OVER-ALLOTMENT OPTION
The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of Bluescape Opportunities Acquisition Corporation (the “Company”) as of October 30, 2020, adjusted for the partial closing of the underwriters’ over-allotment option and related transactions, which occurred on November 12, 2020, as described below.
On November 12, 2020, the Company consummated the closing of the sale of 3,250,000 additional units (the “Units”) at a price of $10.00 per unit upon receiving notice of the underwriters’ election to partially exercise their over-allotment option, generating additional gross proceeds of $32,500,000 to the Company. Each Unit consists of one Class A ordinary share (the “Ordinary Share”) and one-half of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one Ordinary Share at a price of $11.50 per share. Simultaneously with the exercise of the over-allotment option, the Company consummated the private placement of an additional 650,000 warrants (the “Private Placement Warrants”), at a purchase price of $1.00 per Private Placement Warrant, to Bluescape Sponsor LLC and an investment fund managed by Zimmer Partners, LP, generating gross proceeds of $650,000. Transaction costs amounted to $1,787,500, consisting of $650,000 in cash underwriting fees and $1,137,500 of additional underwriting fees, which have been deferred until the completion of the Company’s Business Combination. As a result of the underwriters’ election to partially exercise their over-allotment option, 1,343,750 Founder Shares were forfeited, resulting 15,187,500 Founder Shares outstanding. Pro forma adjustments to reflect the exercise of the underwriters’ over-allotment option are as follows:
F-2
| Pro forma entries: | Debt | Credit | |||
| a. | Cash held in Trust Account | 32,500,000 | |||
| Class A ordinary shares | 325 | ||||
| Additional paid-in capital | 32,499,675 | ||||
| To record sale of 3,250,000 Units on over-allotment option at $10.00 per Unit. | |||||
| b. | Additional paid-in capital | 650,000 | |||
| Cash held in Trust Account | 650,000 | ||||
| To record payment of 2.0% of cash underwriting fee on over-allotment option. | |||||
| c. | Additional paid-in capital | 1,137,500 | |||
| Deferred underwriting fee payable | 1,137,500 | ||||
| To record the liability for the 3.5% deferred underwriting fees on over-allotment option. | |||||
| d. | Cash held in Trust Account | 650,000 | |||
| Additional paid in capital | 650,000 | ||||
| To record sale of 650,000 over-allotment Private Placement Warrants at $1.00 per warrant. | |||||
| e. | Class B ordinary shares | 134 | |||
| Additional paid in capital | 134 | ||||
| To record forfeiture of 1,343,750 Founder Shares | |||||
| f. | Class A ordinary shares | 314 | |||
| Additional paid-in capital | 31,362,186 | ||||
| Ordinary shares subject to redemption | 31,362,500 |
F-3