Quarterly report pursuant to Section 13 or 15(d)

Reverse Recapitalization (Tables)

v3.21.2
Reverse Recapitalization (Tables)
9 Months Ended
Sep. 30, 2021
Reverse Recapitalization  
Schedule of reconciliation of business combination to statement of cash flows and statement of changes in equity

The following table reconciles the elements of the Business Combination to the consolidated statement of cash flows and the consolidated statement of changes in equity for the nine months ended September 30, 2021:

Recapitalization

Cash - Gig's trust and cash (net of redemptions and transaction costs)

$

117,796

Cash - PIPE Financing

25,000

Net Cash provided by Business Combination and PIPE Financing

142,796

Less: non-cash items charged against additional paid-in capital

(32,995)

Net contributions from Business Combination and PIPE Financing

$

109,801

Schedule of common stock outstanding following the consummation of business combination

The number of shares of Common Stock outstanding immediately following the consummation of the Business Combination:

Number of Shares

Common stock, outstanding prior to Business Combination

25,893,479

Less: redemption of Gig shares

(5,816,664)

Common stock Gig

20,076,815

Shares issued in PIPE Financing

2,500,000

Business Combination and PIPE Financing shares

22,576,815

Lightning Systems shares¹

50,652,890

Total shares of common stock outstanding immediately after Business Combination

73,229,705

¹The number of Lightning Systems shares were calculated using the Exchange Ratio contemplated in the Business Combination of approximately 0.9406.