Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2021 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) | Delaware | 84-3536151 | | --- | --- ...

MultiPlan Corporation (NYSE:MPLN) Q1 2021 Results Conference Call May 13, 2021 8:00 AM ET Company Participants Shawna Gasik - AVP, IR Mark Tabak - Chairman and CEO Dale White - President, Payor Markets David Redmond - CFO Conference Call Participants Josh Raskin - Nephron Research Daniel Grosslight - Citi Andrew Kugler - Goldman Sachs Operator Good day, and thank you for standing by. Welcome to the MultiPlan Corporation First Quarter 2021 Earnings Conference Call. At this time, all participants are in a lis ...

Table of Contents Commission file number: 001-39228 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (MARK ONE) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o For the transition period from to MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2020 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 (I.R.S. Employer Identification No.) 640 Fifth Avenue, 12 Floor New York, NY 10019 (Address of principal executive offices) (212) ...

[Company Overview](index=8&type=section&id=Company%20Overview) [Business Operations](index=8&type=section&id=Business%20Operations) Churchill Capital Corp III is a SPAC formed to pursue a business combination, generating non-operating income from IPO proceeds - The company is a **SPAC** formed to execute a business combination and has not yet generated operating revenue[22](index=22&type=chunk)[24](index=24&type=chunk) - On February 19, 2020, the company completed its Initial Public Offering, raising **$1.1 billion** in gross proceeds[25](index=25&type=chunk) - Concurrently with the IPO, **23,000,000 private placement warrants** were sold to the sponsor, generating an additional **$23 million** in gross proceeds[26](index=26&type=chunk) - Following the IPO, **$1.1 billion** was placed in a trust account, invested in U.S. government securities for a future business combination[28](index=28&type=chunk) [Part I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Financial statements for June 30, 2020, reflect the company's pre-business combination SPAC status, highlighting trust account assets and IPO-driven cash flows [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) As of June 30, 2020, total assets were **$1.108 billion**, dominated by marketable securities in the Trust Account, with significant common stock subject to redemption Condensed Balance Sheet Highlights (as of June 30, 2020) | Metric | June 30, 2020 (unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $2,955,367 | $34,000 | | Marketable securities held in Trust Account | $1,104,209,313 | $0 | | **Total Assets** | **$1,107,564,339** | **$318,930** | | **Liabilities & Equity** | | | | Total Liabilities | $40,464,311 | $295,380 | | Common stock subject to possible redemption | $1,062,100,027 | $0 | | Total Stockholders' Equity | $5,000,001 | $23,550 | | **Total Liabilities and Stockholders' Equity** | **$1,107,564,339** | **$318,930** | [Condensed Statement of Operations](index=5&type=section&id=Condensed%20Statement%20of%20Operations) For Q2 2020, the company reported a **net loss of $1.34 million**, while the six months ended June 30, 2020, showed **net income of $1.70 million** Statement of Operations Summary (Unaudited) | Metric | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Operating costs | $1,846,344 | $2,061,847 | | Interest earned on marketable securities | $2,394,013 | $4,215,679 | | **Net (Loss) Income** | **($1,335,040)** | **$1,696,498** | | Basic and diluted net loss per common share | ($0.04) | ($0.03) | [Condensed Statement of Cash Flows](index=7&type=section&id=Condensed%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2020, financing activities provided **$1.104 billion**, primarily from the IPO, with **$1.1 billion** used for trust account investments Cash Flow Summary for Six Months Ended June 30, 2020 (Unaudited) | Cash Flow Activity | Amount | | :--- | :--- | | Net cash used in operating activities | ($949,613) | | Net cash used in investing activities | ($1,100,000,000) | | Net cash provided by financing activities | $1,103,870,980 | | **Net Change in Cash** | **$2,921,367** | | **Cash – End of period** | **$2,955,367** | [Notes to Unaudited Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) Notes detail the company's formation, IPO, accounting policies, and significant subsequent events, including the definitive merger agreement with Polaris Parent Corp - The company must complete a business combination by **February 19, 2022**, or face liquidation[36](index=36&type=chunk) - On July 12, 2020, the company entered a definitive Merger Agreement with Polaris Parent Corp. for **$5.678 billion** in cash and stock consideration[81](index=81&type=chunk)[83](index=83&type=chunk) - The merger secured **$1.3 billion** in Common PIPE and **$1.3 billion** in Convertible PIPE investments for funding[85](index=85&type=chunk)[87](index=87&type=chunk) - The company pays a Sponsor affiliate **$50,000 per month** for administrative and support services[71](index=71&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's blank check status, with results driven by trust account interest income and liquidity from IPO proceeds, noting the recent Merger Agreement - The company's activities through June 30, 2020, were limited to organizational tasks, the IPO, and searching for a business combination target[117](index=117&type=chunk) Results of Operations Summary | Period | Net (Loss) Income | Key Drivers | | :--- | :--- | :--- | | Three months ended June 30, 2020 | ($1,335,040) | Operating costs and unrealized loss on securities, offset by interest income | | Six months ended June 30, 2020 | $1,696,498 | Interest income on marketable securities, offset by operating costs | - As of June 30, 2020, the company held **$1.104 billion** in marketable securities in the Trust Account and **$2.96 million** in cash for working capital[122](index=122&type=chunk)[125](index=125&type=chunk) - On July 12, 2020, the company issued a **$1.5 million** promissory note to the Sponsor for working capital, convertible into warrants[127](index=127&type=chunk) [Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20Regarding%20Market%20Risk) The company's market risk is minimal, as trust account funds are invested in short-term U.S. government securities, limiting interest rate exposure - The company's market risk exposure is limited to interest rate risk on short-term U.S. government securities in the Trust Account[136](index=136&type=chunk) [Item 4. Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes to internal control over financial reporting - Management concluded that disclosure controls and procedures were effective as of June 30, 2020[138](index=138&type=chunk) - No material changes were made to internal control over financial reporting during the quarter[139](index=139&type=chunk) [Part II. Other Information](index=29&type=section&id=Part%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings - There are no legal proceedings to report[141](index=141&type=chunk) [Item 1A. Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) Key risks include potential negative interest rates on trust account securities and the adverse impact of the COVID-19 pandemic on business combination efforts - A key risk is potential negative interest rates on U.S. government treasury obligations, reducing public share redemption value below **$10.00**[143](index=143&type=chunk)[144](index=144&type=chunk) - The COVID-19 pandemic poses a material risk to timely business combination completion due to travel restrictions and market volatility[145](index=145&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details **$1.1 billion** gross proceeds from the IPO and **$23 million** from private placement warrants, with **$1.1 billion** placed into the Trust Account - The company consummated its IPO on February 19, 2020, raising **$1.1 billion** in gross proceeds[146](index=146&type=chunk) - A private placement of **23,000,000 warrants** to the Sponsor generated an additional **$23 million** in proceeds[147](index=147&type=chunk) - Total offering costs included **$18.4 million** in upfront underwriting discounts and **$38.5 million** deferred[149](index=149&type=chunk) [Item 3. Defaults Upon Senior Securities](index=31&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[151](index=151&type=chunk) [Item 4. Mine Safety Disclosures](index=31&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[152](index=152&type=chunk) [Item 5. Other Information](index=31&type=section&id=Item%205.%20Other%20Information) The company reported no other information - None[153](index=153&type=chunk) [Item 6. Exhibits](index=32&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Quarterly Report on Form 10-Q, including officer certifications and XBRL data files

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2020 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 CHURCHILL CAPITAL CORP III (Exact Name of Registrant as Specified in Its Charter) (212) 380-7500 (Issuer's telephone number) Securiti ...