IPO and Financing - The company completed its Initial Public Offering on November 2, 2020, raising gross proceeds of $175.0 million from the sale of 17,500,000 units at $10.00 per unit, with offering costs of approximately $10.1 million [243]. - The company has a promissory note with the Sponsor for up to $250,000 for IPO-related costs, with approximately $176,000 borrowed as of December 31, 2020 [259]. - The underwriters are entitled to deferred underwriting commissions of approximately $6.1 million, payable only if a Business Combination is completed [261]. - The company intends to complete its initial business combination using cash from the IPO and private placement proceeds, capital shares, debt, or a combination thereof [246]. Financial Performance - As of December 31, 2020, the company reported a net loss of approximately $641,000, primarily due to general and administrative expenses of approximately $672,000, offset by interest income of approximately $31,000 [249]. - The company generated non-operating income from interest on cash and cash equivalents but will not generate operating revenues until the completion of a business combination [248]. - The diluted net loss per ordinary share is the same as the basic net loss per ordinary share due to the exclusion of certain shares from the calculation [264]. Liquidity and Capital Resources - The company had no cash outside of the Trust Account and reported working capital of approximately $842,000 as of December 31, 2020 [250]. - The company has a liquidity need satisfied through a $25,000 payment from the Sponsor and a loan of approximately $176,000, with an additional $1.6 million paid for expenses by the Sponsor's affiliate [251]. - The company has $2 million due from an affiliate of the Sponsor, which will be released once the bank account is set up [258]. - As of December 31, 2020, the company had no borrowings under Working Capital Loans [260]. Business Combination and Operations - The company has 24 months from the IPO closing date to complete a business combination, or it will cease operations and redeem public shares [247]. - At December 31, 2020, there were 16,474,748 Class A ordinary shares subject to possible redemption, classified as temporary equity [263]. Regulatory and Reporting - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards [267]. - The company is evaluating the benefits of reduced reporting requirements under the JOBS Act, which may exempt it from certain disclosures for five years [268]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures [269]. Shareholder Information - The company issued 5,031,250 Class B ordinary shares to Initial Shareholders for $25,000, with a provision for the Sponsor to surrender up to 656,250 shares if the underwriters' over-allotment option is not fully exercised [256]. - The Trust Account investments are primarily in U.S. government securities with a maturity of 185 days or less, classified as trading securities [262]. - The company does not have any off-balance sheet arrangements or long-term liabilities as of December 31, 2020 [266].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to DUDDELL STREET ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Cayman Islands | 333-249207 | N/A | | --- | --- | --- | | (St ...