Velo3D(US:VLD)2021-01-15 21:06Financial Performance - The company had a net loss of $5,000 from inception through September 30, 2020, primarily due to formation and operating costs [100]. - The company incurred $19,126,250 in transaction costs related to the IPO, including $6,900,000 in underwriting fees [103]. - The underwriters are entitled to a deferred fee of $12,075,000, payable only upon the completion of a Business Combination [110]. Liquidity and Funding - As of September 30, 2020, the company had no cash and relied on initial purchases of ordinary shares and loans from the Sponsor for liquidity [101]. - Following the IPO, $345,000,000 was placed in the Trust Account, with an additional $2,450,000 in cash available for working capital [103]. - The company intends to use funds in the Trust Account to complete a Business Combination and may withdraw interest to pay taxes [104]. - The company plans to use cash held outside the Trust Account for identifying and evaluating target businesses and conducting due diligence [105]. Debt and Liabilities - There are no off-balance sheet financing arrangements as of September 30, 2020 [108]. - The company has no long-term debt or significant liabilities, only a monthly fee of $10,000 to an affiliate of the Sponsor for administrative services [109]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) on December 7, 2020, raised gross proceeds of $345,000,000 from the sale of 34,500,000 Units at $10.00 per Unit [102].