Financial Performance - For the six months ended June 30, 2022, the company reported a net income of $9.05 million, primarily due to a change in fair value of warrant liabilities of $10.53 million[152]. - Operating costs for the same period were $1.37 million, alongside transaction costs of $378,343[152]. - The company incurred $621,500 in fees for administrative support services during the six months ended June 30, 2022[163]. Capital Raising and Financial Position - Cartica Acquisition Corp completed its IPO on January 7, 2022, raising gross proceeds of $230 million from the sale of 23 million units at $10.00 per unit[144]. - The company also generated an additional $15.9 million from the private sale of 15.9 million warrants at $1.00 each, totaling gross proceeds of $245.9 million[145]. - As of June 30, 2022, the company held marketable securities in the Trust Account amounting to $237.17 million, including $271,557 in interest income[156]. - As of June 30, 2022, the company had cash of $1.62 million available for operational activities and due diligence on target businesses[159]. - The company has entered into a forward purchase agreement for up to $30 million in shares to be issued in connection with its initial business combination[167]. - As of June 30, 2022, the company had 27,400,000 warrants issued and outstanding[172]. Business Combination and Liquidation - The company has until July 7, 2023, to complete a business combination, with the possibility of extending this deadline by up to 24 months[149]. - If a business combination is not completed by the deadline, the company will liquidate and redeem public shares at a price equal to the amount in the Trust Account[149]. Accounting Standards - The company applies the two-class method in calculating net income (loss) per ordinary share, excluding accretion associated with redeemable shares of Class A ordinary shares[174]. - The FASB issued ASU 2020-06, effective for fiscal years beginning after December 15, 2023, which simplifies accounting for certain financial instruments and the diluted earnings per share calculation[175]. - Management does not believe that any recently issued accounting standards would have a material effect on the condensed financial statements[176].
Cartica Acquisition p(CITE) - 2022 Q2 - Quarterly Report