FinServ Acquisition II(FSRX) - 2021 Q3 - Quarterly Report

Financial Performance - The company reported a net income of $594,906 for the nine months ended September 30, 2021, which included a loss from operations of $510,578[97]. - For the three months ended September 30, 2021, the company had a net income of $2,148,567, with a loss from operations of $246,995[98]. Financial Position - As of September 30, 2021, the company had approximately $0.2 million in its operating bank account and working capital of approximately $1.1 million[100]. - The company has no long-term debt obligations or significant contractual obligations[104]. - The company has not incurred any amounts under working capital loans as of September 30, 2021[101]. Capital Raising - The company generated gross proceeds of $300.0 million from its IPO, with offering costs of approximately $16.8 million[93]. - The private placement generated gross proceeds of approximately $8.0 million from the sale of 800,000 units at $10.00 per unit[94]. Trust Account and Redemption - The company has placed $300.0 million in a trust account, invested in U.S. government securities, until the completion of a business combination[95]. - The company will redeem public shares at a per-share price equal to the amount in the trust account if a business combination is not completed within 24 months[96]. Administrative Agreements - The company has entered into an administrative services agreement to pay the sponsor a monthly fee of up to $10,000 for support services[103].