Royalty Management (US:RMCO)2022-08-17 20:05Financial Performance and Capital Structure - The company raised a total of $101,000,000 from the Initial Public Offering and Private Warrants, which was placed in the Trust Account[134]. - The company issued 2,875,000 common stock shares to initial stockholders for an aggregate purchase price of $25,000, approximately $0.01 per share[132]. - An additional 506,002 Units were purchased by underwriters, resulting in an additional $5,110,620.80 placed in the Trust Account[136]. - The company issued 3,800,000 Private Warrants at a price of $1.00 per warrant, each exercisable at $11.50 per share[133]. Risk Management - As of June 30, 2022, the company was not subject to any market or interest rate risk, with net proceeds from the Initial Public Offering invested in U.S. government treasury bills or certain money market funds[125]. - The company’s Private Warrants are classified as derivative liabilities, which may lead to fluctuations in financial statements based on fair value measurements[130]. - The company expects to recognize non-cash gains or losses on Private Warrants each reporting period, which could be material[131]. Internal Controls and Legal Matters - The company’s disclosure controls and procedures were evaluated as effective at a reasonable assurance level as of June 30, 2022[127]. - There were no changes in internal control over financial reporting that materially affected the company during the fiscal quarter of 2022[128]. - No legal proceedings were reported against the company during the period covered by the report[129].