SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
(Mark One)
| ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
OR
| ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ___________ to ___________
(Exact Name of Registrant as Specified in its Charter)
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(I.R.S. Employer Identification No.) |
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(Address of principal executive offices) |
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Registrant’s telephone number, including area code: (
Securities registered pursuant to Section
Title of each class |
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Name of each exchange on which registered |
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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of
Large accelerated filer |
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Accelerated filer |
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Smaller reporting company |
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Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
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PART I. |
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2 |
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Item 1. |
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2 |
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3 |
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Condensed Statements of Changes in Shareholders’ Deficit (unaudited) |
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5 |
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Item 2. |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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Item 3. |
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Item 4. |
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PART II. |
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Item 1. |
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Item 1A. |
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Item 2. |
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Item 3. |
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Item 4. |
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Item 5. |
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Item 6. |
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24 |
PART I
Item 1.
TPG Pace Beneficial II Corp.
Condensed
(unaudited)
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June 30, 2022 |
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December 31, 2021 |
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Assets |
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Current assets: |
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Cash |
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$ |
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$ |
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Prepaid expenses |
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Total current assets |
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Cash held in Trust Account |
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Total assets |
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$ |
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$ |
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Liabilities and shareholders' deficit |
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Current liabilities: |
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Accrued expenses, formation and offering costs |
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$ |
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$ |
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Note payable to Sponsor |
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Deferred underwriting compensation, current portion |
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— |
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Total current liabilities |
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Deferred underwriting compensation |
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— |
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Total liabilities |
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Class A ordinary shares subject to possible redemption: |
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Shareholders' deficit: |
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Preferred shares, $ |
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Class A ordinary shares, $ |
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Class F ordinary shares, $ |
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Class G ordinary shares, $ |
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Additional paid-in capital |
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— |
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— |
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Accumulated deficit |
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Total shareholders' deficit |
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Total liabilities and shareholders' deficit |
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$ |
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$ |
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The accompanying notes are an integral part of these condensed financial statements.
TPG Pace Beneficial II Corp.
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For the Three |
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For the Three |
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For the Six |
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For the Period from |
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Months Ended |
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Months Ended |
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Months Ended |
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January 4, 2021 (inception) |
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June 30, 2022 |
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June 30, 2021 |
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June 30, 2022 |
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to June 30, 2021 |
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Revenue |
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$ |
— |
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$ |
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$ |
— |
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$ |
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Professional expenses and formation costs |
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Loss from operations |
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Net loss attributable to ordinary shares |
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$ |
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$ |
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$ |
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$ |
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Net loss per ordinary share: |
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Class A ordinary shares subject to possible redemption - basic and diluted |
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$ |
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$ |
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$ |
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$ |
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Founder Shares and Private Placement Shares - basic and diluted |
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$ |
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$ |
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$ |
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Weighted average ordinary shares outstanding: |
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Class A ordinary shares subject to possible redemption - basic and diluted |
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Founder Shares and Private Placement Shares - basic and diluted |
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The accompanying notes are an integral part of these condensed financial statements.
TPG Pace Beneficial II Corp.
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Preferred Shares |
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Class A |
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Class F |
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Class G |
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Additional |
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Accumulated |
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Shareholders' |
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Shares |
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Amount |
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Shares |
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Amount |
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Shares |
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Amount |
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Shares |
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Amount |
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Paid-In Capital |
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Deficit |
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Deficit |
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Balance at January 4, 2021 |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Sale of Class F ordinary shares to |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Forfeiture of Class F ordinary |
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— |
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— |
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— |
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— |
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( |
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— |
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— |
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— |
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— |
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Issuance of Class G ordinary |
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— |
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— |
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— |
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— |
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— |
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— |
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( |
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— |
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— |
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Net loss attributable to ordinary |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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( |
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( |
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Balance at March 31, 2021 |
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— |
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$ |
— |
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— |
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$ |
— |
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$ |
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$ |
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$ |
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$ |
( |
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$ |
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Sale of Private Placement Shares to |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Founder Share dividend of $ |
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— |
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— |
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— |
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— |
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( |
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— |
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— |
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Adjustments to increase Class A ordinary |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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( |
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( |
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( |
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Net loss attributable to ordinary |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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( |
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( |
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Balance at June 30, 2021 |
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— |
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$ |
— |
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$ |
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$ |
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$ |
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$ |
— |
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$ |
( |
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$ |
( |
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Balance at December 31, 2021 |
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— |
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— |
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— |
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( |
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( |
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Net loss attributable to ordinary |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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( |
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( |
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Balance at March 31, 2022 |
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— |
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$ |
— |
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$ |
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$ |
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$ |
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$ |
— |
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$ |
( |
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$ |
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Net loss attributable to ordinary |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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( |
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( |
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Balance at June 30, 2022 |
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— |
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$ |
— |
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$ |
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$ |
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$ |
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$ |
— |
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$ |
( |
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$ |
( |
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The accompanying notes are an integral part of these condensed financial statements.
TPG Pace Beneficial II Corp.
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For the Six |
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For the Period from |
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Months Ended |
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January 4, 2021 (inception) |
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June 30, 2022 |
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to June 30, 2021 |
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Cash flows from operating activities: |
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Net loss attributable to ordinary shares |
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$ |
( |
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$ |
( |
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Changes in operating assets and liabilities: |
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Prepaid expenses |
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— |
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Deferred offering costs |
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— |
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( |
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Accrued expenses, formation and offering costs |
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Net cash used in operating activities |
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( |
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( |
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Cash flows from investing activities: |
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Proceeds deposited into Trust Account |
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— |
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( |
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Net cash used in investing activities |
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— |
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( |
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Cash flows from financing activities: |
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Proceeds from sale of Class F ordinary shares to Sponsor |
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— |
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Proceeds from sale of Class A ordinary shares in initial public offering |
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— |
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Proceeds from sale of Private Placement Shares to Sponsor |
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— |
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Proceeds of notes payable from Sponsor |
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— |
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Payment of underwriters discounts |
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— |
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( |
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Payment of accrued offering costs |
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( |
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( |
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Repayment of notes payable to Sponsor |
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— |
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( |
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Net cash provided by (used in) financing activities |
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( |
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Net change in cash |
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Cash at beginning of period |
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— |
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Cash at end of period |
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$ |
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$ |
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Supplemental disclosure of non-cash financing activities: |
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Accrued offering costs |
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$ |
— |
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$ |
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The accompanying notes are an integral part of these condensed financial statements.
TPG Pace Beneficial II Corp.
Organization and General
TPG Pace VI Holdings Corp. (the
If the Company does not complete an initial Business Combination within 24 months from
The accompanying condensed financial statements have been prepared on a going concern basis and do not include any adjustments that might arise as a result of uncertainties about the Company
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The Company intends to finance a Business Combination with proceeds from its $
Funds will remain in the Trust Account except for the withdrawal of interest earned on the funds that may be released to the Company to pay taxes and up to $
The remaining proceeds outside the Trust Account may be used to pay business, legal and accounting due diligence on prospective acquisitions, listing fees and continuing general and administrative expenses.
After signing a definitive agreement for a Business Combination, the Company will provide the public shareholders with the opportunity to redeem all or a portion of their Public Shares either (i)
7 Combination within 24 months from the Close Date. However, if the Initial Shareholders acquire Public Shares after the Close Date, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete the Business Combination within the allotted 24-month time period. The underwriters have agreed to waive their rights to any deferred underwriting commission held in the Trust Account in the event the Company does not complete the Business Combination and those amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Company If the Company fails to complete the Business Combination, the redemption of the Company If the Company holds a shareholder vote or there is a tender offer for shares in connection with a Business Combination, a public shareholder will have the right to redeem its shares for an amount in cash equal to its pro
2. Summary of Significant Accounting Policies
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (
Emerging Growth Company
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the "Exchange Act") are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to
Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company did
Concentration of Credit Risk
Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $
The fair value of the Company
ASC 820 establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics
8
specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets will typically have a higher degree of input observability and a lesser degree of judgment applied in determining fair value.
The three levels of the fair value hierarchy under ASC 820 are as follows:
Level 1 - Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used.
Level 2 - Pricing inputs are other than quoted prices included within Level 1 that are observable for the investment, either directly or indirectly. Level 2 pricing inputs include quoted prices for similar investments in active markets, quoted prices for identical or similar investments in markets that are not active, inputs other than quoted prices that are observable for the investment, and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3 - Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. The inputs used in determination of fair value require significant judgment and estimation.
In some cases, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the investment is categorized in its entirety is determined based on the lowest level input that is significant to the investment. Assessing the significance of a particular input to the valuation of an investment in its entirety requires judgment and considers factors specific to the investment. The categorization of an investment within the hierarchy is based upon the pricing transparency of the investment and does not necessarily correspond to the perceived risk of that investment.
The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid-in capital and accumulated deficit.
The preparation of financial statements in conformity with U.S.
The Company complies with the requirements of the ASC
Stock-Based Compensation Expense
The Company accounts for stock-based compensation expense in accordance with ASC 718, 9 performance condition, with compensation recognized once the event is deemed probable to occur. The fair value of equity awards has been estimated using a market approach. Forfeitures are recognized as incurred.
Net Loss per Ordinary Share
For the three and six months ended June 30, 2022, the three months ended June
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For the Three Months Ended |
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For the Three Months Ended |
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Class A ordinary |
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Founder Shares |
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Class A ordinary |
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Founder Shares |
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Basic and diluted net loss per ordinary share: |
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Numerator: |
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Allocation of net loss |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
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$ |
( |
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Accretion on Class A ordinary shares subject to |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
Denominator: |
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Weighted average ordinary shares outstanding: |
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Basic and diluted net loss per ordinary share |
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$ |
( |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
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For the Six Months Ended |
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For the period from |
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Class A ordinary |
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Founder Shares |
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Class A ordinary |
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Founder Shares |
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Basic and diluted net loss per ordinary share: |
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Numerator: |
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Allocation of net loss |
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$ |
( |
) |
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$ |
( |
) |
|
$ |
( |
) |
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$ |
( |
) |
Accretion on Class A ordinary shares subject to |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
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$ |
( |
) |
Denominator: |
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Weighted average ordinary shares outstanding: |
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Basic and diluted net loss per ordinary share |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
10
ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be
There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with federal income tax regulations, income taxes are not levied on the Company, but rather on the individual owners. United States (
Recent Accounting Pronouncements
In August 2020, the FASB issued ASU 2020-06, Debt
In its Public Offering, the Company sold
At the Close Date, proceeds of $
The Company paid an underwriting discount of
The Founder Shares are identical to the Public Shares sold in the Public Offering except that:
;
;
; and
Additionally, the Sponsor and Initial Shareholders agreed not to transfer, assign or sell (i) any of their Founder Shares until the earlier of (a) Private Placement Shares The Sponsor purchased from the Company Private Placement Shares at a price of $ Forward Purchase Agreements On March 18, 2021, an affiliate of the Company (the On March 18, 2021, the Company also entered into forward purchase agreements (the The proceeds of all purchases made pursuant to the Original Forward Purchase Agreement and Additional Forward Purchase Agreements will be deposited into the Company The terms of the Forward Purchase Shares and Additional Forward Purchase Shares, respectively, Holders of the Founder Shares and Private Placement Shares are entitled to registration rights pursuant to a registration rights agreement signed on the Close Date. The holders of these securities are entitled to make up to three demands that the Company register such securities. In addition, the holders have certain Indemnity The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a vendor (other than the Company Independent Financial Advisory Services In connection with the Public Offering, TPG Capital BD, LLC, an affiliate of the Company, Related Party Note Payable On March 22, 2021, the Sponsor loaned the Company $ On December 8, 2021, the Sponsor loaned the Company $ Administrative Services Agreement On the Close Date, the Company entered into an agreement to pay $ Effective May 26, 2021, Effective October 22, 2021, the Sponsor entered into a commitment letter in which it committed to lending funds, if needed, to the Company to timely satisfy any of the Company
5. Cash Held in Trust Account
At each of
6. Deferred Underwriting Compensation
The Company is committed to pay the Deferred Discount of
Class A Ordinary Shares
The Company is currently authorized to issue
The Company is currently authorized to issue
8. Subsequent Events
Management has performed an evaluation of subsequent events through the date of issuance of the condensed financial statements, noting no subsequent events which require adjustment or disclosure.
Special Note Regarding Forward-Looking Statements
All statements other than statements of historical fact included in this Quarterly Report on Form 10-Q including, without limitation, statements under this
We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (
We intend to consummate a Business Combination using cash from the proceeds of our initial public offering (the
If we do not complete an initial Business Combination within 24 months from the Close Date, we will (i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem all of the Class A ordinary shares issued in the Public Offering at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account with Continental Stock Transfer and Trust Company acting as trustee (the
The condensed financial statements presented in this Quarterly Report on Form 10-Q have been prepared on a going concern basis and do not include any adjustments that might arise as a result of uncertainties about our ability to continue as a going concern.
Results of Operations
For the three months ended
16
associated with our formation. Our business activities since our Public Offering have consisted solely of identifying and evaluating prospective acquisition targets for a Business Combination.
Liquidity and Capital Resources
Prior to the closing of the Public Offering, our only sources of liquidity were an initial sale of Class F ordinary shares (
The registration statement for our Public Offering was declared effective by the SEC on April 13, 2021. In our Public Offering, we sold 40,000,000 Class A ordinary shares at a price of $10.00 per share, generating proceeds of $400,000,000, including the issuance of 5,000,000 Class A ordinary shares as a result of the underwriters
On the Close Date, we placed On December 8, 2021, our Sponsor loaned us $2,000,000 under an unsecured non-interest bearing promissory note to fund ongoing operational needs. Starting January 2022, the funds in the Trust Account may be invested only in specified U.S. government treasury bills with a maturity of 180 days or less and in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations (collectively We do not believe we will need to raise additional funds in order to meet the expenditures required for operating our business prior to our Business Combination. However, if our estimates of the costs of identifying a target business, undertaking We have 24 17 We intend to use to use substantially all of the funds held in the Trust Account, including earned interest (which interest shall be net of taxes payable) to consummate a Business Combination. To the extent that our capital stock or debt is used, in whole or in part, as consideration to consummate a Business Combination, the remaining proceeds held in the Trust Account after completion of the Business Combination and redemptions of Class A ordinary shares, if any, will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategy. Off-Balance Sheet Financing Arrangements We have no obligations, assets or liabilities which would be considered off-balance sheet arrangements. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or entered into any non-financial agreements involving assets. Contractual Obligations
Critical Accounting Policies The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. We have identified the following as our critical accounting policies: Redeemable Ordinary Shares We recognize changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid-in capital and accumulated deficit. We comply with the requirements of Net Loss Per Ordinary Share We comply with accounting and disclosure requirements of Financial Accounting Standards Board ASC Topic 260,
18 upon the occurrence of future events. As a result, diluted net loss per ordinary share is the same as basic net loss per ordinary share for the periods presented. As of Recent Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt To date, our efforts have been limited to organizational activities and activities relating to the Public Offering and the identification and evaluation of prospective acquisition targets for a Business Combination. We have neither engaged in any operations nor generated any revenues. As the net proceeds from our Public Offering and the sale of the Private Placement Shares held in the Trust Account have not been invested, we do not believe there will be any material exposure to interest rate risk. We have not engaged in any hedging activities since our Inception. We do not expect to engage in any hedging activities with respect to the market risk to which we are exposed. Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended (the As required by Rules 13a-15 and 15d-15 under the Exchange Act, our President and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of There were no Factors that could cause our actual results to differ materially from those in this report are any of the risks disclosed in our Annual Report on Form 10-K, which was filed with the SEC on February 17, 2022. Any of these factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations. The information presented below updates, and should be read in conjunction with, the risk factors disclosed in our Annual Report on Form 10-K, which was filed with the SEC on February 17, 2022. Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our Business Combination and results of operations. We are subject to laws and regulations enacted by national, regional and local governments. In particular, we are required to comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may be difficult, time consuming and costly. Those laws and regulations and their interpretation and application may also change from time to time and those changes could have a material adverse effect on the business, investments and results of our operations. In addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect on our business, including our ability to negotiate and complete our Business Combination and results of operations. On March 30, 2022, the SEC issued proposed rules (the We do not intend to invest the proceeds held in the Trust Account in interest-bearing securities, which will limit the funds available for payment of taxes and dissolution expenses or for distribution to public shareholders. We recently determined that we will hold the net proceeds of the Public Offering and certain proceeds from the sale of the Private Placement Shares, in the amount of $400,000,000, in a non-interest-bearing Trust Account. While we expected to invest the funds in the Trust Account in U.S. government treasury bills with a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations beginning in January 2022, we have determined to hold such proceeds in a non-interest-bearing Trust Account. Accordingly, the amount of funds will not increase, which will limit the funds available for payment of taxes and dissolution expenses or for distribution to public shareholders. If we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may make it difficult for us to complete our Business Combination. If we are deemed to be an investment company under the Investment Company Act, our activities may be restricted, including: • In addition, we may have imposed upon us burdensome requirements, including: • In order not to be regulated as an investment company under the Investment Company Act, unless we can qualify for an exclusion, we must ensure that we are engaged primarily in a business other than investing, reinvesting or trading of securities and that our activities do not include investing, reinvesting, owning, holding or trading The 2022 Proposed Rule under the Investment Company Act would provide a safe harbor for SPACs from the definition of We do not believe that our principal activities currently make us an investment company subject to the Investment Company Act. The proceeds held in the Trust Account have not been invested by the trustee Our search for a Business Combination, and any target business with which we may ultimately consummate a Business Combination, may be materially adversely affected by the geopolitical conditions resulting from the recent invasion of United States and global markets are experiencing volatility and disruption following the escalation of geopolitical tensions and the recent invasion of on regional and global economies. Although the length and impact of the ongoing military conflict in 21 Any of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of In addition, the recent invasion of
Item 3. Defaults Upon Senior Securities. Item 6. Exhibits. The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q. Exhibit Number Description 3.1* 31.1** 31.2** 32.1*** 32.2*** 101.INS** Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document 101.SCH** Inline XBRL Taxonomy Extension Schema Document 101.CAL** Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF** Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB** Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE** Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
* Incorporated herein by reference as indicated. *
* Filed herewith. |
*
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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TPG PACE BENEFICIAL II CORP. |
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Date: August 2, 2022 |
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By: |
/s/ Karl Peterson |
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Karl Peterson |
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Non-Executive Chairman and Director |
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Date: August 2, 2022 |
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By: |
/s/ Martin Davidson |
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Martin Davidson |
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Chief Financial Officer (Principal Financial and Accounting Officer) |
CERTIFICATION PURSUANT TO
RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Michael MacDougall, certify that:
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have: |
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) |
[Omitted];
(c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: August 2, 2022 |
|
By: |
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/s/ Michael MacDougall |
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Michael MacDougall |
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President (Principal Executive Officer) |
CERTIFICATION PURSUANT TO
RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Martin Davidson, certify that:
1.
I have reviewed this Quarterly Report on Form 10-Q of TPG Pace Beneficial II Corp.;
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) |
[Omitted];
(c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: August 2, 2022 |
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By: |
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/s/ Martin Davidson |
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Martin Davidson |
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Chief Financial Officer (Principal Financial and Accounting Officer) |
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of TPG Pace Beneficial II Corp. (the
(1)
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
Date: August 2, 2022 |
|
By: |
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/s/ Michael MacDougall |
|
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Michael MacDougall |
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President (Principal Executive Officer) |
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of TPG Pace Beneficial II Corp. (the
(1)
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
Date: August 2, 2022 |
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By: |
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/s/ Martin Davidson |
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Martin Davidson |
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Chief Financial Officer (Principal Financial and Accounting Officer) |