$FRGE
Forge Global Holdings, Inc.

2021 Q4 Form 10-K Financial Statement

#000110465922034190 Filed on March 16, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $3.034M $3.034M
YoY Change -21.97%
Gross Profit $125.0M $125.0M
YoY Change 161.79%
Gross Profit Margin
Selling, General & Admin $2.168M $6.829M
YoY Change 19411.57%
% of Gross Profit 1.73% 5.46%
Research & Development $8.243M
YoY Change 78.57%
% of Gross Profit 6.59%
Depreciation & Amortization $5.390M $5.390M
YoY Change 124.02%
% of Gross Profit 4.31% 4.31%
Operating Expenses $2.168M $6.829M
YoY Change 19411.57%
Operating Profit $122.9M -$6.829M -$35.00K
YoY Change -351072.37% -114.31%
Interest Expense $4.864M $16.19M
YoY Change -252.21%
% of Operating Profit 3.96%
Other Income/Expense, Net -$6.017M -$6.017M
YoY Change 1120.49%
Pretax Income $2.696M $9.364M
YoY Change -179.36%
Income Tax $386.0K $386.0K
% Of Pretax Income 14.32% 4.12%
Net Earnings $2.696M $9.364M -$11.80M
YoY Change -122.85% -179.36%
Net Earnings / Revenue
Basic Earnings Per Share -$0.34
Diluted Earnings Per Share $52.09K $180.9K
COMMON SHARES
Basic Shares Outstanding 54.30M shares
Diluted Shares Outstanding 54.30M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $254.7K $254.7K
YoY Change -84.79%
Cash & Equivalents $74.78M $74.78M $1.675M
Short-Term Investments
Other Short-Term Assets $1.986M $274.2K
YoY Change -57.92%
Inventory
Prepaid Expenses $3.162M $651.6K
Receivables $5.380M $5.380M
Other Receivables $1.153M $1.153M
Total Short-Term Assets $88.09M $529.0K $2.326M
YoY Change 3686.56% -77.26%
LONG-TERM ASSETS
Property, Plant & Equipment $497.0K $8.378M
YoY Change -15.2%
Goodwill
YoY Change
Intangibles $16.83M
YoY Change
Long-Term Investments $414.1M $414.1M
YoY Change 0.02%
Other Assets $7.514M $20.97M
YoY Change 37.19%
Total Long-Term Assets $169.8M $414.1M $414.0M
YoY Change -58.99% 0.02%
TOTAL ASSETS
Total Short-Term Assets $88.09M $529.0K $2.326M
Total Long-Term Assets $169.8M $414.1M $414.0M
Total Assets $257.9M $414.6M $416.3M
YoY Change -38.06% -0.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.920M $4.359M $961.00
YoY Change 199691.88% 453932.29%
Accrued Expenses $8.343M $1.090M
YoY Change 162.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $38.02M $5.448M $416.5K
YoY Change 9028.71% 1208.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $38.92M
YoY Change -29.26%
Total Long-Term Liabilities $0.00 $38.92M
YoY Change -29.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.02M $5.448M $416.5K
Total Long-Term Liabilities $0.00 $38.92M
Total Liabilities $64.48M $44.37M $55.44M
YoY Change 16.31% -19.97%
SHAREHOLDERS EQUITY
Retained Earnings -$78.56M -$53.09M
YoY Change 47.96%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$52.64M $370.3M -$7.499M
YoY Change
Total Liabilities & Shareholders Equity $257.9M $414.6M $416.3M
YoY Change -38.06% -0.41%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $2.696M $9.364M -$11.80M
YoY Change -122.85% -179.36%
Depreciation, Depletion And Amortization $5.390M $5.390M
YoY Change 124.02%
Cash From Operating Activities -$459.9K -$1.420M -$680.1K
YoY Change -32.38% 108.78%
INVESTING ACTIVITIES
Capital Expenditures -$3.256M -$3.256M
YoY Change 180.21%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 -$414.0M
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.58M 0.000 416.4M
YoY Change -93.62% -100.0%
NET CHANGE
Cash From Operating Activities -459.9K -1.420M -680.1K
Cash From Investing Activities 0.000 0.000 -414.0M
Cash From Financing Activities 26.58M 0.000 416.4M
Net Change In Cash -459.9K -1.420M 1.675M
YoY Change -127.46% -184.79%
FREE CASH FLOW
Cash From Operating Activities -$459.9K -$1.420M -$680.1K
Capital Expenditures -$3.256M -$3.256M
Free Cash Flow $2.796M $1.836M
YoY Change 281.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021 dei Entity Central Index Key
EntityCentralIndexKey
0001827821
CY2021 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2021 dei Amendment Flag
AmendmentFlag
false
CY2021 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
CY2021 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2021 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2021 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2021 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021 motv Threshold Period For Filling Registration Statement After Business Combination
ThresholdPeriodForFillingRegistrationStatementAfterBusinessCombination
P15D
CY2021 dei Document Type
DocumentType
10-K
CY2021 dei Document Annual Report
DocumentAnnualReport
true
CY2021 dei Document Period End Date
DocumentPeriodEndDate
2021-12-31
CY2021 dei Document Transition Report
DocumentTransitionReport
false
CY2021 dei Entity File Number
EntityFileNumber
001-39794
CY2021 dei Entity Registrant Name
EntityRegistrantName
MOTIVE CAPITAL CORP
CY2021 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-1561111
CY2021 dei Entity Address Address Line1
EntityAddressAddressLine1
7 World Trade Center, 250 Greenwich St., FL 47
CY2021 dei Entity Address City Or Town
EntityAddressCityOrTown
New York
CY2021 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2021 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10007
CY2021 dei City Area Code
CityAreaCode
212
CY2021 dei Local Phone Number
LocalPhoneNumber
651-0200
CY2021 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021 dei Entity Small Business
EntitySmallBusiness
true
CY2021 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2021 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2021 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2021 dei Entity Shell Company
EntityShellCompany
true
CY2021Q2 dei Entity Public Float
EntityPublicFloat
404478000
CY2021 dei Auditor Name
AuditorName
WithumSmith+Brown
CY2021 dei Auditor Location
AuditorLocation
New York
CY2021 dei Auditor Firm
AuditorFirmId
100
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
254726
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1674650
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
274234
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
651605
CY2021Q4 us-gaap Assets Current
AssetsCurrent
528960
CY2020Q4 us-gaap Assets Current
AssetsCurrent
2326255
CY2021Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
414111439
CY2020Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
414020525
CY2021Q4 us-gaap Assets
Assets
414640399
CY2020Q4 us-gaap Assets
Assets
416346780
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
4358705
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
961
CY2021Q4 motv Accrued Liabilities Excluding Offering Costs Current
AccruedLiabilitiesExcludingOfferingCostsCurrent
1089571
CY2020Q4 motv Accrued Liabilities Excluding Offering Costs Current
AccruedLiabilitiesExcludingOfferingCostsCurrent
415560
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
5448276
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
416521
CY2021Q4 motv Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
14490000
CY2020Q4 motv Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
14490000
CY2021Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
24430400
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
40532280
CY2021Q4 us-gaap Liabilities
Liabilities
44368676
CY2020Q4 us-gaap Liabilities
Liabilities
55438801
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-43729312
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-53093056
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-43728277
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-53092021
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
414640399
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
416346780
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6829050
CY2020Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35004
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-6829050
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-35004
CY2020Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000
CY2020Q4 motv Adjustments To Additional Paid In Capital Cash Received In Excess Of Initial Fair Value Of Warrants
AdjustmentsToAdditionalPaidInCapitalCashReceivedInExcessOfInitialFairValueOfWarrants
-664800
CY2020Q4 motv Common Stock Subject To Possible Redemption Value
CommonStockSubjectToPossibleRedemptionValue
41982192
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-16101880
CY2020Q4 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
10659080
CY2020Q4 motv Derivative Warrant Liabilities Transaction Costs
DerivativeWarrantLiabilitiesTransactionCosts
1126070
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
90914
CY2020Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
20525
CY2021 us-gaap Net Income Loss
NetIncomeLoss
9363744
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-11799629
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-53092021
CY2021 us-gaap Profit Loss
ProfitLoss
9363744
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-43728277
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
0
CY2020Q4 us-gaap Profit Loss
ProfitLoss
-11799629
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-53092021
CY2021 us-gaap Profit Loss
ProfitLoss
9363744
CY2020Q4 us-gaap Profit Loss
ProfitLoss
-11799629
CY2020Q4 motv Derivative Warrant Liabilities Transaction Costs
DerivativeWarrantLiabilitiesTransactionCosts
1126070
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-16101880
CY2020Q4 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
10659080
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
90914
CY2020Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
20525
CY2021 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-377371
CY2020Q4 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
651605
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4357744
CY2020Q4 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
961
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
674011
CY2020Q4 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5560
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1419924
CY2020Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-680088
CY2020Q4 motv Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
414000000
CY2020Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-414000000
CY2020Q4 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
130492
CY2020Q4 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
414000000
CY2020Q4 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
8619770
CY2020Q4 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
11080000
CY2020Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000
CY2020Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
416354738
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1419924
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1674650
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1674650
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
254726
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1674650
CY2020Q4 motv Deferred Underwriting Commissions Charged To Additional Paid In Capital In Connection With Ipo
DeferredUnderwritingCommissionsChargedToAdditionalPaidInCapitalInConnectionWithIpo
14490000
CY2020Q4 motv Offering Costs Included In Accounts Payable Accrued Expenses
OfferingCostsIncludedInAccountsPayableAccruedExpenses
410000
CY2020Q4 motv Offering Costs Charged To Additional Paid In Capital In Connection With Ipo
OfferingCostsChargedToAdditionalPaidInCapitalInConnectionWithIpo
880262
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">NOTE 1.    DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-style:normal;font-weight:bold;">Note 1—Description of Organization and Business Operations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Motive Capital Corp (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on September 28, 2020 under the name of MCF2 Acquisition Corp. On November 5, 2020 the Company’s name was changed to Motive Capital Corp. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (a “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">As of December 31, 2021, the Company had not commenced any operations. Our entire activity from September 28, 2020 (inception) through December 31, 2021, was in preparation for an Initial Public Offering, and since our Initial Public Offering, our activity has been limited to the search and due diligence for a prospective initial Business Combination. The Company will not generate any operating revenues until after completion of its Initial Business Combination, at the earliest. The Company generates non-operating gain or loss from the change in fair value of derivative liabilities and non-operating income in the form of interest income, gain on marketable securities, and dividends from the proceeds of its Initial Public Offering and Private Placement described below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The registration statement for the company’s Initial Public Offering was declared effective on December 10, 2020. On December 15, 2020, the Company consummated the Initial Public Offering of 41,400,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public Shares”) which includes the full exercise by the underwriter of its over-allotment option in the amount of 5,400,000 Units, at $10.00 per Unit, generating gross proceeds of $414,000,000.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 7,386,667 warrants (the “Private Placement Warrants”) at a price of $1.50 per Private Placement Warrant in a private placement to Motive Capital Funds Sponsor, LLC (the “Sponsor”), generating gross proceeds of $11,080,000. Transaction costs amounted to $23,650,262, consisting of $8,280,000 of underwriting fees, $14,490,000 of deferred underwriting fees and approximately $900,000 of other offering costs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Following the closing of the Initial Public Offering on December 15, 2020, an amount of $414,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”), and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earliest of: (i) the completion of a Business Combination and (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. The stock exchange listing rules require that the Business Combination must be with one or more operating businesses or assets with a fair market value equal to at least 80% of the assets held in the Trust Account (excluding the amount of any deferred underwriting discount held in the Trust Account). The Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the issued and outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to successfully effect a Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Company will provide the holders of the public shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their public shares upon the completion of the Business Combination, either (i) in connection with a general meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares, equal to the aggregate amount then on deposit in the Trust Account, calculated as of two business days prior to the consummation of the Business Combination (initially anticipated to be $10.00 per Public Share), including interest (which interest shall be net of taxes payable), divided by the number of then issued and outstanding </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">public shares, subject to certain limitations as described in the prospectus. The per-share amount to be distributed to the Public Shareholders who properly redeem their shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 6). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Public Shares are classified as temporary equity in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity” (“ASC 480”). The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 and, if the Company seeks shareholder approval, it receives an ordinary resolution under Cayman Islands law approving a Business Combination, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the Company. If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, conduct the redemptions pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each Public Shareholder may elect to redeem their Public Shares, without voting, and if they do vote, irrespective of whether they vote for or against a proposed Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Notwithstanding the foregoing, if the Company seeks shareholder approval of the Business Combination and the Company does not conduct redemptions pursuant to the tender offer rules, a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the Public Shares without the Company’s prior written consent.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Sponsor has agreed (a) to waive its redemption rights with respect to any Founder Shares and Public Shares held by it in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Memorandum and Articles of Association (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity, unless the Company provides the Public Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the Trust Account and not previously released to pay taxes, divided by the number of then issued and outstanding Public Shares.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company will have until December 15, 2022 to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned and not previously released to us to pay our taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding Public Shares, which redemption will completely extinguish the rights of the Public Shareholders as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining Public Shareholders and its Board of Directors, liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Sponsor has agreed to waive its rights to liquidating distributions from the Trust Account with respect to the Founder Shares it will receive if the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor or any of its respective affiliates acquire Public Shares, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. The underwriters have agreed to waive their rights to their deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period, and in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">In order to protect the amounts held in the Trust Account, the Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party (other than the Company’s independent registered public accounting firm) for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below the lesser of (1) $10.00 per Public Share and (2) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per Public Share, due to reductions in the value of trust assets, in each case net of the interest that may be withdrawn to pay taxes. This liability will not apply to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and as to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (other than the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Proposed Business Combination</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">On September 13, 2021, the Company entered into an Agreement and Plan of Merger (as it may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and among the Company, FGI Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of the Company (“Merger Sub”), and Forge Global, Inc., a Delaware corporation (“Forge”).  The Merger Agreement provides for, among other things, the following transactions: (i) the Company will change its jurisdiction of incorporation by transferring by way of continuation from the Cayman Islands and domesticating as a corporation incorporated under the laws of the State of Delaware (the “Domestication”), and, in connection with the Domestication, (A) each outstanding Class A ordinary share of the Company will convert automatically into one share of common stock, par value $0.0001 per share (the “Domesticated Company Common Stock”), (B) each outstanding Class B ordinary share of the Company will convert automatically into one share of Domesticated Company Common Stock, (C) each outstanding warrant to purchase one Class A ordinary share at an exercise price of $11.50 that was included in the Units sold as part of Company’s initial public offering (a “Public Warrant”) will convert automatically, on a one-for-one basis, into a warrant to acquire one share of Domesticated Company Common Stock (“Domesticated Company Public Warrant”), (D) each outstanding Private Placement Warrant issued to the Sponsor will convert automatically, on a one-for-one basis, into a warrant to acquire one share of Domesticated Company Common Stock and (E) each outstanding Unit of the Company, to the extent not already split by the holder thereof, convert automatically, into one share of Domesticated Company Common Stock and <span style="-sec-ix-hidden:Hidden_GcVsXUMVTEOVqbT96r-eOQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">one-third</span></span> of one Domesticated Company Public Warrant; and (ii) immediately following the Domestication, Merger Sub will merge with and into Forge, with Forge surviving as a wholly owned subsidiary of the Company (the “Merger”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Subject to the terms and conditions set forth in the Merger Agreement, in consideration of the Merger, each outstanding share of Forge’s capital stock (excluding shares owned by the Company or by Forge as treasury stock or dissenting shares) (i) if vested, will be canceled and converted into the right to receive either cash or Domesticated Company Common Stock, or a combination thereof, equal to the Per-Share Merger Consideration, which mix of cash and stock shall correspond to that elected by each of holder of Forge vested shares; provided, that in no event shall a holder of Forge vested shares be permitted to elect greater than fifteen percent (15%) cash and in no event will the aggregate amount of cash payable to all holders of vested Forge shares exceed $100 million and (ii) if unvested, will be canceled and converted into the right to receive a number of shares of unvested Domesticated Company Common Stock (subject to the same terms and conditions, including with respect to vesting, as the unvested share of Forge’s capital stock) equal to (A) the Securities Merger Consideration multiplied by (B) the Exchange Ratio. The total consideration paid to holders of Forge’s outstanding equity securities will include shares of Domesticated Company Common Stock and options and warrants to </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">acquire shares of Domesticated Company Common Stock, having an aggregate value equal to $1.5 billion, less the amount of any cash consideration payable to holders of vested Forge shares, consisting of (assuming the maximum amount of cash consideration) an aggregate of 140 million newly issued shares of Domesticated Company Common Stock and options and warrants to acquire shares of Domesticated Company Common Stock, in each case, with a deemed value of $10.00 per share solely for purposes of determining the aggregate number of shares payable to holders of Forge capital stock. As a result, at the closing of the Merger and the other transactions contemplated by the Merger Agreement (the “Closing”), (i) each outstanding option to purchase Forge capital stock, whether vested or unvested, will be assumed and converted into an option with respect to a number of shares of Domesticated Company Common Stock in the manner set forth in the Merger Agreement and (ii) each outstanding warrant to purchase Forge capital stock, whether or not exercisable, will be assumed and converted into a warrant with respect to a number of shares of Domesticated Company Common Stock in the manner set forth in the Merger Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Concurrent with the execution of the Merger Agreement, the Company entered into that certain Sponsor Support Agreement (the “Sponsor Agreement”) with the Sponsor, Forge and other holders of Company’s Class B ordinary shares pursuant to which the Sponsor and such holders of Class B ordinary shares have agreed to (i) vote all shares of the Company they own in favor of the transactions contemplated by the Merger Agreement, (ii) waive certain anti-dilution rights with respect to their Class B ordinary shares, and (iii) agree to certain lock-up provisions. Concurrent with the execution of the Merger Agreement, the Company entered into that certain Stockholder Support Agreement (the “Stockholder Support Agreement”) with Forge and certain Forge shareholders (the “Supporting Shareholders”) pursuant to which the Supporting Shareholders agreed to vote in favor of the Merger and the transactions contemplated.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Concurrent with the execution of the Merger Agreement, the Company amended and restated that certain Forward Purchase Agreement, dated as of November 24, 2020, by and between the Company, the Sponsor and certain affiliates of the Sponsor (the “Purchasers”; and such agreement the “A&amp;R Forward Purchase Agreement”). Pursuant to the A&amp;R Forward Purchase Agreement, subject to the fulfillment of certain conditions, the Purchasers will collectively purchase concurrently with the Closing, at a per-unit price of $10.00, 5,000,000 Forward Purchase Units, each composed of one share of Domesticated Company Common Stock and one-third of one Domesticated Company Public Warrant (a “Forward Purchase Unit”) , and up to an additional 9,000,000 Forward Purchase Units to the extent of redemptions on a dollar-for-dollar basis by Company shareholders of all or a portion of their Class A ordinary shares. For the avoidance of doubt, regardless of the extent of such redemptions, the Purchasers will in no event be required to purchase more than an aggregate amount of 14,000,000 Forward Purchase Units.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Merger Agreement contemplates that, at the Closing, the Company, the Sponsor, and certain Company and Forge stockholders will enter into a registration rights agreement pursuant to which, among other things, the Company will agree to undertake certain customary registration obligations in accordance with the Securities Act and certain subsequent related transactions and obligations. Pursuant to the Registration Rights Agreement, the Company will agree that, within <span style="-sec-ix-hidden:Hidden_74OTfFrbREy7rflCwooyQw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">30</span></span> calendar days after the Closing, the Company will file with the SEC a registration statement registering the resale of certain securities held by or issuable to the stockholders party thereto, and use its reasonable best efforts to have such registration statement declared effective by the SEC as soon as practicable thereafter.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Concurrent with the execution of the Merger Agreement, the Company entered into subscription agreements (each, a “Subscription Agreement”) with certain investors (the “PIPE Investors”) pursuant to which, among other things, the PIPE Investors have agreed to subscribe for and purchase, and the Company has agreed to issue and sell to the PIPE Investors an aggregate of 6.85 million shares of Domesticated Company Common Stock, at a per share price of $10.00 for an aggregate purchase price of $68,500,000, concurrent with the Closing, on the terms and subject to the conditions set forth therein (the “PIPE Financing”). The Subscription Agreement contains customary representations and warranties of the Company, on the one hand, and each PIPE Investor, on the other hand, and customary conditions to closing, including the consummation of the transactions contemplated by the Merger Agreement. Each Subscription Agreement provides that the Company will grant the PIPE Investors certain customary registration rights.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Principles of Consolidation</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The consolidated financial statements of the Company include its wholly-owned subsidiary created in connection with the Proposed Business Combination. All inter-company accounts and transactions are eliminated in consolidation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Liquidity and Going Concern</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of December 31, 2021, the Company had approximately $255,000 in the operating bank accounts, a working capital deficit of approximately $4.9 million and approximately $91,000 of interest income available in the Trust Account to pay for the Company’s tax obligations, if any.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the officers and directors may, but are not obligated to, loan us funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company will repay the Working Capital Loans out of the proceeds of the Trust Account released to us. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post-Business Combination entity at a price of $1.50 per warrant. The warrants would be identical to the Private Placement Warrants. As of December 31, 2021 and 2020, the Company had no outstanding borrowings under the Working Capital Loans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Based on the foregoing, including the ability of the Company to draw upon the Working Capital Loans, Management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of the Business Combination or the date the Company is required to liquidate. Over this time period, the Company will be using the working capital funds for paying existing accounts payable, paying for travel expenditures, and structuring, negotiating and consummating the Initial Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">In connection with the Company's assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financial Statements – Going Concern,” the Company has until December 15, 2022 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by this time. If a Business Combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of the Company. Management has determined that the liquidity condition and mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company's ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after December 15, 2022. However, in order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may loan the Company funds as may be required (“Working Capital Loans”). Based on the foregoing, including the ability of the Company to draw upon the Working Capital Loans, Management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs through the consummation of the Business Combination, which the Company intends to complete by December 15, 2022.</p>
CY2021 motv Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1
CY2020Q4 motv Transaction Costs
TransactionCosts
23650262
CY2020Q4 motv Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
8280000
CY2020Q4 motv Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
14490000
CY2020Q4 motv Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
900000
CY2020Q4 motv Threshold Minimum Aggregate Fair Market Value As Percentage Of Net Assets Held In Trust Account
ThresholdMinimumAggregateFairMarketValueAsPercentageOfNetAssetsHeldInTrustAccount
0.80
CY2020Q4 motv Threshold Percentage Of Outstanding Voting Securities Of Target To Be Acquired By Post Transaction Company To Complete Business Combination
ThresholdPercentageOfOutstandingVotingSecuritiesOfTargetToBeAcquiredByPostTransactionCompanyToCompleteBusinessCombination
0.50
CY2020Q4 motv Condition For Future Business Combination Threshold Net Tangible Assets
ConditionForFutureBusinessCombinationThresholdNetTangibleAssets
5000001
CY2020Q4 motv Redemption Limit Percentage Without Prior Consent
RedemptionLimitPercentageWithoutPriorConsent
15
CY2020Q4 motv Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1
CY2021 motv Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1
CY2021 motv Maximum Allowed Dissolution Expenses
MaximumAllowedDissolutionExpenses
100000
CY2021 motv Working Capital
WorkingCapital
4900000
CY2021Q4 motv Interest Income Available In Trust Account
InterestIncomeAvailableInTrustAccount
91000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p>
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><i style="font-weight:normal;">Concentration of Credit Risk</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">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 Depository Insurance Corporation coverage limit of $250,000 and investments held in Trust Account. As of December 31, 2021 and 2020, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
CY2021Q4 motv Federal Depository Insurance Coverage
FederalDepositoryInsuranceCoverage
250000
CY2021 motv Forward Purchase Per Unit
ForwardPurchasePerUnit
10.00
CY2021 motv Forward Purchase Per Unit
ForwardPurchasePerUnit
10.00
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2021 motv Threshold Period For Not To Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination
ThresholdPeriodForNotToTransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombination
P30D
CY2021 motv Forward Purchase Per Unit
ForwardPurchasePerUnit
10.00
CY2021Q4 motv Maximum Number Of Demands For Registration Of Securities
MaximumNumberOfDemandsForRegistrationOfSecurities
3
CY2021 motv Underwriting Cash Discount Per Unit
UnderwritingCashDiscountPerUnit
0.35
CY2021 motv Aggregate Underwriter Cash Discount
AggregateUnderwriterCashDiscount
14490000
CY2021Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2021Q4 motv Threshold Issue Price For Capital Raising Purposes In Connection With Closing Of Business Combination
ThresholdIssuePriceForCapitalRaisingPurposesInConnectionWithClosingOfBusinessCombination
9.20
CY2021 motv Percentage Of Gross Proceeds On Total Equity Proceeds
PercentageOfGrossProceedsOnTotalEquityProceeds
0.60
CY2021 motv Threshold Trading Days For Calculating Market Value
ThresholdTradingDaysForCalculatingMarketValue
20
CY2021Q4 motv Threshold Issue Price For Capital Raising Purposes In Connection With Closing Of Business Combination
ThresholdIssuePriceForCapitalRaisingPurposesInConnectionWithClosingOfBusinessCombination
9.20
CY2021 motv Class Of Warrant Or Right Adjustment Of Exercise Price Of Warrants Or Rights Percent Based On Market Value And Newly Issued Price
ClassOfWarrantOrRightAdjustmentOfExercisePriceOfWarrantsOrRightsPercentBasedOnMarketValueAndNewlyIssuedPrice
1.15
CY2021 motv Class Of Warrant Or Right Adjustment Of Redemption Price Of Warrants Or Rights Percent Based On Market Value And Newly Issued Price1
ClassOfWarrantOrRightAdjustmentOfRedemptionPriceOfWarrantsOrRightsPercentBasedOnMarketValueAndNewlyIssuedPrice1
1
CY2021 motv Class Of Warrant Or Right Adjustment Of Redemption Price Of Warrants Or Rights Percent Based On Market Value And Newly Issued Price2
ClassOfWarrantOrRightAdjustmentOfRedemptionPriceOfWarrantsOrRightsPercentBasedOnMarketValueAndNewlyIssuedPrice2
1.80
CY2021 motv Forward Purchase Shares
ForwardPurchaseShares
5000000
CY2021 motv Agreement Number Of Maximum Additional Units Can Be Sold
AgreementNumberOfMaximumAdditionalUnitsCanBeSold
9000000
CY2021 motv Forward Purchase Amount
ForwardPurchaseAmount
14000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021 motv Automatic Conversion Upon Business Combination Ratio Percentage
AutomaticConversionUponBusinessCombinationRatioPercentage
0.20
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
40532280
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
24430400
CY2021Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
414111439
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
24430400
CY2020Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
414020525
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
40532280
CY2021 motv Forward Purchase Per Unit
ForwardPurchasePerUnit
10.00
CY2021 motv Warrant Redemption Condition Minimum Share Price
WarrantRedemptionConditionMinimumSharePrice
18.00
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-16100000
CY2020Q4 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
10700000

Files In Submission

Name View Source Status
0001104659-22-034190-index-headers.html Edgar Link pending
0001104659-22-034190-index.html Edgar Link pending
0001104659-22-034190.txt Edgar Link pending
0001104659-22-034190-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
motv-20211231.xsd Edgar Link pending
motv-20211231x10k.htm Edgar Link pending
motv-20211231x10k_htm.xml Edgar Link completed
motv-20211231xex31d1.htm Edgar Link pending
motv-20211231xex31d2.htm Edgar Link pending
motv-20211231xex32d1.htm Edgar Link pending
motv-20211231xex32d2.htm Edgar Link pending
motv-20211231_cal.xml Edgar Link unprocessable
motv-20211231_def.xml Edgar Link unprocessable
motv-20211231_lab.xml Edgar Link unprocessable
motv-20211231_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending