2022 Q3 Form 10-Q Financial Statement
#000121390022047404 Filed on August 12, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | $6.284M | $1.529M | $1.144M |
YoY Change | |||
Gross Profit | $19.83M | -$1.529M | -$1.144M |
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $41.37M | $14.34M | $10.91M |
YoY Change | |||
% of Gross Profit | 208.62% | ||
Research & Development | $6.457M | $2.589M | $2.631M |
YoY Change | |||
% of Gross Profit | 32.56% | ||
Depreciation & Amortization | $2.926M | $20.00K | $944.0K |
YoY Change | |||
% of Gross Profit | 14.75% | ||
Operating Expenses | $657.8K | $1.434M | $320.4K |
YoY Change | 132.13% | 733.12% | 94.01% |
Operating Profit | -$657.7K | -$1.434M | -$8.806M |
YoY Change | 132.14% | 733.12% | |
Interest Expense | $1.155K | $8.280K | -$5.510K |
YoY Change | -35.47% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $68.40K | $2.800M | -$480.3K |
YoY Change | -105.88% | -4193.04% | -131.92% |
Pretax Income | -$131.4K | $1.561M | -$806.2K |
YoY Change | -90.9% | -767.86% | -160.67% |
Income Tax | -$36.00K | -$28.00K | $3.000K |
% Of Pretax Income | -1.79% | ||
Net Earnings | -$131.4K | $1.561M | -$806.2K |
YoY Change | -90.9% | -767.86% | -160.67% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.01 | $0.09 | -$0.07 |
Diluted Earnings Per Share | -$0.01 | $0.09 | -$46.74K |
COMMON SHARES | |||
Basic Shares Outstanding | 13.18M shares | 17.21M shares | 133.0M |
Diluted Shares Outstanding | 13.18M shares | 17.21M shares | 133.0M |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $34.96K | $351.3K | $127.4K |
YoY Change | -69.77% | 36.35% | -59.53% |
Cash & Equivalents | $34.96K | $351.3K | $33.57M |
Short-Term Investments | |||
Other Short-Term Assets | $130.8K | $261.6K | $396.9K |
YoY Change | 12.23% | 11.61% | 14.58% |
Inventory | $933.0K | ||
Prepaid Expenses | $130.8K | $261.6K | |
Receivables | $17.47M | ||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $165.7K | $612.8K | $524.3K |
YoY Change | -28.61% | 24.57% | -20.71% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.053M | ||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $101.3M | $141.7M | $140.4M |
YoY Change | -27.34% | 1.64% | 0.75% |
Total Long-Term Assets | $101.3M | $141.7M | $140.4M |
YoY Change | -27.34% | 1.64% | 0.75% |
TOTAL ASSETS | |||
Total Short-Term Assets | $165.7K | $612.8K | $524.3K |
Total Long-Term Assets | $101.3M | $141.7M | $140.4M |
Total Assets | $101.5M | $142.3M | $141.0M |
YoY Change | -27.34% | 1.72% | 0.65% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $809.3K | $598.7K | $41.00K |
YoY Change | 1757.45% | ||
Accrued Expenses | $26.01M | ||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | |||
Total Short-Term Liabilities | $809.3K | $598.6K | $41.00K |
YoY Change | 1757.45% | 2888.75% | 138.23% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $11.05M | ||
YoY Change | 25.4% | ||
Total Long-Term Liabilities | $0.00 | $0.00 | $11.05M |
YoY Change | -100.0% | -100.0% | 25.4% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $809.3K | $598.6K | $41.00K |
Total Long-Term Liabilities | $0.00 | $0.00 | $11.05M |
Total Liabilities | $12.17M | $52.88M | $11.10M |
YoY Change | 20.6% | 493.89% | 25.62% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$12.00M | -$10.77M | |
YoY Change | |||
Common Stock | $345.00 | $345.00 | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$12.00M | -$10.76M | -$10.54M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $101.5M | $142.3M | $141.0M |
YoY Change | -27.34% | 1.72% | 0.65% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$131.4K | $1.561M | -$806.2K |
YoY Change | -90.9% | -767.86% | -160.67% |
Depreciation, Depletion And Amortization | $2.926M | $20.00K | $944.0K |
YoY Change | |||
Cash From Operating Activities | -$316.3K | -$741.2K | -$880.5K |
YoY Change | 122.78% | 1193.49% | 78.12% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $2.067M | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $40.85M | -$1.035M | -$1.035M |
YoY Change | -99.26% | ||
Cash From Investing Activities | $40.85M | -$1.035M | -$1.035M |
YoY Change | -99.26% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -40.85M | 2.000M | 1.535M |
YoY Change | -98.9% | ||
NET CHANGE | |||
Cash From Operating Activities | -316.3K | -741.2K | -880.5K |
Cash From Investing Activities | 40.85M | -1.035M | -1.035M |
Cash From Financing Activities | -40.85M | 2.000M | 1.535M |
Net Change In Cash | -316.3K | 223.8K | -380.5K |
YoY Change | 122.78% | -490.63% | -233.78% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$316.3K | -$741.2K | -$880.5K |
Capital Expenditures | $2.067M | ||
Free Cash Flow | -$2.383M | ||
YoY Change |
Facts In Submission
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---|---|---|---|---|
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2022-06-30 | ||
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2022 | ||
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001-39852 | ||
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VICKERS VANTAGE CORP. I | ||
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E9 | ||
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1 Harbourfront Avenue | ||
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#16-06 | ||
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Keppel Bay Tower | ||
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SG | ||
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098632 | ||
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(646) | ||
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974-8301 | ||
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NASDAQ | ||
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us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
389942 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
20025 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1621649 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-551630 | usd | |
vcka |
Investment Of Cash In Trust Accounts
InvestmentOfCashInTrustAccounts
|
2070000 | usd | |
vcka |
Investment Of Cash In Trust Accounts
InvestmentOfCashInTrustAccounts
|
139380000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2070000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-139380000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
135600000 | usd | |
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
5130000 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
25000 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
55000 | usd | |
us-gaap |
Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
|
1535000 | usd | |
vcka |
Proceeds From Simple Promissory Note Related Party
ProceedsFromSimplePromissoryNoteRelatedParty
|
2000000 | usd | |
vcka |
Repayment Of Promissory Note Related Party
RepaymentOfPromissoryNoteRelatedParty
|
125000 | usd | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
416260 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3535000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
140158740 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-156649 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
227110 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
507921 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
30511 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
351272 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
257621 | usd |
vcka |
Offering Cost Included In Accrued Offering Cost
OfferingCostIncludedInAccruedOfferingCost
|
5190000 | usd | |
CY2021Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
10 | |
CY2021Q1 | us-gaap |
Demutualization By Insurance Entity Securities Issued Gross Cash Proceeds
DemutualizationByInsuranceEntitySecuritiesIssuedGrossCashProceeds
|
138000000 | usd |
CY2022Q2 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
8149473 | usd |
us-gaap |
Other Underwriting Expense
OtherUnderwritingExpense
|
2400000 | usd | |
vcka |
Deferred Underwriting Fees
DeferredUnderwritingFees
|
5190000 | usd | |
CY2022Q2 | us-gaap |
Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
|
559473 | usd |
CY2022Q2 | us-gaap |
Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
|
2717776 | usd |
CY2022Q2 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
141587959 | usd |
vcka |
Sale Of Stock Description Of Transactions
SaleOfStockDescriptionOfTransactions
|
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 (as defined below) (less any deferred underwriting commissions and taxes payable on the interest earned on 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. | ||
vcka |
Price Per Public Share
PricePerPublicShare
|
10.32 | ||
CY2022Q2 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
5000001 | usd |
vcka |
Percentage Of Public Shares
PercentageOfPublicShares
|
0.20 | pure | |
CY2022Q2 | vcka |
Business Combination Redeem Percentage
BusinessCombinationRedeemPercentage
|
1 | pure |
us-gaap |
Other Expenses
OtherExpenses
|
50000 | usd | |
vcka |
Deposit Into The Trust Account Per Share
DepositIntoTheTrustAccountPerShare
|
10.175 | ||
vcka |
Lesser Public Per Share
LesserPublicPerShare
|
10.1 | ||
CY2022Q2 | us-gaap |
Cash
Cash
|
351272 | usd |
CY2022Q2 | vcka |
Working Capital
WorkingCapital
|
14202 | usd |
us-gaap |
Interest Income Deposit With Financial Institution Increase Decrease
InterestIncomeDepositWithFinancialInstitutionIncreaseDecrease
|
237000 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the condensed consolidated 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these condensed consolidated financial statements is the determination of the fair value of the warrant liabilities. Such estimates may be subject to change as more current information because available and accordingly, the actual results could differ significantly from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> | ||
CY2022Q2 | us-gaap |
Other Deferred Costs Net
OtherDeferredCostsNet
|
8119261 | usd |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | ||
CY2021 | vcka |
Gross Proceeds
GrossProceeds
|
138000000 | usd |
CY2021 | vcka |
Ordinary Shares Issuance Cost
OrdinarySharesIssuanceCost
|
8119261 | usd |
CY2021Q4 | vcka |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
9499261 | usd |
CY2021 | vcka |
Shares Subject To Possible Redemption
SharesSubjectToPossibleRedemption
|
139380000 | usd |
us-gaap |
Temporary Equity Other Changes
TemporaryEquityOtherChanges
|
-41824292 | usd | |
CY2022Q2 | vcka |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
2630486 | usd |
vcka |
Shares Subject To Possible Redemption
SharesSubjectToPossibleRedemption
|
100186194 | usd | |
CY2022Q2 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
13740000 | shares |
CY2022Q2 | us-gaap |
Temporary Equity Net Income
TemporaryEquityNetIncome
|
1561125 | usd |
CY2021Q2 | us-gaap |
Temporary Equity Net Income
TemporaryEquityNetIncome
|
-233749 | usd |
us-gaap |
Temporary Equity Net Income
TemporaryEquityNetIncome
|
754903 | usd | |
us-gaap |
Temporary Equity Net Income
TemporaryEquityNetIncome
|
1095104 | usd | |
CY2022Q2 | vcka |
Weighted Average Number Of Diluted Shares Outstanding Shares
WeightedAverageNumberOfDilutedSharesOutstandingShares
|
17205235 | shares |
CY2021Q2 | vcka |
Weighted Average Number Of Diluted Shares Outstanding Shares
WeightedAverageNumberOfDilutedSharesOutstandingShares
|
17250000 | shares |
vcka |
Weighted Average Number Of Diluted Shares Outstanding Shares
WeightedAverageNumberOfDilutedSharesOutstandingShares
|
17227494 | shares | |
vcka |
Weighted Average Number Of Diluted Shares Outstanding Shares
WeightedAverageNumberOfDilutedSharesOutstandingShares
|
16391664 | shares | |
CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.09 | |
CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.04 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.07 | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 $250,000. As of June 30, 2022 and December 31, 2021, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> | ||
CY2022Q2 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
vcka |
Purchase Price Per Share
PurchasePricePerShare
|
10 | ||
us-gaap |
Business Combination Control Obtained Description
BusinessCombinationControlObtainedDescription
|
The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon completion of a Business Combination into warrants at a price of $0.75 per warrant. | ||
CY2021Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
500000 | usd |
CY2021Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
|
500000 | usd |
CY2021Q4 | vcka |
Warrants Exercise Price
WarrantsExercisePrice
|
0.75 | |
CY2022Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
1035000 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
|
500000 | usd |
CY2022Q2 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
8280 | usd |
us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
15746 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
1155 | usd | |
CY2021 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
16901 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
1500000 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
500000 | usd |
vcka |
Aggregate Purchase Price
aggregatePurchasePrice
|
2000000 | usd | |
CY2021 | vcka |
Aggregate Purchase Price
aggregatePurchasePrice
|
0 | usd |
us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
In order to extend the time available for the Company to consummate a Business Combination, the Sponsor or its affiliates or designees must deposit into the Trust Account $1,035,000 ($0.075 per Public Share in either case), on or prior to the date of the applicable deadline, for each three-month extension. | ||
CY2022Q2 | vcka |
Deposited In Trust Account
DepositedInTrustAccount
|
1035000 | usd |
CY2022Q2 | vcka |
Warrants Exercise Price
WarrantsExercisePrice
|
0.75 | |
us-gaap |
Other Commitments Description
OtherCommitmentsDescription
|
The underwriters are entitled to a deferred fee of (i) 3.5% of the gross proceeds of the initial 12,000,000 Units sold in the Initial Public Offering, or $4,200,000, and (ii) 5.5% of the gross proceeds from the Units sold pursuant to the over-allotment option, or $990,000. | ||
vcka |
Merger Consideration Description
MergerConsiderationDescription
|
The total consideration to be paid at Closing (the “Merger Consideration”) by VCKA to Scilex stockholders will be an amount equal to the quotient of (a) the sum of (i) $1,500,000,000 minus (ii) the aggregate amount of Scilex long term debt excluding intercompany debt owed to Sorrento existing as of immediately prior to the date of the closing of the transaction (the “Closing Date”); divided by (b) $10.00, and will be payable in shares of common stock, par value $0.0001 per shares, of VCKA upon its domestication in Delaware (“VCKA Common Stock”). | ||
CY2022Q2 | vcka |
Issued And Outstanding Percentage
IssuedAndOutstandingPercentage
|
0.88 | pure |
CY2022Q2 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
5000001 | usd |
CY2022Q2 | vcka |
Balance In The Trust Account
BalanceInTheTrustAccount
|
25000000 | usd |
vcka |
Deferred Underwriting Commission Description
DeferredUnderwritingCommissionDescription
|
(A)50% of the Deferred Underwriting Commission will be payable to Maxim directly from the trust account; and(B)the remaining 50% of the Deferred Underwriting Commission will be payable to Maxim in the form of a Promissory Note on or before the one-year anniversary of the effective date of a Business Combination. | ||
CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3450000 | shares |
CY2022Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3450000 | shares |
vcka |
Mandatorily Redeemable Ordinary Shares
MandatorilyRedeemableOrdinaryShares
|
4073605 | usd | |
CY2022Q2 | vcka |
Ordinary Shares Subject To Possible Redemption
OrdinarySharesSubjectToPossibleRedemption
|
9726395 | shares |
CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3450000 | shares |
CY2021Q4 | vcka |
Ordinary Shares Subject To Possible Redemption
OrdinarySharesSubjectToPossibleRedemption
|
13800000 | shares |
vcka |
Public Warrants Redemption Description
PublicWarrantsRedemptionDescription
|
The Company may redeem the Public Warrants: ●in whole and not in part; ●at a price of $0.01 per warrant; ●at any time while the warrants become exercisable; ●upon not less than 30 days’ prior written notice of redemption to each warrant holder; ●if, and only if, the reported last sale price of the Company’s ordinary shares equals or exceeds $18.00 per share (subject to adjustment) for any 20 trading days within a 30-trading day period commencing after the warrants become exercisable and ending on the third trading business day prior to the notice of redemption to the warrant holders; and ●if, and only if, there is a current registration statement in effect with respect to the issuance of the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. | ||
vcka |
Capital Raising Description
CapitalRaisingDescription
|
In addition, if (x) the Company issues additional ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsors or its affiliates, without taking into account any Founder Shares held by the Sponsors or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of its ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. | ||
CY2022Q2 | us-gaap |
Assets Held In Trust Current
AssetsHeldInTrustCurrent
|
141686598 | usd |
CY2021Q4 | us-gaap |
Assets Held In Trust Current
AssetsHeldInTrustCurrent
|
139410739 | usd |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y3M10D | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0 | pure | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0.083 | pure |
CY2022Q2 | vcka |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate1
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate1
|
0.031 | pure |
CY2021Q4 | vcka |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate1
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate1
|
0.0128 | pure |
CY2022Q2 | vcka |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate1
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate1
|
0 | pure |
CY2021Q4 | vcka |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate1
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate1
|
0 | pure |
CY2022Q2 | vcka |
Fair Value Of Warrantsin Dollars
FairValueOfWarrantsinDollars
|
0.18 | |
us-gaap |
Fair Value Measurements Highest And Best Use Description
FairValueMeasurementsHighestAndBestUseDescription
|
The Company established the initial fair value for the private warrants on January 11, 2021, the date of the Company’s Initial Public Offering, using a Monte Carlo simulation and subsequently implemented the Black-Scholes Option Pricing Model that was modified to capture the redemption features of the public warrants. The underlying assumptions in the Black-Scholes option pricing model include the underlying share price, risk-free interest rate, estimated volatility and the expected term. The primary unobservable inputs utilized in determining the fair value of the private warrants are the expected volatility of the Company’s ordinary shares and the Company’s ordinary share price. The expected volatility of the ordinary shares was determined based on implied volatilities of public warrants issued by selected guideline companies and was estimated to be 10% before the expected business combination and 20% after the expected business combination. The ordinary share price was determined based on an iterative procedure that matched the estimated value of the ordinary shares and fractional warrant price to equate to the observed price of the outstanding units. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the date of valuation equal to the remaining expected life of the private warrants. The dividend yield percentage is zero because the Company does not currently pay dividends, nor does it intend to do so during the expected term of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. Inputs are re-evaluated each quarterly reporting period to estimate the fair market value of the private placement warrants as of the reporting period. | ||
CY2022Q2 | us-gaap |
Share Price
SharePrice
|
10.22 | |
CY2021Q4 | us-gaap |
Share Price
SharePrice
|
10.04 | |
CY2022Q2 | vcka |
Fair Value Measurement Strike Price
FairValueMeasurementStrikePrice
|
11.5 | |
CY2021Q4 | vcka |
Fair Value Measurement Strike Price
FairValueMeasurementStrikePrice
|
11.5 | |
CY2021Q4 | vcka |
Fair Value Of Warrantsin Dollars
FairValueOfWarrantsinDollars
|
0.49 | |
CY2022Q2 | us-gaap |
Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
|
4073605 | shares |
CY2022Q2 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
10.25 | |
us-gaap |
Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
|
41800000 | usd | |
CY2022Q2 | vcka |
Balance Amount
BalanceAmount
|
99800000 | usd |
CY2022Q2 | us-gaap |
Shares Issued
SharesIssued
|
9726395 | shares |
CY2022Q2 | us-gaap |
Security Deposit
SecurityDeposit
|
323888 | usd |
CY2022Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.0333 | |
vcka |
Underlying Warrant Value
UnderlyingWarrantValue
|
0 | ||
CY2021 | vcka |
Underlying Warrant Value
UnderlyingWarrantValue
|
0.0103 | |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
0.75 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
0.75 | |
vcka |
Holding Period
HoldingPeriod
|
0.5 | ||
CY2021 | vcka |
Holding Period
HoldingPeriod
|
0.28 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.031 | pure | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0128 | pure |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.053 | pure | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.083 | pure |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2022Q2 | us-gaap |
Excess Stock Shares Outstanding
ExcessStockSharesOutstanding
|
13800000 | shares |
vcka |
Ordinary Shares Description
OrdinarySharesDescription
|
In connection with its solicitation of proxies in connection with the Extension Proposal, the Company was required to permit its public shareholders to redeem their ordinary shares. Of the 13,800,000 ordinary shares outstanding with redemption rights, the holders of 4,073,605 ordinary shares elected to redeem their shares at a per share redemption price of $10.25. As a result, approximately $41.8 million will be removed from the Trust Account to pay such holders and approximately $99.8 million will remain in the Trust Account. Following the redemptions, the Company will have 9,726,395 ordinary shares with redemption rights outstanding and the Company will deposit approximately $323,888 (or approximately $0.0333 per ordinary share that remains outstanding) for each calendar month, or portion thereof, that is needed by the Company to complete an initial business combination from July 11, 2022. | ||
CY2022Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2022Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2022Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
usd | |
CY2021Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
usd | |
CY2022Q2 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
usd | |
CY2021Q2 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
usd | |
CY2022Q2 | vcka |
Transaction Costs Allocated To Warrant Liabilities
TransactionCostsAllocatedToWarrantLiabilities
|
usd | |
CY2021Q2 | vcka |
Transaction Costs Allocated To Warrant Liabilities
TransactionCostsAllocatedToWarrantLiabilities
|
usd | |
CY2021Q2 | us-gaap |
Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
|
usd | |
us-gaap |
Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
|
usd | ||
CY2021Q2 | us-gaap |
Distributions On Mandatorily Redeemable Securities
DistributionsOnMandatorilyRedeemableSecurities
|
usd | |
us-gaap |
Distributions On Mandatorily Redeemable Securities
DistributionsOnMandatorilyRedeemableSecurities
|
usd | ||
CY2021Q2 | us-gaap |
Interest Expense
InterestExpense
|
usd | |
us-gaap |
Interest Expense
InterestExpense
|
usd | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16391664 | shares | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
17205235 | shares |
CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.04 | ||
vcka |
Loss On Initial Issuance Of Warrant Liability
LossOnInitialIssuanceOfWarrantLiability
|
usd | ||
vcka |
Change In Fair Value Of Conversion Option Liability
ChangeInFairValueOfConversionOptionLiability
|
usd | ||
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
usd | ||
vcka |
Transactions Costs Allocated To Private Warrants
TransactionsCostsAllocatedToPrivateWarrants
|
usd | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | ||
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | ||
us-gaap |
Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
|
usd | ||
vcka |
Proceeds From Simple Promissory Note Related Party
ProceedsFromSimplePromissoryNoteRelatedParty
|
usd | ||
vcka |
Repayment Of Promissory Note Related Party
RepaymentOfPromissoryNoteRelatedParty
|
usd | ||
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
usd | ||
vcka |
Offering Cost Included In Accrued Offering Cost
OfferingCostIncludedInAccruedOfferingCost
|
usd | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001820190 |