$SST
System1, Inc.

2021 Q2 Form 10-Q Financial Statement

#000110465921108600 Filed on August 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $169.6M
YoY Change
Cost Of Revenue $126.2M
YoY Change
Gross Profit $43.41M
YoY Change
Gross Profit Margin 25.6%
Selling, General & Admin $6.277M
YoY Change
% of Gross Profit 14.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $89.00K
YoY Change
% of Gross Profit 0.21%
Operating Expenses $6.277M
YoY Change
Operating Profit $16.33M -$31.88K
YoY Change -51304.44%
Interest Expense $4.476M
YoY Change
% of Operating Profit 27.42%
Other Income/Expense, Net -$4.476M -$8.452M
YoY Change -47.04%
Pretax Income $11.85M
YoY Change
Income Tax $77.00K
% Of Pretax Income 0.65%
Net Earnings $11.77M -$8.484M
YoY Change -238.76%
Net Earnings / Revenue 6.94%
Basic Earnings Per Share
Diluted Earnings Per Share $144.1K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K
YoY Change
Cash & Equivalents $34.57M $1.737M
Short-Term Investments
Other Short-Term Assets $180.0K
YoY Change
Inventory
Prepaid Expenses $176.7K
Receivables
Other Receivables
Total Short-Term Assets $279.1K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $517.5M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $517.5M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $279.1K
Total Long-Term Assets $517.5M
Total Assets $517.8M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $1.800M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.805M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $61.94M
YoY Change
Total Long-Term Liabilities $61.94M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.805M
Total Long-Term Liabilities $61.94M
Total Liabilities $63.75M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$63.47M -$59.91M
YoY Change 5.95%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$63.47M -$59.91M
YoY Change
Total Liabilities & Shareholders Equity $517.8M
YoY Change

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $11.77M -$8.484M
YoY Change -238.76%
Depreciation, Depletion And Amortization $89.00K
YoY Change
Cash From Operating Activities $17.19M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$1.793M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$1.793M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.29M
YoY Change
NET CHANGE
Cash From Operating Activities 17.19M
Cash From Investing Activities -1.793M
Cash From Financing Activities -12.29M
Net Change In Cash 3.103M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $17.19M
Capital Expenditures -$1.793M
Free Cash Flow $18.98M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Period End Date
DocumentPeriodEndDate
2021-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39331
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-1531250
CY2020Q2 us-gaap Costs And Expenses
CostsAndExpenses
31882
us-gaap Costs And Expenses
CostsAndExpenses
1966155
us-gaap Costs And Expenses
CostsAndExpenses
36866
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-248983
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-31882
us-gaap Operating Income Loss
OperatingIncomeLoss
-1966155
us-gaap Operating Income Loss
OperatingIncomeLoss
-36866
CY2020Q2 treb Offering Costs Related To Warrants And Fpa
OfferingCostsRelatedToWarrantsAndFpa
1381051
treb Offering Costs Related To Warrants And Fpa
OfferingCostsRelatedToWarrantsAndFpa
1381051
CY2021Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
5606333
CY2020Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
4077333
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-9174001
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
4077333
CY2021Q2 treb Fair Value Adjustment Of Fpa
FairValueAdjustmentOfFpa
0
CY2020Q2 treb Fair Value Adjustment Of Fpa
FairValueAdjustmentOfFpa
2993421
treb Fair Value Adjustment Of Fpa
FairValueAdjustmentOfFpa
-7494372
treb Fair Value Adjustment Of Fpa
FairValueAdjustmentOfFpa
2993421
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
843643
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102402
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1736513
CY2021Q2 treb Gain Loss On Termination Of Fpa
GainLossOnTerminationOfFpa
3160168
treb Gain Loss On Termination Of Fpa
GainLossOnTerminationOfFpa
3160168
treb Initial Classification Of Warrant Liability
InitialClassificationOfWarrantLiability
35676668
treb Initial Classification Of Forward Purchase Agreement Liability
InitialClassificationOfForwardPurchaseAgreementLiability
255538
treb Initial Classification Of Common Stock Subject To Possible Redemption
InitialClassificationOfCommonStockSubjectToPossibleRedemption
517500000
treb Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
5877460
treb Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
18112500
treb Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
534818
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
dei Entity Central Index Key
EntityCentralIndexKey
0001805833
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
treb Transition Report
TransitionReport
true
dei Amendment Flag
AmendmentFlag
false
treb Redemption Of Shares Calculated Based On Number Of Business Days Prior To Consummation Of Business Combination
RedemptionOfSharesCalculatedBasedOnNumberOfBusinessDaysPriorToConsummationOfBusinessCombination
P2D
CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
dei Entity Registrant Name
EntityRegistrantName
Trebia Acquisition Corp.
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2021Q2 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q2 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
treb Threshold Trading Days For Determining Threshold Post Closing Dollar Volume Weighted Average Price
ThresholdTradingDaysForDeterminingThresholdPostClosingDollarVolumeWeightedAveragePrice
P20D
treb Threshold Consecutive Trading Days For Determining Threshold Post Closing Dollar Volume Weighted Average Price
ThresholdConsecutiveTradingDaysForDeterminingThresholdPostClosingDollarVolumeWeightedAveragePrice
P30D
treb Threshold Trading Days For Transfer Assign Or Sale Of Shares Or Warrants After Completion Of Initial Business Combination
ThresholdTradingDaysForTransferAssignOrSaleOfSharesOrWarrantsAfterCompletionOfInitialBusinessCombination
P20D
treb Threshold Consecutive Trading Days For Transfer Assign Or Sale Of Shares Or Warrants After Completion Of Initial Business Combination
ThresholdConsecutiveTradingDaysForTransferAssignOrSaleOfSharesOrWarrantsAfterCompletionOfInitialBusinessCombination
P30D
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
150000
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
209790
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
243771
CY2021Q2 us-gaap Assets Current
AssetsCurrent
279069
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
519281229
CY2021Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
176667
dei Entity Address Address Line1
EntityAddressAddressLine1
41 Madison Avenue, Suite 2020
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10010
dei City Area Code
CityAreaCode
646
dei Local Phone Number
LocalPhoneNumber
450-9187
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
true
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
102402
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
843643
CY2020Q4 us-gaap Assets Current
AssetsCurrent
1053433
CY2021Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
517500000
CY2020Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
517500000
CY2021Q2 us-gaap Assets
Assets
517779069
CY2020Q4 us-gaap Assets
Assets
518553433
CY2021Q2 treb Accrued Liabilities Excluding Offering Costs Current
AccruedLiabilitiesExcludingOfferingCostsCurrent
1804841
CY2020Q4 treb Accrued Liabilities Excluding Offering Costs Current
AccruedLiabilitiesExcludingOfferingCostsCurrent
613050
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1804841
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
613050
CY2021Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
43831334
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
53005335
CY2020Q4 treb Fpa Liability
FpaLiability
10654540
CY2021Q2 treb Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
18112500
CY2020Q4 treb Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
18112500
CY2021Q2 us-gaap Liabilities
Liabilities
63748675
CY2020Q4 us-gaap Liabilities
Liabilities
82385425
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
517500000
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
511622540
CY2021Q2 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
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
847038
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
6724439
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-64317938
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-82180324
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-63469606
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-75454532
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
517779069
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
518553433
CY2021Q2 us-gaap Costs And Expenses
CostsAndExpenses
248983
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2446165
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8451805
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
19828541
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8451805
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-2695148
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-8483687
us-gaap Net Income Loss
NetIncomeLoss
17862386
us-gaap Net Income Loss
NetIncomeLoss
-8488671
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-75454532
CY2021Q1 treb Changeinvalueofordinarysharessubjecttopossibleredemptionvalue
Changeinvalueofordinarysharessubjecttopossibleredemptionvalue
5877460
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
20557534
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-60774458
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-2695148
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-63469606
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
0
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-4984
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
20016
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
823332
CY2020Q2 treb Offering Costs Allocated To Equity In Connection With Ipo
OfferingCostsAllocatedToEquityInConnectionWithIpo
27860038
CY2020Q2 treb Initial Classification Of Public Warrants
InitialClassificationOfPublicWarrants
24150000
CY2020Q2 treb Initial Classification Of Fpa Liability
InitialClassificationOfFpaLiability
255538
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-8483687
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-59905915
us-gaap Profit Loss
ProfitLoss
17862386
us-gaap Profit Loss
ProfitLoss
-8488671
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-9174001
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
4077333
treb Fair Value Adjustment Of Fpa
FairValueAdjustmentOfFpa
-7494372
treb Fair Value Adjustment Of Fpa
FairValueAdjustmentOfFpa
2993421
treb Gain Loss On Termination Of Fpa
GainLossOnTerminationOfFpa
3160168
treb Transaction Costs Incurred In Connection With Ipo
TransactionCostsIncurredInConnectionWithIpo
1381051
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-33123
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
24517
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1191791
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
16667
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-741241
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-44716
treb Investmentofcashintrustaccount
Investmentofcashintrustaccount
517500000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-517500000
treb Proceeds From Sale Of Units Net Of Underwriting Discounts Paid
ProceedsFromSaleOfUnitsNetOfUnderwritingDiscountsPaid
507150000
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
12350000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
150000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-741241
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1736513
treb Threshold Period For Not To Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination
ThresholdPeriodForNotToTransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombination
P180D
CY2021Q2 treb Cash Held Outside Trust Account
CashHeldOutsideTrustAccount
102402
CY2020Q4 treb Cash Held Outside Trust Account
CashHeldOutsideTrustAccount
843643
CY2020Q2 treb Investment Of Cash In Trust Account
InvestmentOfCashInTrustAccount
517500000
treb Threshold Minimum Aggregate Fair Market Value As Percentage Of Assets Held In Trust Account
ThresholdMinimumAggregateFairMarketValueAsPercentageOfAssetsHeldInTrustAccount
0.80
treb Threshold Percentage Of Outstanding Voting Securities Of Target To Be Acquired By Post Transaction Company To Complete Business Combination
ThresholdPercentageOfOutstandingVotingSecuritiesOfTargetToBeAcquiredByPostTransactionCompanyToCompleteBusinessCombination
0.50
CY2021Q2 treb Minimum Net Tangible Assets Upon Consummation Of Business Combination
MinimumNetTangibleAssetsUponConsummationOfBusinessCombination
5000001
treb Threshold Percentage Of Public Shares Subject To Redemption Without Companys Prior Written Consent
ThresholdPercentageOfPublicSharesSubjectToRedemptionWithoutCompanysPriorWrittenConsent
0.15
treb Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1
treb Threshold Business Days For Redemption Of Public Shares
ThresholdBusinessDaysForRedemptionOfPublicShares
P10D
treb Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1
treb Maximum Net Interest To Pay Dissolution Expenses
MaximumNetInterestToPayDissolutionExpenses
100000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
102402
CY2021Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
517500000
CY2021Q2 treb Working Capital Deficit
WorkingCapitalDeficit
1525772
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of the condensed consolidated financial statements in conformity with US GAAP requires 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-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">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>
treb Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Stock Price Trigger
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationStockPriceTrigger
12.00
treb Threshold Period After Business Combination In Which Specified Trading Days Within Any Specified Trading Day Period Commences
ThresholdPeriodAfterBusinessCombinationInWhichSpecifiedTradingDaysWithinAnySpecifiedTradingDayPeriodCommences
P150D
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51750000
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51750000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51750000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51457751
CY2021Q2 treb Deferred Underwriting Compensation Noncurrent
DeferredUnderwritingCompensationNoncurrent
18112500
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
2865567
CY2020 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
2853572
treb Threshold Post Closing Dollar Volume Weighted Average Price
ThresholdPostClosingDollarVolumeWeightedAveragePrice
12.50
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p>
CY2020Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
29241089
CY2020Q2 treb Deferred Offering Costs Current
DeferredOfferingCostsCurrent
28462500
CY2020Q2 treb Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
778589
CY2020Q2 treb Offering Cost Expenses
OfferingCostExpenses
1381051
treb Amount Of Shareholder Redemption Need To Exceed For Dollar To Dollar Adjustment Of Consideration
AmountOfShareholderRedemptionNeedToExceedForDollarToDollarAdjustmentOfConsideration
417500000
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 treb Maximum Number Of Demands For Registration Of Securities
MaximumNumberOfDemandsForRegistrationOfSecurities
3
treb Period After Closing Of Initial Business Combination To File Resale Shelf Registration Statement
PeriodAfterClosingOfInitialBusinessCombinationToFileResaleShelfRegistrationStatement
P30D
CY2021Q2 treb Deferred Fee Per Unit
DeferredFeePerUnit
0.35
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
8233334
CY2021Q2 treb Class Of Warrant Or Right Price Of Warrants Or Rights
ClassOfWarrantOrRightPriceOfWarrantsOrRights
1.50
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
12350000
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q2 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
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
treb Class Of Warrant Or Right Redemption Of Warrants Or Rights Stock Price Trigger
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger
18.00
CY2021Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
43831334
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
53005335
CY2020Q4 treb Fpa Liability
FpaLiability
10654540
CY2020Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
63659875
CY2021Q2 treb Fpa Liability
FpaLiability
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0

Files In Submission

Name View Source Status
0001104659-21-108600-index-headers.html Edgar Link pending
0001104659-21-108600-index.html Edgar Link pending
0001104659-21-108600.txt Edgar Link pending
0001104659-21-108600-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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
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
treb-20210630.xsd Edgar Link pending
treb-20210630x10q.htm Edgar Link pending
treb-20210630x10q_htm.xml Edgar Link completed
treb-20210630xex31d1.htm Edgar Link pending
treb-20210630xex31d2.htm Edgar Link pending
treb-20210630xex32d1.htm Edgar Link pending
treb-20210630xex32d2.htm Edgar Link pending
treb-20210630_cal.xml Edgar Link unprocessable
treb-20210630_def.xml Edgar Link unprocessable
treb-20210630_lab.xml Edgar Link unprocessable
treb-20210630_pre.xml Edgar Link unprocessable