| Schedule of reconciliation of business combination to Statement of Cash Flows and Statement of Changes in Equity |
|
|
|
|
|
|
Recapitalization |
Cash – Trine's trust and cash (net of redemptions) |
|
$ |
305,084,695 |
Cash – PIPE financing |
|
|
274,975,000 |
Less: transaction costs and advisory fees paid |
|
|
(45,463,074) |
Net proceeds from reverse recapitalization |
|
|
534,596,621 |
Plus: non-cash net liabilities assumed(1) |
|
|
(152,394,714) |
Less: accrued transaction costs and advisory fees |
|
|
(1,900,793) |
Net contributions from reverse recapitalization |
|
$ |
380,301,114 |
| (1) |
Includes $149.7 million of non-cash warrant liability assumed.
|
|
|
|
|
|
|
|
Recapitalization
(as restated) |
Cash – Trine's trust and cash (net of redemptions) |
|
$ |
305,084,695 |
Cash – PIPE financing |
|
|
274,975,000 |
Less: transaction costs and advisory fees paid |
|
|
(45,463,074) |
Net proceeds from reverse recapitalization |
|
|
534,596,621 |
Plus: non-cash net liabilities assumed (1) |
|
|
(152,394,714) |
Less: accrued transaction costs and advisory fees |
|
|
(1,900,793) |
Net contributions from reverse recapitalization |
|
$ |
380,301,114 |
| (1) |
Includes $149.7 million of non-cash warrant liability assumed.
|
|
| Schedule of number of shares issued on consummation of business combination |
|
|
|
|
|
|
Number of Shares |
Common stock, outstanding prior to Business Combination |
|
|
30,015,000 |
Less: redemption of Trine shares |
|
|
(26,049) |
Common stock of Trine |
|
|
29,988,951 |
Trine Founder Shares |
|
|
5,552,812 |
Trine Director Shares |
|
|
100,000 |
Shares issued in PIPE financing |
|
|
27,497,500 |
Business Combination and PIPE financing shares |
|
|
63,139,263 |
Legacy Desktop Metal shares (1) |
|
|
161,487,334 |
Total shares of common stock immediately after Business Combination |
|
|
224,626,597 |
| (1) |
The number of Legacy Desktop Metal shares was determined from the shares of Legacy Desktop Metal shares outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio of 1.22122. All fractional shares were rounded down.
|
|
|
|
|
|
|
|
Number of Shares |
Common stock, outstanding prior to Business Combination |
|
|
30,015,000 |
Less: redemption of Trine shares |
|
|
(26,049) |
Common stock of Trine |
|
|
29,988,951 |
Trine Founder Shares |
|
|
5,552,812 |
Trine Director Shares |
|
|
100,000 |
Shares issued in PIPE financing |
|
|
27,497,500 |
Business Combination and PIPE financing shares |
|
|
63,139,263 |
Legacy Desktop Metal shares (1) |
|
|
161,487,334 |
Total shares of common stock immediately after Business Combination |
|
|
224,626,597 |
| (1) |
The number of Legacy Desktop Metal shares was determined from the shares of Legacy Desktop Metal shares outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio of 1.22122. All fractional shares were rounded down.
|
|