10-Q Filing

SES AI CORP CIK: 1819142 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001104659-21-080762`
Period End Date	20210331
Filing Date	20210614
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	ivan-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 7 Cash Flow Statement 26 Stockholders Equity 8

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value, (per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value, (per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$161.27K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$133.51K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$161.27K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.21M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$276.04M	USD	Point-in-time
Deferred offering costs associated with the initial public offering	`DeferredCosts`	$413.04K	USD	Point-in-time
Total Assets	`Assets`	$277.26M	USD	Point-in-time
Total Assets	`Assets`	$574.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.79K	USD	Point-in-time
Purchase price, per unit	`SharesIssuedPricePerShare`	$10.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$62.90K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$68.35K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$122.51K	USD	Point-in-time
Accrued expenses - related party	`AccruedExpensesRelatedPartiesCurrent`	$1.66K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$500.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$582.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$187.07K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingFeePayableNoncurrent`	$9.66M	USD	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$19.49M	USD	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$22.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$582.13K	USD	Point-in-time
Total liabilities	`Liabilities`	$29.34M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 24,292,066 shares subject to possible redemption at $10.00 per share as of March 31, 2021	`TemporaryEquityCarryingAmountAttributableToParent`	$240.51M	USD	Point-in-time
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.31K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$1.50M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-32.82K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-7.82K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$574.31K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$277.26M	USD	Point-in-time

Income Statement 7 line items

Line Item	Tag	Value	Unit	Period
General and administrative expense	`GeneralAndAdministrativeExpense`	$290.59K	USD	1 Quarter
General and administrative expenses - related party	`RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty`	$30.00K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$320.59K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$44.51K	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.66M	USD	1 Quarter
Transaction costs - derivative warrant liabilities	`TransactionsExpenseWarrantsIssuance`	$855.04K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.53M	USD	1 Quarter

Cash Flow Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.53M	USD	1 Quarter
Income from investments held in Trust Account	`InvestmentIncomeInterest`	$44.51K	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.66M	USD	1 Quarter
Transaction costs - derivative warrant liabilities	`TransactionsExpenseWarrantsIssuance`	$855.04K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.08M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$49.11K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.30K	USD	1 Quarter
Accrued expenses - related party	`IncreaseDecreaseInAccruedExpensesRealtedParties`	$1.66K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.34M	USD	1 Quarter
Cash deposited in Trust Account	`PaymentsForInvestmentOfCashInTrustAccount`	$276.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-276.00M	USD	1 Quarter
Payment of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$500.00K	USD	1 Quarter
Proceeds received from initial public offering, gross	`ProceedsReceivedFromInitialPublicOfferingGross`	$276.00M	USD	1 Quarter
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$7.52M	USD	1 Quarter
Offering cost paid	`PaymentsOfStockIssuanceCosts`	$5.71M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$277.31M	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-27.76K	USD	1 Quarter
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$133.51K	USD	Point-in-time
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$161.27K	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$133.51K	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$161.27K	USD	Point-in-time
Reversal of offering costs included in accrued expenses in prior year	`ReversalOfOfferingCostsIncludedInAccruedExpensesInPriorYear`	$-42.13K	USD	1 Quarter
Offering costs included in accrued expenses	`OfferingCostsIncludedInAccountsPayableAccruedExpenses`	$85.00K	USD	1 Quarter
Deferred underwriting commissions	`Underwritingcommissiondeferred`	$9.66M	USD	1 Quarter
Initial value of Class A ordinary shares subject to possible redemption	`Commonstocksubjecttopossibleredemptionofnoncashfinancingactivities`	$240.51M	USD	1 Quarter
Change in value of Class A ordinary shares subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	$2.41M	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$-7.82K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Sale of units in initial public offering, net of fair value of public warrants	`Unitsissuedduringperiodvaluenewissue`	$261.37M	USD	1 Quarter
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$14.97M	USD	1 Quarter
Class A ordinary shares subject to possible redemption	`CommonStockSubjectToPossibleRedemptionValue`	$242.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Balance at the end	`StockholdersEquity`	$-7.82K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.