10-Q Filing

SES AI CORP CIK: 1819142 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001104659-21-108553`
Period End Date	20210630
Filing Date	20210823
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	ivan-20210630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 16 Cash Flow Statement 30 Stockholders Equity 13

Balance Sheet 45 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`	$501.23K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$161.27K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$918.59K	USD	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`	$1.42M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$276.05M	USD	Point-in-time
Deferred offering costs associated with the initial public offering	`DeferredCosts`	$413.04K	USD	Point-in-time
Total Assets	`Assets`	$277.47M	USD	Point-in-time
Total Assets	`Assets`	$574.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$49.94K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.79K	USD	Point-in-time
Purchase price, per unit	`SharesIssuedPricePerShare`	$10.00	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$16.50K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$68.35K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$165.26K	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`	$231.71K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.85M	USD	Point-in-time
Convertible note - related party	`NotesPayableRelatedPartiesNoncurrent`	$631.26K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingFeePayableNoncurrent`	$9.66M	USD	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$26.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$582.13K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	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`	$13.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.82K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.95M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-7.82K	USD	Point-in-time
Total Liabilities and Shareholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$574.31K	USD	Point-in-time
Total Liabilities and Shareholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$277.47M	USD	Point-in-time

Income Statement 16 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.45M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.16M	USD	1 Quarter
General and administrative expenses - related party	`RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty`	$30.00K	USD	1 Quarter
General and administrative expenses - related party	`RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty`	$60.00K	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$3.19M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$3.51M	USD	2 Qtrs
Income from investments held in Trust Account	`GainLossOnInvestments`	$3.47K	USD	1 Quarter
Income from investments held in Trust Account	`GainLossOnInvestments`	$47.98K	USD	2 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$4.47M	USD	2 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$7.13M	USD	1 Quarter
Change in fair value of convertible note - related party	`FairValueAdjustmentOfConvertibleDebtWithRelatedParties`	$131.26K	USD	1 Quarter
Change in fair value of convertible note - related party	`FairValueAdjustmentOfConvertibleDebtWithRelatedParties`	$131.26K	USD	2 Qtrs
Offering costs - derivative warrant liabilities	`OfferingCostsWarrantsIssuance`	$855.04K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.92M	USD	2 Qtrs

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-8.92M	USD	2 Qtrs
Income from investments held in Trust Account	`InvestmentIncomeInterest`	$47.98K	USD	2 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$4.47M	USD	2 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$7.13M	USD	1 Quarter
Change in fair value of convertible note - related party	`FairValueAdjustmentOfConvertibleDebtWithRelatedParties`	$131.26K	USD	1 Quarter
Change in fair value of convertible note - related party	`FairValueAdjustmentOfConvertibleDebtWithRelatedParties`	$131.26K	USD	2 Qtrs
Offering costs - derivative warrant liabilities	`OfferingCostsWarrantsIssuance`	$855.04K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$918.59K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$36.16K	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent1`	$16.50K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$54.05K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedExpensesRealtedParties`	$2.85M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.47M	USD	2 Qtrs
Cash deposited in Trust Account	`PaymentsForInvestmentOfCashInTrustAccount`	$276.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-276.00M	USD	2 Qtrs
Payment of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$500.00K	USD	2 Qtrs
Proceeds received from initial public offering, gross	`ProceedsReceivedFromInitialPublicOfferingGross`	$276.00M	USD	2 Qtrs
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$7.52M	USD	2 Qtrs
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$5.71M	USD	2 Qtrs
Proceeds from convertible note to related party	`ProceedsFromRelatedPartyDebt`	$500.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$277.81M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$339.96K	USD	2 Qtrs
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$161.27K	USD	Point-in-time
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$501.23K	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$161.27K	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$501.23K	USD	Point-in-time
Offering costs included in accrued expenses	`OfferingCostsIncludedInAccountsPayableAccruedExpenses`	$42.87K	USD	2 Qtrs
Deferred underwriting commissions	`Underwritingcommissiondeferred`	$9.66M	USD	2 Qtrs
Initial value of Class A ordinary shares subject to possible redemption	`Commonstocksubjecttopossibleredemptionofnoncashfinancingactivities`	$240.51M	USD	2 Qtrs
Change in value of Class A ordinary shares subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	$-8.04M	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-7.82K	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
Class A ordinary shares subject to possible redemption	`CommonStockSubjectToPossibleRedemptionValue`	$-10.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-8.92M	USD	2 Qtrs
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-7.82K	USD	Point-in-time

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