10-Q Filing

Lucky Strike Entertainment Corp CIK: 1840572 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001213900-21-030261`
Period End Date	20210331
Filing Date	20210601
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	isos-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 11 Cash Flow Statement 27 Stockholders Equity 19

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Current asset - Cash	`Cash`	$2.07M	USD	Point-in-time
Current asset - Cash	`Cash`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$374.91K	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$47.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.50K	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	-	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$254.84M	USD	Point-in-time
Total Assets	`Assets`	$257.28M	USD	Point-in-time
Class A common stock subject to possible redemption	`ClassACommonStockSubjectToPossibleRedemption`	0.00	shares	Point-in-time
Class A common stock subject to possible redemption	`ClassACommonStockSubjectToPossibleRedemption`	22.43M	shares	Point-in-time
Total Assets	`Assets`	$47.50K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accrued offering costs and expenses	`AccruedOfferingCostsAndExpenses`	-	USD	Point-in-time
Accrued offering costs and expenses	`AccruedOfferingCostsAndExpenses`	$5.00K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Promissory note related party	`NotesPayableCurrent`	$22.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.50K	USD	Point-in-time
Warrant liability	`DerivativeLiabilities`	-	USD	Point-in-time
Warrant liability	`DerivativeLiabilities`	$18.86M	USD	Point-in-time
FPA liability	`FPALiability`	$196.97K	USD	Point-in-time
FPA liability	`FPALiability`	-	USD	Point-in-time
Deferred underwriting discount	`DeferredUnderwritingDiscount`	-	USD	Point-in-time
Deferred underwriting discount	`DeferredUnderwritingDiscount`	$8.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.50K	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares subject to possible redemption, 22,431,039 shares and 0 shares at redemption value, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$224.31M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, 22,431,039 shares and 0 shares at redemption value, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	-	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
Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 3,052,661 shares and 0 shares issued and outstanding (excluding 22,431,039 shares and 0 shares subject to possible redemption) at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$305.00	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 3,052,661 shares and 0 shares issued and outstanding (excluding 22,431,039 shares and 0 shares subject to possible redemption) at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	-	USD	Point-in-time
Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 6,370,925 shares and 6,468,750 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValueOne`	$647.00	USD	Point-in-time
Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 6,370,925 shares and 6,468,750 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValueOne`	$637.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.42M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$20.00K	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$47.50K	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$257.28M	USD	Point-in-time

Income Statement 11 line items

Line Item	Tag	Value	Unit	Period
Formation costs	`OperatingCostsAndExpenses`	$94.83K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-94.83K	USD	1 Quarter
Warrant issuance costs	`DerivativeGainLossOnDerivativeNet`	$-638.85K	USD	1 Quarter
Unrealized loss on change in fair value of FPA	`UnrealizedLosOnChangeInFairValueOfFPA`	$-250.92K	USD	1 Quarter
Unrealized loss on change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$-434.14K	USD	1 Quarter
Total other expense	`OperatingExpenses`	$1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Basic and diluted weighted average shares outstanding, ordinary share subject to redemption (in Shares)	`BasicAndDilutedWeightedAverageSharesOutstandingOrdinaryShareSubjectToRedemptionin`	5.72M	shares	1 Quarter
Basic and diluted net income per share (in Dollars per share)	`BasicAndDilutedNetIncomePerShareinDollarsPerShare`	-	USD	1 Quarter
Basic and diluted weighted average shares outstanding, ordinary share (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.84M	shares	1 Quarter
Basic and diluted net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	1 Quarter

Cash Flow Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Unrealized loss on change in fair value of warrants	`UnrealizedLossOnChangeInFairValueOfWarrants`	$434.14K	USD	1 Quarter
Unrealized loss on change in fair value of FPA	`UnrealizedLossOnChangeInFairValueOfFPA`	$250.92K	USD	1 Quarter
Warrant issuance costs	`FormationCostsPaidBySponsorExchangeForIssuanceOfClassBOrdinaryShares`	$638.85K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$374.91K	USD	1 Quarter
Accrued offering costs and expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$145.27K	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$1.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-323.47K	USD	1 Quarter
Investment held in Trust Account	`PaymentsToAcquireInvestments`	$254.84M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-254.84M	USD	1 Quarter
Proceeds from Initial Public Offering, net of underwriters fees	`ProceedsFromIssuanceInitialPublicOffering`	$249.74M	USD	1 Quarter
Proceeds from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$8.10M	USD	1 Quarter
Repayment to promissory note to related party	`RepaymentsOfRelatedPartyDebt`	$125.27K	USD	1 Quarter
Payments of offering costs	`PaymentsOfStockIssuanceCosts`	$479.68K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$257.23M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.07M	USD	1 Quarter
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.07M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.07M	USD	Point-in-time
Deferred underwriting commissions charged to additional paid in capital	`DeferredUnderwritingCommissionsChargedToAdditionalPaidInCapital`	$8.92M	USD	1 Quarter
Initial value of Class A ordinary shares subject to possible redemption	`InitialValueOfClassAOrdinarySharesSubjectToPossibleRedemption`	$198.12M	USD	1 Quarter
Change in value of Class A ordinary shares subject to possible redemption	`ChangeInValueOfClassAOrdinarySharesSubjectToPossibleRedemption`	$26.19M	USD	1 Quarter
Forfeiture of founder shares	`ForfeitureOfFounderShares`	$10.00	USD	1 Quarter
Deferred offering costs paid by Sponsor loan	`DeferredOfferingCostsPaidBySponsorLoan`	$102.77K	USD	1 Quarter
Initial classification of warrant liability	`InitialClassificationOfWarrantLiability`	$18.42M	USD	1 Quarter
Initial classification of FPA	`InitialClassificationOfFPA`	$53.95K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Initial public offering	`InitialPublicOfferings`	22.50M	shares	1 Quarter
Sale of over-allotment	`SaleOfOverallotments`	2.98M	shares	1 Quarter
Sale of Private Placement Warrants to Sponsor in private placement	`SaleOfPrivatePlacementWarrantsToSponsorInPrivatePlacement`	5.40M	shares	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.00K	USD	Point-in-time
Sale of 22,500,000 Units through initial public offering	`StockIssuedDuringPeriodValueNewIssues`	$225.00M	USD	1 Quarter
Sale of 2,983,700 Units through over-allotment	`StockIssuedDuringPeriodValueIssuedOverallotment`	$29.84M	USD	1 Quarter
Sale of 5,397,828 Private Placement Warrants to Sponsor in private placement	`StockIssuedDuringPeriodValueIssuedForServices`	$8.10M	USD	1 Quarter
Underwriting fee	`StockIssuedDuringSaleOfUnderwritingFees`	$-5.10M	USD	1 Quarter
Deferred underwriting fee	`StockissuedduringsaleofDeferredunderwritingFees`	$-8.92M	USD	1 Quarter
Offering costs charged to the shareholders equity	`OfferingCostsChargedToTheShareholdersEquity`	$-479.68K	USD	1 Quarter
Initial classification of warrant liability	`InitialClassificationOfWarrantLiability`	$18.42M	USD	1 Quarter
Reclassification of offering costs related to warrants	`StockIssuedDuringPeriodValueOther`	$638.85K	USD	1 Quarter
Initial classification of FPA	`InitialClassificationOfFPA`	$53.95K	USD	1 Quarter
Forfeiture of founder shares	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Change in Class A ordinary shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$224.31M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.00K	USD	Point-in-time

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