10-Q Filing

Lucky Strike Entertainment Corp CIK: 1840572 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001213900-21-058934`
Period End Date	20210930
Filing Date	20211115
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	f10q0921_isosacq_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 24 Cash Flow Statement 30 Stockholders Equity 28

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$205.48K	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	-	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$47.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.42M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$254.85M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	-	USD	Point-in-time
Prepaid expenses, non-current	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Prepaid expenses, non-current	`PrepaidExpenseNoncurrent`	$79.11K	USD	Point-in-time
Total Assets	`Assets`	$256.35M	USD	Point-in-time
Total Assets	`Assets`	$47.50K	USD	Point-in-time
Preference shares, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued offering costs and expenses	`AccruedOfferingCostsAndExpenses`	$220.96K	USD	Point-in-time
Preference shares, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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
Preference shares, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preference shares, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.00K	USD	Point-in-time
Preference shares, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preference shares, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Promissory note - related party	`NotesPayableCurrent`	-	USD	Point-in-time
Promissory note - related party	`NotesPayableCurrent`	$22.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$221.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.50K	USD	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Forward Purchase Agreement liability	`ForwardPurchaseAgreementLiability`	$4.23M	USD	Point-in-time
Forward Purchase Agreement liability	`ForwardPurchaseAgreementLiability`	-	USD	Point-in-time
Warrant liability	`DerivativeLiabilities`	-	USD	Point-in-time
Warrant liability	`DerivativeLiabilities`	$19.23M	USD	Point-in-time
Deferred underwriting fees	`DeferredUnderwritingDiscount`	$8.92M	USD	Point-in-time
Deferred underwriting fees	`DeferredUnderwritingDiscount`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$32.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.50K	USD	Point-in-time
Commitments and Contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares subject to possible redemption, 25,483,700 shares and 0 shares at redemption value, at September 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$254.84M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, 25,483,700 shares and 0 shares at redemption value, at September 30, 2021 and December 31, 2020, 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; 0 shares and 0 shares issued and outstanding (excluding 25,483,700 shares and 0 shares subject to possible redemption) at September 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	-	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 0 shares and 0 shares issued and outstanding (excluding 25,483,700 shares and 0 shares subject to possible redemption) at September 30, 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 September 30, 2021 and December 31, 2020, respectively	`CommonStockValueOne`	$637.00	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 September 30, 2021 and December 31, 2020, respectively	`CommonStockValueOne`	$647.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.35K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.10M	USD	Point-in-time
Total shareholders (deficit) equity	`StockholdersEquity`	$-31.10M	USD	Point-in-time
Total shareholders (deficit) equity	`StockholdersEquity`	$20.00K	USD	Point-in-time
Total shareholders (deficit) equity	`StockholdersEquity`	$-25.13M	USD	Point-in-time
Total shareholders (deficit) equity	`StockholdersEquity`	$-22.33M	USD	Point-in-time
Total Liabilities and Shareholders (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$47.50K	USD	Point-in-time
Total Liabilities and Shareholders (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$256.35M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$785.49K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.26M	USD	3 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-1.26M	USD	3 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-785.49K	USD	1 Quarter
Trust interest income	`InvestmentIncomeInterest`	$7.39K	USD	3 Qtrs
Trust interest income	`InvestmentIncomeInterest`	$3.85K	USD	1 Quarter
Warrant issuance costs	`DerivativeGainLossOnDerivativeNet`	$-638.85K	USD	3 Qtrs
Warrant issuance costs	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Unrealized loss on change in fair value of FPA	`UnrealizedLosOnChangeInFairValueOfFPA`	$-2.21M	USD	1 Quarter
Unrealized loss on change in fair value of FPA	`UnrealizedLosOnChangeInFairValueOfFPA`	$-3.67M	USD	3 Qtrs
Unrealized loss on change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$-811.51K	USD	3 Qtrs
Unrealized loss on change in fair value of warrants	`UnrealizedGainLossOnDerivatives`	$-5.27M	USD	1 Quarter
Total other expense	`OperatingExpenses`	$7.47M	USD	1 Quarter
Total other expense	`OperatingExpenses`	$5.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.37M	USD	3 Qtrs
Basic and diluted weighted average shares outstanding, ordinary share subject to redemption (in Shares)	`BasicAndDilutedWeightedAverageSharesOutstandingOrdinaryShareSubjectToRedemptionin`	19.45M	shares	3 Qtrs
Basic and diluted weighted average shares outstanding, ordinary share subject to redemption (in Shares)	`BasicAndDilutedWeightedAverageSharesOutstandingOrdinaryShareSubjectToRedemptionin`	25.48M	shares	1 Quarter
Basic and diluted net loss per ordinary share (in Dollars per share)	`BasicAndDilutedNetIncomePerShareinDollarsPerShare`	$-0.26	USD	1 Quarter
Basic and diluted net loss per ordinary share (in Dollars per share)	`BasicAndDilutedNetIncomePerShareinDollarsPerShare`	$-0.26	USD	3 Qtrs
Basic and diluted weighted average shares outstanding, ordinary share (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.18M	shares	3 Qtrs
Basic and diluted weighted average shares outstanding, ordinary share (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.37M	shares	1 Quarter
Basic and diluted net loss per ordinary share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	3 Qtrs
Basic and diluted net loss per ordinary share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.37M	USD	3 Qtrs
Trust interest income	`InvestmentIncomeInterest`	$7.39K	USD	3 Qtrs
Trust interest income	`InvestmentIncomeInterest`	$3.85K	USD	1 Quarter
Unrealized loss on change in fair value of FPA	`UnrealizedLossOnChangeInFairValueOfFPA`	$3.67M	USD	3 Qtrs
Unrealized gain on change in fair value of warrants	`UnrealizedLossOnChangeInFairValueOfWarrants`	$811.51K	USD	3 Qtrs
Warrant issuance costs	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$638.85K	USD	3 Qtrs
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$284.59K	USD	3 Qtrs
Accrued offering cost and expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$366.23K	USD	3 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$1.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.18M	USD	3 Qtrs
Investment held in Trust Account	`PaymentsToAcquireInvestments`	$254.84M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-254.84M	USD	3 Qtrs
Proceeds from Initial Public Offering, net of underwriters fees	`ProceedsFromIssuanceInitialPublicOffering`	$249.74M	USD	3 Qtrs
Proceeds from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$8.10M	USD	3 Qtrs
Repayment of promissory note to related party	`RepaymentsOfRelatedPartyDebt`	$125.27K	USD	3 Qtrs
Payments of offering costs	`PaymentsOfStockIssuanceCosts`	$479.68K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$257.23M	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.22M	USD	3 Qtrs
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Deferred underwriting commissions charged to additional paid in capital	`DeferredUnderwritingCommissionsChargedToAdditionalPaidInCapital`	$8.92M	USD	3 Qtrs
Initial value of Class A ordinary shares subject to possible redemption	`InitialValueOfClassAOrdinarySharesSubjectToPossibleRedemption`	$254.84M	USD	3 Qtrs
Change in value of Class A ordinary shares subject to possible redemption	`ChangeInValueOfClassAOrdinarySharesSubjectToPossibleRedemption`	$7.39K	USD	3 Qtrs
Forfeiture of founder shares	`ForfeitureOfFounderShares`	$10.00	USD	3 Qtrs
Deferred offering costs paid by Sponsor loan	`DeferredOfferingCostPaidBySponsorLoan`	$102.77K	USD	3 Qtrs
Initial classification of warrant liability	`InitialClassificationOfWarrantLiabilities`	$18.42M	USD	3 Qtrs
Initial classification of FPA liability	`InitialClassificationsOfFPALiability`	$-558.09K	USD	3 Qtrs

Stockholders Equity 28 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`	$-31.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$-25.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$-22.33M	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 liability	`InitialClassificationOfFPA`	$-53.95K	USD	1 Quarter
Initial classification of FPA liability	`InitialClassificationOfFPA`	$-504.14K	USD	1 Quarter
Forfeiture of founder shares	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$2.80M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-916.89K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-8.26M	USD	1 Quarter
Change in Class A ordinary shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$3.85K	USD	1 Quarter
Change in Class A ordinary shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$254.84M	USD	1 Quarter
Change in Class A ordinary shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$3.54K	USD	1 Quarter
Balance	`StockholdersEquity`	$-31.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$-25.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$-22.33M	USD	Point-in-time

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