10-Q Filing

TEVOGEN BIO HOLDINGS INC. CIK: 1860871 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001410578-23-001349`
Period End Date	20230331
Filing Date	20230522
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	lgstu-20230331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 14 Cash Flow Statement 29 Stockholders Equity 12

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$52.28K	USD	Point-in-time
Cash	`Cash`	$129.19K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$44.78K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$145.17K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$97.06K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$274.36K	USD	Point-in-time
Preferred stock, par value (In Dollar per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (In Dollar per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$25.37M	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$356.86M	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$25.00M	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$25.47M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$357.14M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$210.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$485.07K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrent`	$182.00K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrent`	$140.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$350.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$667.07K	USD	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$7.25K	USD	Point-in-time
Derivative warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$58.00K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredOfferingCostsNoncurrent`	$14.70M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredOfferingCostsNoncurrent`	$14.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.06M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.33M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-14.78M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-15.33M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-14.25M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-14.23M	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$25.47M	USD	Point-in-time
TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$357.14M	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$282.88K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$493.91K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$282.88K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$493.91K	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$1.78M	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$140.89K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$50.75K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-116.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$256.89K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$1.73M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-25.99K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Weighted average shares outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.95M	shares	1 Quarter
Dilution net income (loss) per share	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$1.24M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-25.99K	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$1.78M	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$140.89K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$50.75K	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$-116.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-50.22K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-100.39K	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliatesCurrent`	$42.00K	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliatesCurrent`	$30.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$274.62K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$89.62K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-113.03K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-76.90K	USD	1 Quarter
Cash withdrawn from Trust Account in connection with redemption	`ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption`	$333.27M	USD	1 Quarter
Net cash flows provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$333.27M	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$333.27M	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-333.27M	USD	1 Quarter
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-76.90K	USD	1 Quarter
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-113.03K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$344.58K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.28K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$231.55K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.19K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$344.58K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.28K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$231.55K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.19K	USD	Point-in-time
Remeasurement for redeemable shares to redemption value	`TemporaryEquityAccretionToRedemptionValue`	$1.78M	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$-14.78M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-15.33M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-14.25M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-14.23M	USD	Point-in-time
Conversion of Class B shares	`ConversionOfStockAmountConverted1`	-	USD	1 Quarter
Accretion of carrying value to redemption value	`AccretionOfCarryingValueToRedemptionValue`	$-1.78M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-25.99K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Balance at the end	`StockholdersEquity`	$-14.78M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-15.33M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-14.25M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-14.23M	USD	Point-in-time

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