−Removed: Quantitative and Qualitative
−Removed: Disclosures About Market Risk
−Removed: As of December 31, 2020, we were not
−Removed: subject to any market or interest rate risk.
−Removed: To date, our efforts have been limited to organizational activities and activities
−Removed: relating to the public offering and the identification and evaluation of prospective acquisition targets for a Business Combination.
−Removed: We have neither engaged in any operations nor generated any revenues.
−Removed: At December 31, 2020, the net proceeds from our public
−Removed: offering and the sale of the Sponsor Warrants held in the Trust Account were comprised entirely of cash.
−Removed: On October 14, 2020
−Removed: we invested the funds held in the Trust Account in U.S.
−Removed: government securities with a maturity of 185 days or less or in money market
−Removed: funds that meet certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, that invest solely
−Removed: in direct U.S.
−Removed: government treasury obligations.
−Removed: Due to the short-term nature of those investments, we believe there was no associated
−Removed: material exposure to interest rate risk.
−Removed: At December 31, 2020, $500,078,624
−Removed: was held in the Trust Account for the purposes of consummating a Business Combination.
−Removed: If we complete a Business Combination before
−Removed: October 14, 2022, the funds in the Trust Account will be used to pay for the Business Combination, redemptions of Class A
−Removed: common stock, if any, deferred underwriting compensation of $17,500,000 and accrued expenses related to the Business Combination.
−Removed: Any funds remaining will be made available to us to provide working capital to finance our operations.
−Removed: The Company has not engaged in any hedging
−Removed: activities since its inception.
−Removed: We do not expect to engage in any hedging activities with respect to the market risk to which we
+Added: Item 7A – Quantitative and Qualitative Disclosures About Market Risk.
+Added: Interest Rate Exposure
+Added: We are exposed to the impact of interest rate changes as borrowings under the Senior Facilities bear interest at variable interest rates.
+Added: It is our policy to enter into interest rate swap only to the extent considered necessary to meet our objectives.
+Added: Based on our exposure to variable rate borrowings at December 25, 2021, after consideration of our LIBOR floor rate and interest rate swap agreements, a one percent (1%) change in the weighted average interest rate for a period of one year would change the annual interest expense by approximately $5.2 million.
+Added: Foreign Currency Exchange
+Added: We are exposed to foreign exchange rate changes of the Canadian and Mexican currencies as it impacts the $169.9 million tangible and intangible net asset value of our Canadian and Mexican subsidiaries as of December 25, 2021.
+Added: The foreign subsidiaries net tangible assets were $107.6 million and the net intangible assets were $62.3 million as of December 25, 2021.
+Added: We utilize foreign exchange forward contracts to manage the exposure to currency fluctuations in the Canadian dollar versus the U.S.
+Added: See Note 15 - Derivatives and Hedging of the Notes to Consolidated Financial Statements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.