2 unchanged sentences
Our units, Class A common stock and warrants are listed on the Nasdaq Capital Market under the symbols “LMAOU”, “LMAO” and “LMAOW”, respectively.
−Removed: Our units began public trading on January 26, 2021 and our Class A common stock and warrants began public trading on March 18, 2021.
−Removed: As of March 15, 2021 there were 60 holders of record of our units, 0 holders of record of our separately traded Class A common stock, 0 holders of record of our separately traded warrants, and one holder of record of our Class B common stock.
+Added: Securities Authorized for Issuance Under Equity Compensation Plans
+Added: On December 31, 2021 there were 1 holders of record of our units, 2 holders of record of our Class A common stock, and 1 holders of record of our warrants.
We have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends in the foreseeable future.
3 unchanged sentences
Further, if we incur any indebtedness in connection with our business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.
+Added: Securities Authorized for Issuance Under Equity Compensation Plans
+Added: See “Equity Compensation Plan Information” in Part III, Item 12 of this Annual Report on Form 10-K.
Recent Sales of Unregistered Securities
−Removed: Use of Proceeds from Registered Offering
−Removed: On November 6, 2020, we issued 2,156,250 shares of our Class B common stock, to our sponsor for $25,000 in cash, at a purchase price of approximately $0.012 per share, in connection with our formation.
−Removed: Such shares were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.
−Removed: On January 28, 2021, we consummated our initial public offering of 10,350,000 units.
−Removed: Each unit consists of one share of our Class A common stock and one redeemable warrant, with each warrant entitling the holder thereof to purchase one share of Class A common stock for $11.50 per share.
−Removed: The units were sold at a price of $10.00 per unit, generating gross proceeds of $103,500,000.
−Removed: Maxim Group LLC acted as sole book-running manager.
−Removed: The securities sold in the initial public offering were registered under the Securities Act on a Registration Statement on Form S-1 (No.
−Removed: 333-251962), which was declared effective by the SEC on January 25, 2021.
−Removed: Simultaneously with the closing of our initial public offering, we consummated a private placement of 5,738,000 private placement warrants, at a price of $1.00 per private placement warrant, to our sponsor, generating gross proceeds of $5,738,000.
−Removed: Such securities were issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.
−Removed: Following the closing of our initial public offering and the sale of the private placement warrants, an aggregate amount of $105,570,00 (which amount includes the deferred underwriting discount) was placed in a trust account established in connection with the initial public offering.
−Removed: Transaction costs amounted to $6,233,747, consisting of $2,070,00 in underwriting discount, $3,622,500 in deferred underwriting discount, the fair value of the shares issued to the underwriters of $1,000 deemed as underwriters’ compensation, and $540,247 of other offering costs.
−Removed: In addition, $974,008 of cash is held outside of the trust account and is available for the payment of offering costs and for working capital purposes.
−Removed: We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account not previously released to us (less taxes payable) to complete our initial business combination.
−Removed: We may withdraw interest to pay our franchise and income taxes.
−Removed: To the extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination, we may apply the balance of the cash released to us from the
−Removed: trust account for general corporate purposes, including for maintenance or expansion of operations of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing our initial business combination, to fund the purchase of other companies or for working capital .
−Removed: We intend to use the funds held outside the trust account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate, complete a business combination, and implement our plan of dissolution.
Purchases of Equity Securities by the Issuer
−Removed: Selected Financial Data
−Removed: Not applicable
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.