Nautilus Biotechnology, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Simultaneously with the consummation of the Initial Public Offering and the exercise of the over-allotment option by the underwriters in full, our sponsor purchased 499,000 Private Placement Shares at a price of $10.00 per Private Placement Share, in a private placement that closed simultaneously with the closing of the Initial Public Offering. This issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act and no underwriting discounts or commissions were paid with respect to such sale. In connection with the Initial Public Offering, our sponsor had agreed to loan us an aggregate of up to $300,000 pursuant to the Note. This loan is non-interest bearing and payable on the earlier of December 31, 2020 or the consummation of the Initial Public Offering. As of June 30, 2020, the Company borrowed approximately $63,000 under the Note. Subsequent to June 30, 2020, the Company received the remaining balance of the loan proceeds under the Note of approximately $137,000, for a total of $200,000 balance under the Note. Upon the completion of the Initial Public Offering on August 11, 2020, the Note was fully repaid. Of the gross proceeds received from the Initial Public Offering and the full exercise of the option to purchase additional ordinary shares, $149,500,000 was placed in the Trust Account. The net proceeds of the Initial Public Offering and certain proceeds from the sale of the Private Placement Shares are invested in U.S. government treasury bills with a maturity of 180 days or less and in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. We paid a total of $2,990,000 in underwriting discounts and commissions and approximately $533,000 for other costs and expenses related to the Initial Public Offering. In addition, the underwriters agreed to defer $5,232,500 in underwriting discounts and commissions. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures None.