PROKIDNEY CORP. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Market Information Our Class A ordinary shares trade on The Nasdaq Capital Market under the symbols “DNAC”. Holders As of March 23, 2022, there was two holders of record of our Class A ordinary shares, and two holders of record of our Class B ordinary shares. Dividends We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial Business Combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial Business Combination. The payment of any cash dividends subsequent to our initial Business Combination will be within the discretion of our board of directors at such time. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Offerings On July 2, 2021, we consummated the Initial Public Offering of 25,000,000 public shares, which includes a partial exercise by the underwriters of their over-allotment option in the amount of 3,000,000 public shares. The public shares were sold at an offering price of $10.00 per public share, generating total gross proceeds of $250,000,000. Morgan Stanley acted as sole book-running manager and SoFi acted as co-manager, of the Initial Public Offering. The securities sold in the offering were registered under the Securities Act on registration statements on Form S-1 (No. 333-256725 and 333-257545). The registration statements became effective on June 29, 2021 and June 30, 2021. Substantially concurrently with the consummation of the Initial Public Offering, we consummated the private placement of an aggregate of 640,000 private placement shares at a price of $10.00 per private placement share, generating total proceeds of $6,400,000. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. Of the gross proceeds received from the Initial Public Offering, the exercise of the over-allotment option and the private placement shares, an aggregate of $250,000,000 was placed in the Trust Account. We paid a total of $4,400,000 in underwriting discounts and commissions and $379,666 for other costs and expenses related to the Initial Public Offering. In addition, the underwriters agreed to defer $7,700,000 in underwriting discounts and commissions. 41 Table of Contents For a description of the use of the proceeds generated in our Initial Public Offering, see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations”. Purchases of equity securities by the issuer and affiliated purchasers The Company has not made any repurchases of its equity securities in the time period covered by this Annual Report. Item 6. [Reserved].