Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our units began to trade on The Nasdaq Capital Market, or Nasdaq, under the symbol “ATSPU” on March 11, 2021. The subunits and warrants comprising the units began separate trading on Nasdaq on April 14, 2021, under the symbols “ATSPT” and “ATSPW”, respectively.
Holders of Record
As
of December 31, 2021, there were 17,461,000 of our shares of common stock issued and outstanding held by 24 stockholders of record.
The number of record holders was determined from the records of our transfer agent and does not include beneficial owners of shares of
common stock whose shares are held in the names of various security brokers, dealers, and registered clearing agencies.
Dividends
We have not paid any cash dividends on our common
stock to date and do not intend to pay cash dividends prior to the completion of an 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 a business combination. The payment of any dividends subsequent to a business combination will be within the
discretion of our board of directors at such time. It is the present intention of our board of directors to retain all earnings, if any,
for use in our business operations and, accordingly, our board of directors does not anticipate declaring any dividends in the foreseeable
future. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the
foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we
may agree to in connection therewith.
Securities Authorized for Issuance Under Equity Compensation Plans
None.
Recent Sales of Unregistered Securities
None.
Use of Proceeds
On March 15, 2021, the Company consummated its
IPO of 12,000,000 units (the “Public Units”). Each Public Unit consists of i) one subunit (the “Public Subunit”),
which consists of one share of common stock (the “Public Share”) and one-quarter of one warrant (the “Public Warrant”)
and ii) one-quarter of one Public Warrant, with each whole warrant entitling the holder thereof to purchase one share of common stock,
par value $0.0001 per share, for $11.50 per share. The Public Units were sold at a price of $10.00 per unit, generating gross proceeds
to the Company of $120,000,000. The Company paid the underwriters, in aggregate, a fixed underwriting discount of $2,400,000. The Company
granted the underwriters a 45-day option from the date of the IPO to purchase up to an additional 1,800,000 Public Units to cover over-allotments.
On March 15, 2021, simultaneously with the consummation
of the IPO, the Company completed the private placement (the “Private Placement”) of an aggregate of 390,000 units (the “Private
Units”) to the Sponsor and EarlyBirdCapital, Inc. (“EarlyBirdCapital”) at a purchase price of $10.00 per Private Unit,
generating gross proceeds to the Company of $3,900,000.
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On
March 19, 2021, the underwriters partially exercised the over-allotment option to purchase 1,300,000 Public Units. The Public Units were
sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $13,000,000. The Company paid the underwriters, in aggregate,
a fixed underwriting discount of $260,000. Simultaneously with the exercise of the over-allotment option, the Company completed the Private
Placement of an aggregate of 26,000 Private Units to the Sponsor and EarlyBirdCapital, at a purchase price of $10.00 per Private Unit,
generating gross proceeds to the Company of $260,000.
As of December 31, 2021, a total of $133,010,583
was held in the trust account (the “Trust Account”), $133,000,000 of which is the proceeds from the IPO and Private Placement
and $10,583 of which was interest income generated by the proceeds in Trust.
For a description of the use of the proceeds generated in our initial public offering, see below Part II, Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Form 10-K.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
ITEM 6.
[RESERVED]
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