10-K Filing

STRATA CRITICAL MEDICAL, INC. CIK: 1779128 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001104659-20-036828`
Period End Date	20191231
Filing Date	20200320
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	expcu-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 24 Income Statement 11 Cash Flow Statement 23 Stockholders Equity 13

Balance Sheet 24 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.18M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$125.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.43M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$276.26M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$277.69M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$136.69K	USD	Point-in-time
Accrued offering costs	`AccruedOfferingCosts`	$26.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$208.61K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$371.31K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$9.62M	USD	Point-in-time
Total Liabilities	`Liabilities`	$10.00M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 26,180,927 shares at redemption value	`TemporaryEquityCarryingAmountAttributableToParent`	$262.70M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$784.78K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$277.69M	USD	Point-in-time

Income Statement 11 line items

Line Item	Tag	Value	Unit	Period
Operating and formation costs	`OperatingExpenses`	$268.21K	USD	2 Qtrs
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.18M	shares	Point-in-time
Loss from operations	`OperatingIncomeLoss`	$-268.21K	USD	2 Qtrs
Dividend income attributable to common stock subject to possible redemption	`DividendIncomeAttributableToCommonStockSubjectToPossibleRedemption`	$-886.59K	USD	2 Qtrs
Dividend income on marketable securities held in Trust Account	`InvestmentIncomeDividend`	$1.26M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$993.39K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$208.61K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$208.61K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$784.78K	USD	2 Qtrs
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.17M	shares	2 Qtrs
Basic and diluted net income per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs

Cash Flow Statement 23 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$784.78K	USD	2 Qtrs
Dividend income earned on marketable securities held in Trust Account	`InvestmentIncomeDividend`	$1.26M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$125.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$136.69K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$208.61K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-256.51K	USD	2 Qtrs
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	$275.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-275.00M	USD	2 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceInitialPublicOffering`	$269.50M	USD	2 Qtrs
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfWarrants`	$7.50M	USD	2 Qtrs
Proceeds from promissory notes - related party	`ProceedsFromRelatedPartyDebt`	$231.37K	USD	2 Qtrs
Repayment of promissory notes - related party	`RepaymentsOfRelatedPartyDebt`	$231.37K	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$437.88K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$276.56M	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.31M	USD	2 Qtrs
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	Point-in-time
Deferred offering costs paid directly by Sponsor from proceeds of issuance of Class B common stock to Sponsor	`DeferredOfferingCostsPaidDirectlyBySponsorFromProceedsOfIssuanceOfCommonStockToSponsorNonCashActivities`	$25.00K	USD	2 Qtrs
Initial classification of common stock subject to possible redemption	`InitialClassificationOfCommonStockSubjectToPossibleRedemptionNonCashActivities`	$261.91M	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemptionNonCashActivities`	$786.07K	USD	2 Qtrs
Deferred underwriting fee payable	`DeferredUnderwritingFeePayableNonCashActivities`	$9.62M	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	-	USD	Point-in-time
Issuance of Founder Shares to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	2 Qtrs
Issuance of Founder Shares to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Issuance of Founder Shares to Sponsor (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	7.19M	shares	Point-in-time
Forfeiture of Founder Shares	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	2 Qtrs
Forfeiture of Founder Shares (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	312,500.00	shares	Annual
Sale of 27,500,000 Units, net of underwriting discount and offering expenses	`StockIssuedDuringPeriodValueIssuanceOfUnitsNetOfExpenses`	$259.39M	USD	2 Qtrs
Sale of 5,000,000 Private Placement Warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$7.50M	USD	2 Qtrs
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$262.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$784.78K	USD	2 Qtrs
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.