10-Q Filing

HILLMAN SOLUTIONS CORP. CIK: 1822492 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001104659-21-064510`
Period End Date	20210331
Filing Date	20210511
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	lcyau-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 20 Cash Flow Statement 30 Stockholders Equity 11

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$510.86K	USD	Point-in-time
Preferred stock authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$119.72K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$105.84K	USD	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$630.58K	USD	Point-in-time
Cash and marketable securities held in trust	`AssetsHeldInTrustNoncurrent`	$500.08M	USD	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and marketable securities held in trust	`AssetsHeldInTrustNoncurrent`	$500.03M	USD	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	401.00M	shares	Point-in-time
Total assets	`Assets`	$501.20M	USD	Point-in-time
Total assets	`Assets`	$500.66M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$72.31K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$127.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$72.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$127.45K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCompensationNoncurrent`	$17.50M	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCompensationNoncurrent`	$17.50M	USD	Point-in-time
Warrant derivative liability	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$55.72M	USD	Point-in-time
Warrant derivative liability	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$44.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$62.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$73.35M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 43,355,173 and 42,278,793 shares, respectively, at redemption value of $10.00	`TemporaryEquityCarryingAmountAttributableToParent`	$433.57M	USD	Point-in-time
Class A common stock subject to possible redemption, 43,355,173 and 42,278,793 shares, respectively, at redemption value of $10.00	`TemporaryEquityCarryingAmountAttributableToParent`	$422.85M	USD	Point-in-time
Preferred stock, $0.0001 par value, 1,000,000 authorized, no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 1,000,000 authorized, no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.17M	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	-	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	-	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$500.66M	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$501.20M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$508.92K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-508.92K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$18.92K	USD	1 Quarter
Change in fair value of warrant derivative liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant derivative liability	`FairValueAdjustmentOfWarrants`	$-11.21M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$11.23M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	-	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.72M	USD	1 Quarter
Tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income	`NetIncomeLoss`	-	USD	1 Quarter
Net Income	`NetIncomeLoss`	$10.72M	USD	1 Quarter
Net income per share available to common shares	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net income per share available to common shares	`EarningsPerShareBasicAndDiluted`	$0.54	USD	1 Quarter
Basic and diluted weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.04M	shares	1 Quarter
Basic and diluted weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.85M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.72M	USD	1 Quarter
Trust account interest income	`InterestIncomeFromTrustAccount`	$18.92K	USD	1 Quarter
Trust account interest income	`InterestIncomeFromTrustAccount`	-	USD	1 Quarter
Change in fair value of warrant derivative liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant derivative liability	`FairValueAdjustmentOfWarrants`	$-11.21M	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$13.88K	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-55.13K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-577.93K	USD	1 Quarter
Cash withdrawn from trust account for tax payments	`PaymentsForTaxPayment`	$71.39K	USD	1 Quarter
Cash withdrawn from trust account for tax payments	`PaymentsForTaxPayment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$71.39K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-506.54K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$510.86K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$510.86K	USD	Point-in-time
Change in value of common shares subject to possible conversion	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	-	USD	1 Quarter
Change in value of common shares subject to possible conversion	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	$10.72M	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Class A shares subject to redemption	`CommonStockSubjectToPossibleRedemptionValue`	$10.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.72M	USD	1 Quarter
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

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