10-Q Filing

HILLMAN SOLUTIONS CORP. CIK: 1822492 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001104659-21-097614`
Period End Date	20210630
Filing Date	20210729
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	tmb-20210630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 42 Cash Flow Statement 36 Stockholders Equity 14

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Redeemable shares issued (in shares)	`TemporaryEquitySharesIssued`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$85.48K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$105.84K	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$132.43K	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$217.92K	USD	Point-in-time
Preferred stock authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.12M	USD	Point-in-time
Cash and marketable securities held in trust	`AssetsHeldInTrustNoncurrent`	$500.08M	USD	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and marketable securities held in trust	`AssetsHeldInTrustNoncurrent`	$500.01M	USD	Point-in-time
Preferred stock issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Preferred stock outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Total assets	`Assets`	$501.20M	USD	Point-in-time
Total assets	`Assets`	$500.23M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	401.00M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$127.45K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$113.02K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$113.02K	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`	$74.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$73.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$92.45M	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, 40,276,690 and 42,278,793 shares, respectively, at redemption value of $10.00 per share	`TemporaryEquityCarryingAmountAttributableToParent`	$422.85M	USD	Point-in-time
Class A common stock subject to possible redemption, 40,276,690 and 42,278,793 shares, respectively, at redemption value of $10.00 per share	`TemporaryEquityCarryingAmountAttributableToParent`	$500.00M	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`	$33.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-92.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-92.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$501.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$500.23M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	-	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$481.78K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$990.70K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	-	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-990.70K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-481.78K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$12.62K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$31.54K	USD	2 Qtrs
Gain (loss) on warrant derivative liability	`FairValueAdjustmentOfWarrants`	$19.12M	USD	2 Qtrs
Gain (loss) on warrant derivative liability	`FairValueAdjustmentOfWarrants`	$30.33M	USD	1 Quarter
Gain (loss) on warrant derivative liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Gain (loss) on warrant derivative liability	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-30.32M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-19.09M	USD	2 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	-	USD	2 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	-	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-30.80M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-20.08M	USD	2 Qtrs
Tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$10.72M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	-	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-30.80M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-20.08M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	-	USD	1 Quarter
Net loss per share available to common shares	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share available to common shares	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss per share available to common shares	`EarningsPerShareBasicAndDiluted`	$-1.82	USD	1 Quarter
Net loss per share available to common shares	`EarningsPerShareBasicAndDiluted`	$-1.09	USD	2 Qtrs
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`	16.95M	shares	1 Quarter
Basic and diluted weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.39M	shares	2 Qtrs
Basic and diluted weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.04M	shares	2 Qtrs

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$10.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-20.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	-	USD	1 Quarter
Trust account interest income	`InterestIncomeFromTrustAccount`	-	USD	2 Qtrs
Trust account interest income	`InterestIncomeFromTrustAccount`	$31.54K	USD	2 Qtrs
(Gain) loss on warrant derivative liability	`FairValueAdjustmentOfWarrants`	$19.12M	USD	2 Qtrs
(Gain) loss on warrant derivative liability	`FairValueAdjustmentOfWarrants`	$30.33M	USD	1 Quarter
(Gain) loss on warrant derivative liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
(Gain) loss on warrant derivative liability	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$26.59K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.43K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.03M	USD	2 Qtrs
Cash withdrawn from trust account for tax payments	`PaymentsForTaxPayment`	$99.80K	USD	2 Qtrs
Cash withdrawn from trust account for tax payments	`PaymentsForTaxPayment`	-	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$99.80K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-931.92K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	2 Qtrs
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`	-	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$85.48K	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`	-	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$85.48K	USD	Point-in-time
Change in value of common shares subject to possible conversion	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	$-77.15M	USD	2 Qtrs
Change in value of common shares subject to possible conversion	`ChangeInValueOfCommonStockSubjectToPossibleRedemption`	-	USD	2 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$-92.22M	USD	Point-in-time
Class A shares subject to redemption	`CommonStockSubjectToPossibleRedemptionValue`	$66.43M	USD	1 Quarter
Class A shares subject to redemption	`CommonStockSubjectToPossibleRedemptionValue`	$10.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$10.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-20.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$-92.22M	USD	Point-in-time

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