10-Q/A Filing

OPAL Fuels Inc. CIK: 1842279 Q3 2021

Filing Information

Form Type	10-Q/A
Accession Number	`0001193125-21-340974`
Period End Date	20210930
Filing Date	20211126
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	d198712d10qa_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 31 Income Statement 16 Cash Flow Statement 34 Stockholders Equity 16

Balance Sheet 31 line items

Line Item	Tag	Value	Unit	Period
Temporary equity shares outstanding	`TemporaryEquitySharesOutstanding`	31.12M	shares	Point-in-time
Temporary equity redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Preferred stock, par or stated value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$1.09M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.04M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.13M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$311.17M	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Assets	`Assets`	$313.31M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	7.78M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$200.00K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	7.78M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$77.56K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$277.56K	USD	Point-in-time
Deferred legal fees	`DeferredLegalFees`	$592.36K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionsNoncurrent`	$10.89M	USD	Point-in-time
Derivative warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$16.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.75M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares subject to possible redemption; 31,116,305 shares at redemption value of $10.00	`TemporaryEquityCarryingAmountAttributableToParent`	$311.16M	USD	Point-in-time
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.61M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-34.82M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	-	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-23.21M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-26.61M	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$313.31M	USD	Point-in-time

Income Statement 16 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$750.31K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.27M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.27M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-750.31K	USD	1 Quarter
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$2.00M	USD	3 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-8.96M	USD	1 Quarter
Financing costs - warrant liabilities	`FinancingCostsWarrantLiabilities`	$462.62K	USD	3 Qtrs
Financing costs - warrant liabilities	`FinancingCostsWarrantLiabilities`	-	USD	1 Quarter
Net gain on investments held in Trust Account	`NetGainOnInvestmentsHeldInTrustAccount`	$3.98K	USD	1 Quarter
Net gain on investments held in Trust Account	`NetGainOnInvestmentsHeldInTrustAccount`	$8.44K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$8.96M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.45M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$8.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.72M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-319.78K	USD	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$8.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.72M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-319.78K	USD	1 Quarter
General and administrative expenses paid by related party in exchange for issuance of Class B ordinary shares	`GeneralAndAdministrativeExpensesPaidByRelatedPartyInExchangeOfClassBOrdinaryShares`	$25.00K	USD	3 Qtrs
General and administrative expenses paid by related party under promissory note	`GeneralAndAdministrativeExpensesPaidByRelatedPartyUnderPromissoryNote`	$26.80K	USD	3 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$2.00M	USD	3 Qtrs
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$-8.96M	USD	1 Quarter
Financing costswarrant liabilities	`FinancingCostsWarrantLiabilities`	$462.62K	USD	3 Qtrs
Financing costswarrant liabilities	`FinancingCostsWarrantLiabilities`	-	USD	1 Quarter
Net gain on investments held in Trust Account	`NetGainOnInvestmentsHeldInTrustAccount`	$3.98K	USD	1 Quarter
Net gain on investments held in Trust Account	`NetGainOnInvestmentsHeldInTrustAccount`	$8.44K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.04M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$7.57K	USD	3 Qtrs
Deferred legal fees	`IncreaseDecreaseInDeferredLegalFees`	$-592.36K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.66M	USD	3 Qtrs
Cash deposited in Trust Account	`PaymentsToAcquireRestrictedInvestments`	$311.16M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-311.16M	USD	3 Qtrs
Proceeds from note payable to related party	`ProceedsFromNotesPayable`	$100.00	USD	3 Qtrs
Repayment of note payable to related party	`RepaymentsOfNotesPayable`	$171.74K	USD	3 Qtrs
Proceeds received from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$311.16M	USD	3 Qtrs
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$9.22M	USD	3 Qtrs
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$6.30M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$313.92M	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.09M	USD	3 Qtrs
Cashbeginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cashbeginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cashend of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cashend of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Offering costs included in accounts payable	`OfferingCostsIncludedInAccountsPayable`	$200.00K	USD	3 Qtrs
Offering costs included in accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$70.00K	USD	3 Qtrs
Offering costs paid by related party under promissory note	`OfferingCostsPaidByRelatedPartyUnderPromissoryNote`	$144.84K	USD	3 Qtrs
Deferred underwriting commissions	`DeferredUnderwritingCommissions`	$10.89M	USD	3 Qtrs
Forfeiture of Class B ordinary shares from Sponsor	`ForfeitureOfClassBOrdinarySharesFromSponsor`	$13.00	USD	3 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-34.82M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	-	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-23.21M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-26.61M	USD	Point-in-time
Issuance of Class B ordinary shares to Sponsor	`StockIssuedDuringPeriodValueIssuedForServices`	$25.00K	USD	1 Quarter
Issuance of Class B ordinary shares to Sponsor (Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	25,000.00	shares	3 Qtrs
Accretion on Class A ordinary shares subject to possible redemption	`TemporaryEquityAccretionToRedemptionValue`	$23.09M	USD	1 Quarter
Sale of private placement warrants to Sponsor less fair value of private warrants	`SaleOfPrivatePlacementWarrantsToSponsorLessFairValueOfPrivateWarrants`	$175.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$8.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.72M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-319.78K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$-34.82M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	-	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-23.21M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-26.61M	USD	Point-in-time

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