10-K Filing

UWM HOLDINGS CORP CIK: 1783398 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001564590-21-014601`
Period End Date	20201231
Filing Date	20210322
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	uwmc-10k_20201231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 14 Cash Flow Statement 34 Stockholders Equity 13

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Class A subject to possible redemption, shares	`TemporaryEquitySharesIssued`	40.05M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.57K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.12K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred offering costs associated with public offering	`DeferredOfferingCosts`	$411.37K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$183.89K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$234.46K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$412.49K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$425.33M	USD	Point-in-time
Total assets	`Assets`	$412.49K	USD	Point-in-time
Total assets	`Assets`	$425.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.92M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$274.67K	USD	Point-in-time
State franchise tax accrual	`AccrualForStateFranchiseTaxesCurrent`	$1.83K	USD	Point-in-time
State franchise tax accrual	`AccrualForStateFranchiseTaxesCurrent`	$200.00K	USD	Point-in-time
Notes and advances payable related party	`DueToRelatedPartiesCurrent`	$1.00M	USD	Point-in-time
Notes and advances payable related party	`DueToRelatedPartiesCurrent`	$150.00K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$81.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$426.50K	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$14.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$426.50K	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, 40,049,294 and -0- shares at December 31, 2020 and December 31, 2019, respectively (at redemption value of $10 per share)	`TemporaryEquityCarryingAmountAttributableToParent`	$400.49M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$23.85K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$10.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.00K	USD	Point-in-time
Total stockholders equity/(deficit)	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders equity/(deficit)	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders equity/(deficit)	`StockholdersEquity`	$-14.00K	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$425.57M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$412.49K	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$6.63M	USD	Annual
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$37.17K	USD	2 Qtrs
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$1.83K	USD	2 Qtrs
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$200.00K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-6.83M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-39.00K	USD	2 Qtrs
Other income - interest income	`InvestmentIncomeInterest`	$1.10M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-39.00K	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.73M	USD	Annual
Provision for income tax	`IncomeTaxExpenseBenefit`	$81.00K	USD	Annual
Net loss attributable to common shares	`NetIncomeLoss`	$-39.00K	USD	2 Qtrs
Net loss attributable to common shares	`NetIncomeLoss`	$-5.81M	USD	Annual
Class A and Class F common shares - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Class A and Class F common shares - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	Annual

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`ProfitLoss`	$-39.00K	USD	2 Qtrs
Net income/(loss)	`ProfitLoss`	$-5.81M	USD	Annual
Changes in state franchise tax accrual	`IncreaseDecreaseInAccrualForStateFranchiseTaxesCurrent`	$198.17K	USD	Annual
Changes in state franchise tax accrual	`IncreaseDecreaseInAccrualForStateFranchiseTaxesCurrent`	$1.83K	USD	2 Qtrs
Changes in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$183.89K	USD	Annual
Changes in income taxes payable and deferred	`IncreaseDecreaseInIncomeTaxes`	$81.00K	USD	Annual
Changes in deferred offering costs	`IncreaseDecreaseInDeferredCharges`	$411.37K	USD	2 Qtrs
Changes in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$274.67K	USD	2 Qtrs
Changes in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.91M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-173.88K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.80M	USD	Annual
Cash deposited in Trust Account	`PaymentToCashDepositedInTrustAccount`	$425.00M	USD	Annual
Interest reinvested in Trust Account	`PaymentsToInterestAndDividendsReinvestedInTrustAccount`	$331.31K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-425.33M	USD	Annual
Proceeds from sale of Units in initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$425.00M	USD	Point-in-time
Proceeds from sale of Units in initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$425.00M	USD	Annual
Proceeds from sale of Private Placement Warrants to Sponsor	`ProceedsFromIssuanceOfWarrants`	$10.50M	USD	Annual
Proceeds from notes payable related party	`ProceedsFromRelatedPartyDebt`	$1.00M	USD	Annual
Proceeds from notes payable related party	`ProceedsFromRelatedPartyDebt`	$150.00K	USD	2 Qtrs
Repayment of notes and advances payable related party	`ProceedsFromRepaymentsOfNotesAndAdvancesPayableRelatedParty`	$-150.00K	USD	Annual
Proceeds from sale of Class F common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	2 Qtrs
Payment of underwriter's discounts and commissions	`PaymentOfUnderwritingDiscountsAndCommissions`	$8.50M	USD	Annual
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$670.03K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$427.18M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$175.00K	USD	2 Qtrs
Increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$49.45K	USD	Annual
Increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.12K	USD	2 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$50.57K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.12K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$50.57K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.12K	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwritingCompensation`	$14.88M	USD	Annual
Cash paid for income and state franchise taxes	`IncomeTaxesPaid`	$1.83K	USD	Annual
Deferred offering costs included in accrued expenses	`DeferredOfferingCostsIncludedInAccruedExpenses`	$270.67K	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	-	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-14.00K	USD	Point-in-time
Sale of 5,250,000 Private Placement Warrants to Sponsor on January 27, 2020 at $2.00 per Private Placement Warrant	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$10.50M	USD	Annual
Underwriters discounts	`AdjustmentsToAdditionalPaidInCapitalUnderwritersDiscounts`	$8.50M	USD	Annual
Offering costs charged to additional paid-in capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$810.74K	USD	Annual
Deferred underwriting compensation	`AdjustmentsToAdditionalPaidInCapitalDeferredUnderwritingCompensation`	$14.88M	USD	Annual
Class A common stock subject to possible redemption; 40,049,294 shares at a redemption price of $10.00	`TemporaryEquitySubjectToPossibleRedemptionValue`	$400.49M	USD	Annual
Net loss	`NetIncomeLoss`	$-39.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.81M	USD	Annual
Ending Balance	`StockholdersEquity`	-	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-14.00K	USD	Point-in-time

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