10-Q Filing

SONDER HOLDINGS INC. CIK: 1819395 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-031810`
Period End Date	20210331
Filing Date	20210604
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	gmii-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 8 Cash Flow Statement 25 Stockholders Equity 8

Balance Sheet 40 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$280.69K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$160.31K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$285.94K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$1.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$446.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.09M	USD	Point-in-time
Investments and cash held in Trust Account	`AssetsHeldInTrustNoncurrent`	$450.01M	USD	Point-in-time
Total assets	`Assets`	$452.09M	USD	Point-in-time
Total assets	`Assets`	$446.25K	USD	Point-in-time
Accrued expenses, formation and offering costs	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses, formation and offering costs	`AccruedLiabilitiesCurrent`	$158.25K	USD	Point-in-time
State franchise tax accrual	`AccrualForStateFranchiseTaxesCurrent`	$50.00K	USD	Point-in-time
State franchise tax accrual	`AccrualForStateFranchiseTaxesCurrent`	$2.92K	USD	Point-in-time
Notes and advances payable related party	`NotesAndLoansPayableCurrent`	$300.00K	USD	Point-in-time
Notes and advances payable related party	`NotesAndLoansPayableCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$461.17K	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$15.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$461.17K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A subject to possible redemption, 45,000,000 and -0- shares at March 31, 2021 and December 31, 2020, respectively (at redemption value of $10 per share)	`TemporaryEquityCarryingAmountAttributableToParent`	$450.00M	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
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.92K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-36.73M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-14.92K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$446.25K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$452.09M	USD	Point-in-time

Income Statement 8 line items

Line Item	Tag	Value	Unit	Period
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$1.86M	USD	1 Quarter
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$50.00K	USD	1 Quarter
Gain from change in fair value of warrant liability	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$5.80M	USD	1 Quarter
Allocated expense for warrant issuance cost	`IssuanceCostsRelatedToWarrantLiability`	$918.14K	USD	1 Quarter
Net income from operations	`OperatingIncomeLoss`	$2.97M	USD	1 Quarter
Other income - interest and dividend income	`InvestmentIncomeNonoperating`	$7.03K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.98M	USD	1 Quarter
Net income attributable to common shares	`NetIncomeLoss`	$2.98M	USD	1 Quarter

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.98M	USD	1 Quarter
Changes in state franchise tax accrual	`IncreaseDecreaseInStateFranchiseTaxAccrual`	$47.08K	USD	1 Quarter
Changes in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$1.81M	USD	1 Quarter
Changes in accrued expenses, formation and offering costs	`IncreaseDecreaseInAccruedExpensesFormationAndOfferingCosts`	$1.71M	USD	1 Quarter
Issuance costs related to warrant liability	`IssuanceCostsRelatedToWarrantLiability`	$918.14K	USD	1 Quarter
Changes in fair value warrants derivative liability	`FairValueAdjustmentOfWarrants`	$-5.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.96M	USD	1 Quarter
Cash deposited in Trust Account	`PaymentToCashDepositedInTrustAccount`	$450.00M	USD	1 Quarter
Interest and dividends reinvested in the Trust Account	`PaymentsToInterestAndDividendsReinvestedInTrustAccount`	$7.03K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-450.01M	USD	1 Quarter
Proceeds from sale of Units in initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$450.00M	USD	Point-in-time
Proceeds from sale of Units in initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$450.00M	USD	1 Quarter
Proceeds from sale of Private Placement Warrants to Sponsor	`ProceedsFromIssuanceOfWarrants`	$11.00M	USD	1 Quarter
Proceeds from notes and advances payable related party	`ProceedsFromRelatedPartyDebt`	$1.00M	USD	1 Quarter
Repayment of notes and advances payable related party	`RepaymentsOfRelatedPartyDebt`	$300.00K	USD	1 Quarter
Payment of underwriters discounts and commissions	`PaymentOfUnderwritersDiscountsAndCommissions`	$9.00M	USD	1 Quarter
Payment of accrued offering costs	`PaymentsOfStockIssuanceCosts`	$613.02K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$452.09M	USD	1 Quarter
Increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$120.38K	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$160.31K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$280.69K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$160.31K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$280.69K	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwritingCompensation`	$15.75M	USD	1 Quarter
Cash paid for income and state franchise taxes	`CashPaidForIncomeAndStateFranchiseTaxes`	$2.92K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-36.73M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-14.92K	USD	Point-in-time
Excess of fair value paid by founders for warrants	`AdjustmentsToAdditionalPaidInCapitalExcessOfFairValuePaidByFoundersForWarrants`	$-1.04M	USD	1 Quarter
Subsequent measurement under ASC 480-10-S99 against additional paid-in capital	`AdjustmentsToAdditionalPaidInCapitalSubsequentMeasurementUnderAccountingStandardsCodification`	$1.07M	USD	1 Quarter
Subsequent measurement under ASC 480-10-S99 against accumulated deficit	`SubsequentMeasurementUnderAccountingStandardsCodification`	$39.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.98M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$-36.73M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-14.92K	USD	Point-in-time

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