10-Q Filing

SONDER HOLDINGS INC. CIK: 1819395 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-042181`
Period End Date	20210630
Filing Date	20210806
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	gmii-10q_20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 15 Cash Flow Statement 25 Stockholders Equity 11

Balance Sheet 41 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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.08K	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
Deferred offering costs	`DeferredOfferingCosts`	$285.94K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$1.54M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$446.25K	USD	Point-in-time
Investments and cash held in Trust Account	`AssetsHeldInTrustNoncurrent`	$450.02M	USD	Point-in-time
Total assets	`Assets`	$451.61M	USD	Point-in-time
Total assets	`Assets`	$446.25K	USD	Point-in-time
Accrued expenses, formation and offering costs	`AccruedLiabilitiesCurrent`	$3.41M	USD	Point-in-time
Accrued expenses, formation and offering costs	`AccruedLiabilitiesCurrent`	$158.25K	USD	Point-in-time
State franchise tax accrual	`AccrualForStateFranchiseTaxesCurrent`	$2.92K	USD	Point-in-time
State franchise tax accrual	`AccrualForStateFranchiseTaxesCurrent`	$100.00K	USD	Point-in-time
Notes and advances payable related party	`NotesAndLoansPayableCurrent`	$1.00M	USD	Point-in-time
Notes and advances payable related party	`NotesAndLoansPayableCurrent`	$300.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$461.17K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.81M	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$15.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.56M	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 June 30, 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`	$-38.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.92K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-38.94M	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`	$451.61M	USD	Point-in-time

Income Statement 15 line items

Line Item	Tag	Value	Unit	Period
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$4.18M	USD	2 Qtrs
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$2.32M	USD	1 Quarter
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$100.00K	USD	2 Qtrs
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$50.00K	USD	1 Quarter
Gain from change in fair value of warrant liability	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$145.00K	USD	1 Quarter
Gain from change in fair value of warrant liability	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$5.95M	USD	2 Qtrs
Allocated expense for warrant issuance cost	`IssuanceCostsRelatedToWarrantLiability`	$918.14K	USD	2 Qtrs
Net income/(loss) from operations	`OperatingIncomeLoss`	$743.08K	USD	2 Qtrs
Net income/(loss) from operations	`OperatingIncomeLoss`	$-2.23M	USD	1 Quarter
Other income - interest income	`InterestIncomeOther`	$18.25K	USD	2 Qtrs
Other income - interest income	`InterestIncomeOther`	$11.22K	USD	1 Quarter
Net income/(loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$761.33K	USD	2 Qtrs
Net income/(loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.21M	USD	1 Quarter
Net income/(loss) attributable to common shares	`NetIncomeLoss`	$761.33K	USD	2 Qtrs
Net income/(loss) attributable to common shares	`NetIncomeLoss`	$-2.21M	USD	1 Quarter

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$761.33K	USD	2 Qtrs
Changes in state franchise tax accrual	`IncreaseDecreaseInStateFranchiseTaxAccrual`	$97.08K	USD	2 Qtrs
Changes in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$1.54M	USD	2 Qtrs
Changes in accrued expenses, formation and offering costs	`IncreaseDecreaseInAccruedExpensesFormationAndOfferingCosts`	$3.54M	USD	2 Qtrs
Issuance costs related to warrant liability	`IssuanceCostsRelatedToWarrantLiability`	$918.14K	USD	2 Qtrs
Changes in fair value warrants derivative liability	`FairValueAdjustmentOfWarrants`	$-5.95M	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	2 Qtrs
Cash deposited in Trust Account	`PaymentToCashDepositedInTrustAccount`	$450.00M	USD	2 Qtrs
Interest and dividends reinvested in the Trust Account	`PaymentsToInterestAndDividendsReinvestedInTrustAccount`	$18.25K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-450.02M	USD	2 Qtrs
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	2 Qtrs
Proceeds from sale of Private Placement Warrants to Sponsor	`ProceedsFromIssuanceOfWarrants`	$11.00M	USD	2 Qtrs
Proceeds from notes and advances payable related party	`ProceedsFromRelatedPartyDebt`	$1.00M	USD	2 Qtrs
Repayment of notes and advances payable related party	`RepaymentsOfRelatedPartyDebt`	$300.00K	USD	2 Qtrs
Payment of underwriters discounts and commissions	`PaymentOfUnderwritersDiscountsAndCommissions`	$9.00M	USD	2 Qtrs
Payment of accrued offering costs	`PaymentsOfStockIssuanceCosts`	$613.02K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$452.09M	USD	2 Qtrs
Decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-107.23K	USD	2 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$160.31K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$53.08K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$160.31K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$53.08K	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwritingCompensation`	$15.75M	USD	2 Qtrs
Cash paid for income and state franchise taxes	`CashPaidForIncomeAndStateFranchiseTaxes`	$2.92K	USD	2 Qtrs

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-38.94M	USD	Point-in-time
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	2 Qtrs
Subsequent measurement under ASC 480-10-S99 against additional paid-in capital	`AdjustmentsToAdditionalPaidInCapitalSubsequentMeasurementUnderAccountingStandardsCodification`	$1.07M	USD	2 Qtrs
Subsequent measurement under ASC 480-10-S99 against accumulated deficit	`SubsequentMeasurementUnderAccountingStandardsCodification`	$39.67M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$761.33K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.21M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$-38.94M	USD	Point-in-time
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.