10-Q Filing

SONDER HOLDINGS INC. CIK: 1819395 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-057063`
Period End Date	20210930
Filing Date	20211115
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	gmii-10q_20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 21 Cash Flow Statement 37 Stockholders Equity 17

Balance Sheet 43 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`	$39.73K	USD	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$285.94K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$1.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$446.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.32M	USD	Point-in-time
Cash, cash equivalents and other investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$450.03M	USD	Point-in-time
Total assets	`Assets`	$446.25K	USD	Point-in-time
Total assets	`Assets`	$451.35M	USD	Point-in-time
Accrued expenses, formation and offering costs	`AccruedLiabilitiesCurrent`	$4.12M	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`	$150.00K	USD	Point-in-time
Notes and advances payable related party	`NotesAndLoansPayableCurrent`	$1.50M	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`	$30.42M	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$15.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.17M	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 September 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`	$-39.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.83M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-38.94M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$3.25K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-14.92K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-44.83M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$446.25K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$451.35M	USD	Point-in-time

Income Statement 21 line items

Line Item	Tag	Value	Unit	Period
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$1.50M	USD	1 Quarter
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$20.50K	USD	1 Quarter
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$5.68M	USD	3 Qtrs
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$1.25K	USD	1 Quarter
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$150.00K	USD	3 Qtrs
State franchise taxes, other than income tax	`TaxesExcludingIncomeAndExciseTaxes`	$50.00K	USD	1 Quarter
Gain/(loss) from change in fair value of warrant liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$1.59M	USD	3 Qtrs
Gain/(loss) from change in fair value of warrant liabilities	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-4.35M	USD	1 Quarter
Allocated expense for warrant issuance cost	`IssuanceCostsRelatedToWarrantLiability`	$918.14K	USD	3 Qtrs
Net loss from operations	`OperatingIncomeLoss`	$-5.15M	USD	3 Qtrs
Net loss from operations	`OperatingIncomeLoss`	$-21.75K	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-5.90M	USD	1 Quarter
Other income - interest income	`InterestIncomeOther`	$29.59K	USD	3 Qtrs
Other income - interest income	`InterestIncomeOther`	$11.34K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.88M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.12M	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.75K	USD	1 Quarter
Net loss attributable to common shares	`NetIncomeLoss`	$-5.12M	USD	3 Qtrs
Net loss attributable to common shares	`NetIncomeLoss`	$-21.75K	USD	1 Quarter
Net loss attributable to common shares	`NetIncomeLoss`	$-5.88M	USD	1 Quarter
Common Stock - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$-21.75K	USD	1 Quarter
Net income	`ProfitLoss`	$-5.12M	USD	3 Qtrs
Changes in state franchise tax accrual	`IncreaseDecreaseInStateFranchiseTaxAccrual`	$1.25K	USD	1 Quarter
Changes in state franchise tax accrual	`IncreaseDecreaseInStateFranchiseTaxAccrual`	$147.08K	USD	3 Qtrs
Changes in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$1.28M	USD	3 Qtrs
Changes in accrued expenses, formation and offering costs	`IncreaseDecreaseInAccruedExpensesFormationAndOfferingCosts`	$4.25M	USD	3 Qtrs
Changes in accrued expenses, formation and offering costs	`IncreaseDecreaseInAccruedExpensesFormationAndOfferingCosts`	$4.00K	USD	1 Quarter
Issuance costs related to warrant liabilities	`IssuanceCostsRelatedToWarrantLiabilities`	$918.14K	USD	3 Qtrs
Changes in fair value warrants derivative liabilities	`FairValueAdjustmentOfWarrants`	$-1.59M	USD	3 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-16.50K	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.68M	USD	3 Qtrs
Cash deposited in Trust Account	`PaymentToCashDepositedInTrustAccount`	$450.00M	USD	3 Qtrs
Interest and dividends reinvested in the Trust Account	`PaymentsToInterestAndDividendsReinvestedInTrustAccount`	$29.59K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-450.03M	USD	3 Qtrs
Proceeds from sale of Class F Common Stock	`ProceedsFromSaleOfCommonStock`	$25.00K	USD	1 Quarter
Proceeds from sale of Units in initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$450.00M	USD	3 Qtrs
Proceeds from sale of Units in initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$450.00M	USD	Point-in-time
Proceeds from sale of Private Placement Warrants to Sponsor	`ProceedsFromIssuanceOfWarrants`	$11.00M	USD	3 Qtrs
Proceeds from notes and advances payable related party	`ProceedsFromRelatedPartyDebt`	$300.00K	USD	1 Quarter
Proceeds from notes and advances payable related party	`ProceedsFromRelatedPartyDebt`	$1.50M	USD	3 Qtrs
Repayment of notes and advances payable related party	`RepaymentsOfRelatedPartyDebt`	$300.00K	USD	3 Qtrs
Payment of underwriters discounts and commissions	`PaymentOfUnderwritersDiscountsAndCommissions`	$9.00M	USD	3 Qtrs
Payment of accrued offering costs	`PaymentsOfStockIssuanceCosts`	$613.02K	USD	3 Qtrs
Payment of accrued offering costs	`PaymentsOfStockIssuanceCosts`	$78.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$247.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$452.59M	USD	3 Qtrs
Increase/(decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-120.58K	USD	3 Qtrs
Increase/(decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$230.50K	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$160.31K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$230.50K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.73K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$160.31K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$230.50K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.73K	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwritingCompensation`	$15.75M	USD	3 Qtrs
Cash paid for income and state franchise taxes	`CashPaidForIncomeAndStateFranchiseTaxes`	$2.92K	USD	3 Qtrs
Deferred offering costs	`DeferredOfferingCostsPaid`	$106.25K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-38.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	-	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$3.25K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-14.92K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-44.83M	USD	Point-in-time
Excess of fair value paid by founders for warrants	`AdjustmentsToAdditionalPaidInCapitalExcessOfFairValuePaidByFoundersForWarrants`	$-1.04M	USD	3 Qtrs
Subsequent measurement of Class A Common Stock subject to redemption against additional paid-in capital	`AdjustmentsToAdditionalPaidInCapitalSubsequentMeasurementOfClassACommonStock`	$1.07M	USD	3 Qtrs
Subsequent measurement of Class A Common Stock subject to redemption against accumulated deficit	`SubsequentMeasurementOfClassACommonStockSubjectToRedemptionAgainstAccumulatedDeficit`	$39.67M	USD	3 Qtrs
Sale of Class F common stock, par value $0.0001 per share, to Sponsor on July 23, 2020	`SaleOfCommonStockValueToSponsor`	$25.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-21.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.88M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$-38.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	-	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$3.25K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-14.92K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-44.83M	USD	Point-in-time

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