| | |
Assuming No
Redemptions(1) |
| |
Assuming Maximum
Redemptions(1)(2) |
| ||||||
EIC’s public stockholders (other than the PIPE Investors)
|
| | | | 33.3% | | | | | | —% | | |
PIPE Investors (other than the Sponsor and its affiliates)
|
| | | | 12.7% | | | | | | 19.1% | | |
Sponsor (and its affiliates)
|
| | | | 10.8% | | | | | | 16.1% | | |
Current holders of Blade Stock and Blade Options(3)
|
| | | | 43.2% | | | | | | 64.8% | | |
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 4 | | | |
| | | | 7 | | | |
| | | | 21 | | | |
| | | | 35 | | | |
| | | | 36 | | | |
| | | | 38 | | | |
| | | | 40 | | | |
| | | | 42 | | | |
| | | | 44 | | | |
| | | | 81 | | | |
| | | | 86 | | | |
| | | | 88 | | | |
| | | | 118 | | | |
| | | | 128 | | | |
| | | | 131 | | | |
| | | | 132 | | | |
| | | | 134 | | | |
| | | | 137 | | | |
| | | | 144 | | | |
| | | | 145 | | | |
| | | | 147 | | | |
| | | | 148 | | | |
| | | | 149 | | | |
| | | | 151 | | | |
| | | | 163 | | | |
| | | | 167 | | | |
| | | | 175 | | | |
| | | | 183 | | | |
| | | | 188 | | | |
| | | | 194 | | | |
| | | | 205 | | | |
| | | | 218 | | | |
| | | | 230 | | | |
| | | | 234 | | | |
| | | | 235 | | | |
| | | | 241 | | | |
| | | | 244 | | | |
| | | | 246 | | | |
| | | | 250 | | | |
| | | | 250 | | |
| | |
Page
|
| |||
| | | | 250 | | | |
| | | | 250 | | | |
Experts | | | | | 250 | | |
| | | | 251 | | | |
| | | | 251 | | | |
| | | | F-1 | | | |
Annexes | | | |||||
| | | | A-1 | | | |
| | | | B-1 | | | |
| | | | C-1 | | | |
| | | | D-1 | | | |
| | | | E-1 | | | |
| | | | F-1 | | | |
| | | | G-1 | | | |
| | | | H-1 | | | |
| | | | I-1 | | |
| | |
Assuming No
Redemptions(1) |
| |
Assuming Maximum
Redemptions(1)(2) |
| ||||||
EIC’s public stockholders (other than the PIPE Investors)
|
| | | | 33.3% | | | | | | —% | | |
PIPE Investors (other than the Sponsor and its affiliates)
|
| | | | 12.7% | | | | | | 19.1% | | |
Sponsor (and its affiliates)
|
| | | | 10.8% | | | | | | 16.1% | | |
Current holders of Blade Stock and Blade Options(3)
|
| | | | 43.2% | | | | | | 64.8% | | |
Statement of Operations Data:
|
| |
Year Ended
December 31, 2020 |
| |
Period from
May 24, 2019 (inception) through December 31, 2019 |
| ||||||
| | |
(in thousands, except share and per share data)
|
| |||||||||
Formation and operating costs
|
| | | $ | 678 | | | | | $ | 268 | | |
Loss from operations
|
| | | | (678) | | | | | | (268) | | |
Other income: | | | | | | | | | | | | | |
Interest on marketable securities held in trust account
|
| | | | 1,017 | | | | | | 1,262 | | |
Income before income taxes
|
| | | | 338 | | | | | | 993 | | |
Benefit (provision) for income taxes
|
| | | | (210) | | | | | | (209) | | |
Net income
|
| | | $ | 128 | | | | | $ | 785 | | |
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption
|
| | | | 26,160,492 | | | | | | 26,187,830 | | |
Basic and diluted net income per share, common stock subject to possible redemption
|
| | | $ | 0.02 | | | | | $ | 0.03 | | |
Basic and diluted weighted average shares outstanding, common stock
|
| | | | 8,214,508 | | | | | | 7,170,375 | | |
Basic and diluted net loss per common share, common stock
|
| | | $ | (0.05) | | | | | $ | (0.01) | | |
| | |
As of December 31,
|
| |||||||||
Balance Sheet Data:
|
| |
2020
|
| |
2019
|
| ||||||
| | |
(in thousands, except share data)
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 846 | | | | | $ | 1,306 | | |
Marketable securities held in trust account
|
| | | $ | 276,943 | | | | | $ | 276,262 | | |
Total assets
|
| | | $ | 277,839 | | | | | $ | 277,692 | | |
Total liabilities
|
| | | $ | 10,016 | | | | | $ | 9,996 | | |
Class A common stock subject to possible redemption, 26,136,620 and 26,180,927 shares at redemption value as of December 31, 2020 and December 31, 2019, respectively
|
| | | $ | 262,824 | | | | | $ | 262,696 | | |
Total stockholders’ equity
|
| | | $ | 5,000 | | | | | $ | 5,000 | | |
Total liabilities and stockholders’ equity
|
| | | $ | 277,839 | | | | | $ | 277,692 | | |
| | |
For the Three Months Ended December 31,
|
| |
Year Ended September 30,
|
| ||||||||||||||||||
Statement of Operations Data:
|
| |
2020
|
| |
2019
|
| |
2020
|
| |
2019
|
| ||||||||||||
| | |
(unaudited)
|
| |
(unaudited)
|
| | | | | | | | | | | | | ||||||
| | |
(in thousands, except share and per share data)
|
| |||||||||||||||||||||
Revenue
|
| | | $ | 7,986 | | | | | $ | 5,223 | | | | | $ | 23,434 | | | | | $ | 31,196 | | |
Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of revenue
|
| | | | 6,322 | | | | | | 5,757 | | | | | | 21,107 | | | | | | 26,497 | | |
Software development
|
| | | | 186 | | | | | | 230 | | | | | | 861 | | | | | | 751 | | |
General and administrative
|
| | | | 3,411 | | | | | | 3,008 | | | | | | 9,292 | | | | | | 10,476 | | |
Selling and marketing
|
| | | | 435 | | | | | | 1,032 | | | | | | 2,533 | | | | | | 5,013 | | |
Total operating expenses
|
| | | | 10,354 | | | | | | 10,027 | | | | | | 33,793 | | | | | | 42,737 | | |
Loss from operations
|
| | | | (2,368) | | | | | | (4,804) | | | | | | (10,359) | | | | | | (11,541) | | |
Other non-operating income (expense) | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 7 | | | | | | 91 | | | | | | 200 | | | | | | 718 | | |
Interest expense
|
| | | | — | | | | | | — | | | | | | (1) | | | | | | (15) | | |
Total other income
|
| | | | 7 | | | | | | 91 | | | | | | 199 | | | | | | 703 | | |
Net loss
|
| | | $ | (2,361) | | | | | $ | (4,713) | | | | | $ | (10,160) | | | | | $ | (10,838) | | |
Weighted average shares outstanding, basic and diluted(1)
|
| | | | 12,616,039 | | | | | | 12,508,608 | | | | | | 12,512,567 | | | | | | 12,409,010 | | |
Basic and diluted net loss per common share(2)
|
| | | $ | (0.19) | | | | | $ | (0.38) | | | | | $ | (0.81) | | | | | $ | (0.87) | | |
| | |
As of
December 31 2020 |
| |
As of
September 30 |
| ||||||||||||
Balance Sheet Data:
|
| |
2020
|
| |
2019
|
| ||||||||||||
| | |
(unaudited)
|
| | | | | | | | | | | | | |||
| | |
(in thousands)
|
| |||||||||||||||
Total assets
|
| | | $ | 18,332 | | | | | $ | 17,715 | | | | | $ | 26,619 | | |
Total liabilities
|
| | | $ | 8,336 | | | | | $ | 6,635 | | | | | $ | 5,884 | | |
Total stockholders’ equity
|
| | | $ | 9,996 | | | | | $ | 11,080 | | | | | $ | 20,735 | | |
| | |
Assuming No
Redemptions |
| |
Assuming
Maximum Redemptions |
| ||||||
| | |
(in thousands, except share and per share data)
|
| |||||||||
Summary Unaudited Pro Forma Condensed Combined
Statements of Operations Data for the Three Months Ended December 31, 2020 |
| | | | | | | | | | | | |
Net loss
|
| | | $ | (2,703) | | | | | $ | (2,703) | | |
Weighted average shares of Class A common stock outstanding, basic and diluted
|
| | | | 82,500,000 | | | | | | 55,000,000 | | |
Net loss per share of Class A common stock, basic and diluted
|
| | | $ | (0.03) | | | | | $ | (0.05) | | |
Summary Unaudited Pro Forma Condensed Combined
Statements of Operations Data for the Twelve Months Ended September 30, 2020 |
| | | | | | | | | | | | |
Net loss
|
| | | $ | (11,607) | | | | | $ | (11,607) | | |
Weighted average shares of Class A common stock outstanding, basic and diluted
|
| | | | 82,500,000 | | | | | | 55,000,000 | | |
Net loss per share of Class A common stock, basic and diluted
|
| | | $ | (0.14) | | | | | $ | (0.21) | | |
Summary Unaudited Pro Forma Condensed Combined Balance
Sheet Data as of December 31, 2020 |
| | | | | | | | | | | | |
Total current assets
|
| | | $ | 384,345 | | | | | $ | 107,402 | | |
Total assets
|
| | | $ | 388,006 | | | | | $ | 111,063 | | |
Total current liabilities
|
| | | $ | 7,325 | | | | | $ | 7,325 | | |
Total liabilities
|
| | | $ | 7,536 | | | | | $ | 7,536 | | |
Total stockholders’ equity
|
| | | $ | 380,470 | | | | | $ | 103,527 | | |
| | |
Historical Blade(1)
|
| |
Historical EIC(1)
|
| |
Pro Forma Combined
|
| |||||||||||||||||||||
| | |
As of and for
the Three Months Ended December 31, 2020 |
| |
As of and for
the Nine Months Ended September 30, 2020 |
| |
As of and for
the Year Ended December 31, 2020 |
| |
As of and for the
Three Months Ended December 31, 2020 |
| ||||||||||||||||||
|
Assuming No
Redemptions |
| |
Assuming
Maximum Redemptions |
| ||||||||||||||||||||||||||
Book value per share(2)
|
| | | $ | 0.28 | | | | | $ | 0.61 | | | | | $ | 0.61 | | | | | $ | 4.61 | | | | | $ | 1.88 | | |
Weighted average shares of EIC Class A common stock outstanding, basic and diluted
|
| | | | | | | | | | 8,208,043 | | | | | | 8,214,508 | | | | | | 82,500,000 | | | | | | 55,000,000 | | |
Net loss per share of EIC Class A common stock, basic and
diluted |
| | | | | | | | | $ | (0.03) | | | | | $ | (0.05) | | | | | $ | (0.03) | | | | | $ | (0.05) | | |
Weighted average shares of Blade Common Stock outstanding, basic and diluted
|
| | | | 12,616,039 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net loss per share of Blade Common Stock, basic and diluted
|
| | | $ | (0.19) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Historical Blade(1)
|
| |
Historical EIC(1)
|
| |
Pro Forma Combined
|
| |||||||||||||||||||||
| | |
As of and for the
Year Ended September 30, 2020 |
| |
As of and for
the Nine Months Ended September 30, 2020 |
| |
As of and for
the period from May 24, 2019 (inception) through December 31, 2019 |
| |
As of and for the
Year Ended September 30, 2020 |
| ||||||||||||||||||
|
Assuming No
Redemptions |
| |
Assuming
Maximum Redemptions |
| ||||||||||||||||||||||||||
Weighted average shares of EIC Class A common stock outstanding, basic and diluted
|
| | | | | | | | | | 8,208,043 | | | | | | 7,170,375 | | | | | | 82,500,000 | | | | | | 55,000,000 | | |
Net loss per share of EIC Class A common stock, basic and
diluted |
| | | | | | | | | $ | (0.03) | | | | | $ | (0.01) | | | | | $ | (0.14) | | | | | $ | (0.21) | | |
Weighted average shares of Blade Common Stock outstanding, basic and diluted
|
| | | | 12,512,567 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net loss per share of Blade Common Stock, basic and diluted
|
| | | $ | (0.81) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Ownership
Percentage(1) |
| |||
EIC’s public stockholders (other than the PIPE Investors)
|
| | | | 33.3% | | |
PIPE Investors (other than the Sponsor and its affiliates)
|
| | | | 12.7% | | |
Sponsor (and its affiliates)
|
| | | | 10.8% | | |
Current holders of Blade Stock and Blade Options(2)
|
| | | | 43.2% | | |