Vy Global Growth Just Filed Its Annual Report: Net Income (Loss) Pe...

Net Income (Loss) Per Ordinary Share

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per ordinary share is calculated by dividing the net income (loss) by the weighted average of ordinary shares outstanding for the respective period.

The calculation of diluted net income (loss) per ordinary share does not consider the effect of the warrants issued in connection with the Initial Public Offering and the Private Placement to purchase an aggregate of 21,500,000 ordinary shares in the calculation of diluted income (loss) per share because their exercise is contingent upon future events. Accretion associated with the redeemable Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value.

The following table reflects presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of ordinary shares:

    

For the Year Ended

For the Period from August 18, 2020

December 31, 2021

(inception) through December 31, 2020

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net income (loss) per ordinary share:

Numerator:

Allocation of net income (loss)

$

14,746,203

$

3,686,551

$

(13,430,330)

$

(4,968,416)

Denominator:

Basic and diluted weighted average ordinary shares outstanding

 

57,500,000

 

14,375,000

 

36,783,088

 

13,607,537

Basic and diluted net income (loss) per ordinary share

$

0.26

$

0.26

$

(0.37)

$

(0.37)

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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