CF Acquisition Corp. VIII Just Filed Its Quarterly Report: Net Income (Loss) Pe...

Net
Income (Loss) Per Share of Common Stock

 

The
Company complies with the accounting and disclosure requirements of ASC 260, Earnings Per Share. Net income (loss) per share of
common stock is computed by dividing net income (loss) applicable to stockholders by t he weighted average number of shares of common
stock outstanding for the applicable periods. The Company applies the two-class method in calculating earnings per share and allocates
net income (loss) pro-rata to shares of Class A common stock subject to possible redemption, nonredeemable shares of Class A common stock
and shares of Class B common stock. This presentation contemplates a Business Combination as the most likely outcome, in which case all
classes of common stock share pro-rata in the net income (loss) of the Company. Accretion associated with the redeemable shares of Class
A common stock is excluded from earnings per share as the redemption value approximates fair value.

 

The
Company has not considered the effect of the warrants to purchase an aggregate of 6,385,000 shares of Class A common stock sold in the
Initial Public Offering and Private Placement in the calculation of diluted earnings per share, because their exercise is contingent
upon future events and their inclusion would be anti-dilutive under the treasury stock method. As a result, diluted earnings per share
of common stock is the same as basic earnings per share of common stock for the periods presented.

 

The
following table reflects the calculation of basic and diluted net income (loss) per share of common stock:

 






























































   For the Three Months Ended
March 31, 2022
   For the Three Months Ended
March 31, 2021
 
   Class A – Public shares   Class A – Private placement shares   Class B – Common stock   Class A – Public shares   Class A – Private placement shares   Class B – Common stock 
Basic and diluted net income (loss) per share of common stock                        
Numerator:                        
Allocation of net income (loss)  $2,663,197   $59,584   $689,632   $(796,432)  $(17,203)  $(1,009,479)
Denominator:                              
Basic and diluted weighted average number of shares of common stock outstanding   24,136,022    540,000    6,250,000    4,444,444    96,000    5,633,333 
Basic and diluted net income (loss) per share of common stock  $0.11   $0.11   $0.11   $(0.18)  $(0.18)  $(0.18)

 

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

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David A. Witkin just provided an update on share ownership of CF Acquisition Corp. VIII - June 2, 2022

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