SC Health Corp Just Filed Its Annual Report: Net Income (Loss) pe...

Net Income (Loss) per Ordinary Share (restated)

Net income (loss) per share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted income (loss) per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement Warrants since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The warrants are exercisable to purchase 14,075,000 shares of Class A ordinary shares in the aggregate.

The Company’s statements of operations includes a presentation of income (loss) per share for ordinary shares subject to possible redemption in a manner similar to the two-class method of income (loss) per share. Net income per share, basic and diluted, for Class A redeemable ordinary shares is calculated by dividing the interest income earned on the Trust Account, by the weighted average number of Class A redeemable ordinary shares outstanding since original issuance. Net loss per share, basic and diluted, for Class B non-redeemable ordinary shares is calculated by dividing the net loss, adjusted for income attributable to Class A redeemable ordinary shares, by the weighted average number of Class B non-redeemable ordinary shares outstanding for the period. Class B non-redeemable ordinary shares includes the Founder Shares as these shares do not have any redemption features and do not participate in the income earned on the Trust Account.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):

  
Year Ended December 31,
 
  
2020
  
2019
 
Redeemable Class A Ordinary Shares
 
  
 
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
 
  
 
Interest Income
 
$
644,101
  
$
1,397,911
 
Net Earnings
 
$
644,101
  
$
1,397,911
 
Denominator: Weighted Average Redeemable Class A Ordinary Shares
 
  
 
Redeemable Ordinary Shares, Basic and Diluted
  
17,250,000
   
17,010,355
 
Earnings/Basic and Diluted Redeemable Class A Ordinary Shares
 
$
0.04
  
$
0.08
 
         
Non-Redeemable Class B Ordinary Shares
 
  
 
Numerator: Net (Loss) Income minus Redeemable Net Earnings
 
  
 
Net (Loss) Income
 
$
(8,222,420
)
 
$
(5,603,356
)
Redeemable Net Earnings
  
(644,101
)
  
(1,397,911
)
Non-Redeemable Net Loss
 
$
(8,866,521
)
 
$
(7,001,267
)
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
 
  
 
Non-Redeemable Class B Ordinary Shares, Basic and Diluted
  
5,562,500
   
4,911,815
 
Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares
 
$
(1.59
)
 
$
(1.43
)

As of December 31, 2020 and 2019, basic and diluted shares are the same as there are no securities that are dilutive to the shareholders.

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

To receive a free e-mail notification whenever SC Health Corp makes a similar move, sign up!

Auto Refresh

Feedback