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

Net
Income (Loss) Per Share of Common Stock

 

Net
income (loss) per share of common stock is computed by dividing net loss applicable to stockholders by the weighted average number of
shares of common stock outstanding during the periods. The Company has not considered the effect of the warrants sold in the Initial
Public Offering and Private Placement to purchase an aggregate of 6,385,000 shares of Class A common stock in the calculation of diluted
earnings per share, since 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
Company’s statement of operations includes a presentation of income per share of common stock subject to redemption in a manner
similar to the two-class method of income per share. Net income (loss) per share, basic and diluted for shares of Class A common stock
is calculated by dividing the interest income on investments held in the Trust Account, net of applicable taxes available to be withdrawn
from the Trust Account by the weighted average number of shares of Class A common stock outstanding for the period, excluding 540,000
shares of Class A common stock held by the Sponsor, which is not subject to redemption. Net income (loss) per share, basic and diluted
for shares of Class B common stock is calculated by dividing the net income (loss), less income attributable to the shares of redeemable
Class A common stock by the weighted average number of shares of Class B common stock and 540,000 shares of Class A common stock held
by the Sponsor and outstanding for the period.

 

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

 
























































   For the Three
Months Ended
June 30,
2021
 
Redeemable shares of Class A common stock    
Numerator: earnings allocable to redeemable shares of Class A common stock    
Interest income on investments held in Trust Account  $5,138 
Less franchise tax available to be withdrawn from the Trust Account  $(5,138)
Net earnings  $
-
 
Denominator: weighted average number of redeemable shares of Class A common stock   25,000,000 
Basic and diluted net income per redeemable share of Class A common stock  $
-
 
Non-redeemable shares of Class A private placement common stock and Class B common stock     
Numerator: net income minus redeemable net earnings     
Loss from operations  $(413,998)
Less franchise tax available to be withdrawn from the Trust Account  $5,138 
Change in fair value of warrant liability attributable to non-redeemable shares of Class A private placement common stock and Class B common stock  $1,091,835 
Change in fair value of FPS liability  $(245,264)
Non-redeemable net income  $437,711 
Denominator: weighted average number of non-redeemable shares of Class A private placement common stock and Class B common stock     
Non-redeemable shares of Class A private placement common stock and Class B common stock, basic and diluted   6,790,000 
Basic and diluted net income per non-redeemable share of Class A private placement common stock and Class B common stock  $0.06 

 
























































   For the Six
Months Ended
June 30,
2021
 
Redeemable shares of Class A common stock    
Numerator: earnings allocable to redeemable shares of Class A common stock    
Interest income on investments held in Trust Account  $5,138 
Less franchise tax available to be withdrawn from the Trust Account  $(5,138)
Net earnings  $
-
 
Denominator: weighted average number of redeemable shares of Class A common stock   25,000,000 
Basic and diluted net loss per redeemable share of Class A common stock  $
-
 
Non-redeemable shares of Class A private placement common stock and Class B common stock     
Numerator: net loss minus redeemable net earnings     
Loss from operations  $(517,396)
Less franchise tax available to be withdrawn from the Trust Account  $5,138 
Change in fair value of warrant liability attributable to non-redeemable shares of Class A private placement common stock and Class B common stock  $1,229,751 
Change in fair value of FPS liability  $(2,102,896)
Non-redeemable net loss  $(1,385,403)
Denominator: weighted average number of non-redeemable shares of Class A private placement common stock and Class B common stock     
Non-redeemable shares of Class A private placement common stock and Class B common stock, basic and diluted   6,790,000 
Basic and diluted net loss per non-redeemable share of Class A private placement common stock and Class B common stock  $(0.20)

 

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

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Other recent filings from the company include the following:

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

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