Net Income (Loss) per Common Share
loss per share of common stock is computed by dividing net loss by the weighted average number of common shares outstanding during the
period. The Company applies the two-class method in calculating earnings per share. Accretion associated with the redeemable
shares of common stock is excluded from EPS as the redemp tion value approximates fair value.
June 30, 2021, the Company had outstanding warrants to purchase of up to 10,511,597 shares of common stock. The weighted average of these
shares was excluded from the calculation of diluted net loss per share of common stock since the exercise of the Warrants is contingent
upon the occurrence of future events. As of June 30, 2021 and 2020, the Company did not have any dilutive securities or other contracts
that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the Company. As a result,
diluted net loss per share of common stock is the same as basic net loss per share of common stock for the period.
|Three Months Ended||Six Months Ended|
|June 30,||June 30,|
|Common stock subject to possible redemption|
|Numerator: Earnings allocable to common stock subject to possible redemption|
|Interest earned on marketable securities held in Trust Account||$||1,833||$||3,645|
|Net income attributable||$||1,833||$||3,645|
|Denominator: Weighted Average common stock subject to possible redemption|
|Basic and diluted weighted average shares outstanding, common stock subject to possible redemption||7,278,151||7,278,151|
|Basic and diluted net income per share, common stock subject to possible redemption||$||0.00||$||0.00|
|Non-Redeemable common stock|
|Numerator: Net Loss minus Net Earnings|
|Less: Net income allocable to common stock subject to possible redemption||(1,833||)||(3,645||)|
|Non-Redeemable Net Loss||$||(1,332,977||)||$||(156,595||)|
|Denominator: Weighted Average Non-redeemable Common Stock|
|Basic and diluted weighted average shares outstanding, common stock||1,819,538||1,819,538|
|Basic and diluted net loss per share, common stock||$||(0.73||)||$||(0.09||)|
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 Petra Acquisition Inc. makes a similar move, sign up!
Other recent filings from the company include the following:
Amendments to Articles of Incorporation or - Oct. 13, 2021
Lawrence M. Feis just provided an update on share ownership of Petra Acquisition Inc. - Oct. 12, 2021
Paul J. Glazer just provided an update on share ownership of Petra Acquisition Inc. - Oct. 12, 2021
Prospectuses and communications, business combinations - Oct. 4, 2021
Lawrence M. Feis just provided an update on share ownership of Petra Acquisition Inc. - Sept. 28, 2021