Attached files
| file | filename |
|---|---|
| EX-99.3 - EX-99.3 - Fisker Inc./DE | d39865dex993.htm |
| EX-99.2 - EX-99.2 - Fisker Inc./DE | d39865dex992.htm |
| EX-21.1 - EX-21.1 - Fisker Inc./DE | d39865dex211.htm |
| EX-16.1 - EX-16.1 - Fisker Inc./DE | d39865dex161.htm |
| EX-10.14 - EX-10.14 - Fisker Inc./DE | d39865dex1014.htm |
| EX-10.13 - EX-10.13 - Fisker Inc./DE | d39865dex1013.htm |
| EX-10.12 - EX-10.12 - Fisker Inc./DE | d39865dex1012.htm |
| EX-10.11 - EX-10.11 - Fisker Inc./DE | d39865dex1011.htm |
| EX-10.10 - EX-10.10 - Fisker Inc./DE | d39865dex1010.htm |
| EX-10.9 - EX-10.9 - Fisker Inc./DE | d39865dex109.htm |
| EX-10.8 - EX-10.8 - Fisker Inc./DE | d39865dex108.htm |
| EX-10.7 - EX-10.7 - Fisker Inc./DE | d39865dex107.htm |
| EX-10.5 - EX-10.5 - Fisker Inc./DE | d39865dex105.htm |
| EX-10.3 - EX-10.3 - Fisker Inc./DE | d39865dex103.htm |
| EX-10.2 - EX-10.2 - Fisker Inc./DE | d39865dex102.htm |
| EX-4.4 - EX-4.4 - Fisker Inc./DE | d39865dex44.htm |
| EX-3.2 - EX-3.2 - Fisker Inc./DE | d39865dex32.htm |
| EX-3.1 - EX-3.1 - Fisker Inc./DE | d39865dex31.htm |
| 8-K - FORM 8-K - Fisker Inc./DE | d39865d8k.htm |
Exhibit 99.1
SELECTED HISTORICAL CONSOLIDATED FINANCIAL AND OPERATING DATA OF FISKER
The selected historical condensed consolidated statements of operations data of Legacy Fisker for the nine months ended September 30, 2020 and 2019 and the condensed consolidated balance sheet data as of September 30, 2020 are derived from Legacy Fisker’s unaudited interim condensed consolidated financial statements included elsewhere in this Form 8-K. The selected historical consolidated statements of operations data of Legacy Fisker for the years ended December 31, 2019 and 2018 and the historical consolidated balance sheet data as of December 31, 2019 and 2018 are derived from Legacy Fisker’s audited consolidated financial statements included elsewhere in this Form 8-K. In Legacy Fisker management’s opinion, the unaudited interim condensed consolidated financial statements include all adjustments necessary to state fairly Legacy Fisker’s financial position as of September 30, 2020 and the results of operations for the nine months ended September 30, 2020 and 2019. Legacy Fisker’s historical results are not necessarily indicative of the results that may be expected in the future and Legacy Fisker’s results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2020 or any other period. You should read the following selected historical consolidated financial data together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Legacy Fisker” and Legacy Fisker’s consolidated financial statements and related notes included elsewhere in this Form 8-K.
The financial information contained in this section relates to Legacy Fisker, prior to and without giving pro forma effect to the impact of the Business Combination and, as a result, the results reflected in this section may not be indicative of our results going forward. See the section entitled “Unaudited Pro Forma Condensed Combined Financial Information” included elsewhere in this Form 8-K.
| Statement of Operations Data | For The Nine months Ended September 30, 2020 |
For The Nine months Ended September 30, 2019 |
For The Year Ended December 31, 2019 |
For The Year Ended December 31, 2018 |
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| (in actual dollars and shares) | ||||||||||||||||
| Revenue |
$ | — | $ | — | $ | — | $ | — | ||||||||
| General and administrative |
8,055,515 | 2,882,451 | 3,625,833 | 1,475,613 | ||||||||||||
| Research and development |
3,962,711 | 4,942,532 | 6,961,981 | 1,938,871 | ||||||||||||
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| Loss from operations |
(12,018,226 | ) | (7,824,983 | ) | (10,587,814 | ) | (3,414,484 | ) | ||||||||
| Other income (expense): |
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| Other income (expense) |
15,000 | — | 575 | (21,000 | ) | |||||||||||
| Interest income |
13,460 | 7,088 | 8,503 | 7,427 | ||||||||||||
| Interest expense |
(1,326,370 | ) | (19,728 | ) | (177,997 | ) | (1,590 | ) | ||||||||
| Change in fair value of embedded derivative |
(405,567 | ) | (8,904 | ) | (79,751 | ) | — | |||||||||
| Change in fair value of convertible equity security |
(29,003,494 | ) | — | — | — | |||||||||||
| Foreign currency gain (loss) |
121,695 | (15,340 | ) | (42,266 | ) | (1,298 | ) | |||||||||
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| Net Loss |
$ | (42,603,502 | ) | $ | (7,861,867 | ) | $ | (10,878,750 | ) | $ | (3,430,945 | ) | ||||
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| Deemed dividend attributable to preferred stock |
— | — | — | (1,222,368 | ) | |||||||||||
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| Net loss attributable to common shareholders |
$ | (42,603,502 | ) | $ | (7,861,867 | ) | $ | (10,878,750 | ) | $ | (4,653,313 | ) | ||||
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| Weighted average shares outstanding of Class A common stock |
94,754 | 51,837 | 57,139 | 20,040 | ||||||||||||
| Weighted average shares outstanding of Class B common stock |
38,727,340 | 38,727,340 | 38,727,340 | 38,727,340 | ||||||||||||
| Net loss per share attributable to Class A and Class B Common shareholders- Basic and Diluted |
$ | (1.10 | ) | $ | (0.20 | ) | $ | (0.28 | ) | $ | (0.12 | ) | ||||
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| Balance Sheet Data | September 30, 2020 | December 31, 2019 | December 31, 2018 | |||||||||
| Total assets |
$ | 47,948,757 | $ | 2,076,427 | $ | 5,651,302 | ||||||
| Total liabilities |
96,257,899 | 8,198,823 | 987,749 | |||||||||
| Total temporary equity |
11,020,683 | 11,020,683 | 11,020,683 | |||||||||
| Total stockholders’ deficit |
(59,329,825 | ) | (17,143,079 | ) | (6,357,130 | ) | ||||||
SELECTED HISTORICAL FINANCIAL INFORMATION OF SPARTAN
The selected historical condensed statements of operations data of Spartan for the nine months ended September 30, 2020 and 2019 and the condensed balance sheet data as of September 30, 2020 are derived from Spartan’s unaudited interim condensed financial statements included elsewhere in this Form 8-K. The selected historical statements of operations data of Spartan for the years ended December 31, 2019 and 2018 and the historical balance sheet data as of December 31, 2019 and 2018 are derived from Spartan’s audited financial statements included elsewhere in this Form 8-K. In Spartan management’s opinion, the unaudited interim condensed financial statements include all adjustments necessary to state fairly Spartan’s financial position as of September 30, 2020 and the results of operations for the nine months ended September 30, 2020 and 2019.
Spartan’s historical results are not necessarily indicative of the results that may be expected in the future and Spartan’s results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2020 or any other period. The information below is only a summary and should be read in conjunction with the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Spartan” and “Information About Spartan” and the financial statements, and the notes and schedules related thereto, which are included elsewhere in this Form 8-K. In connection with the Business Combination, Legacy Fisker was determined to be the accounting acquirer.
| Statement of Operations Data | For the Nine months Ended September 30, 2020 |
For the Nine months Ended September 30, 2019 |
For the Year ended December 31, 2019 |
For the Year ended December 31, 2018 |
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| (in actual dollars and shares) | ||||||||||||||||
| Revenue |
$ | — | $ | — | $ | — | $ | — | ||||||||
| Expenses |
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| Administrative fee—related party |
90,000 | 90,000 | 120,000 | 40,000 | ||||||||||||
| General and administrative expenses |
4,248,250 | 1,021,755 | 1,132,661 | 811,091 | ||||||||||||
| Other Income |
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| Investment income from Trust Account |
4,554,058 | 9,927,002 | 12,654,638 | 4,375,763 | ||||||||||||
| Interest income |
2,387 | 19,400 | 22,557 | 6,947 | ||||||||||||
| Income tax provision |
(924,823 | ) | (2,053,257 | ) | (2,615,474 | ) | (878,369 | ) | ||||||||
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| Net income (loss) |
$ | (706,628 | ) | $ | 6,781,390 | $ | 8,809,060 | $ | 2,653,250 | |||||||
| Weighted average shares outstanding of Class A common stock |
55,198,449 | 55,200,000 | 55,200,000 | 55,200,000 | ||||||||||||
| Basic and diluted net income per share, Class A |
$ | 0.06 | $ | 0.14 | $ | 0.18 | $ | 0.06 | ||||||||
| Weighted average shares outstanding of Class B common stock |
13,800,000 | 13,800,000 | 13,800,000 | 13,800,000 | ||||||||||||
| Basic and diluted net loss per share, Class B |
$ | (0.31 | ) | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.05 | ) | ||||
| Balance Sheet Data | September 30, 2020 | December 31, 2019 | December 31, 2018 | |||||||||
| Total assets |
$ | 569,245,438 | $ | 565,975,181 | $ | 557,475,687 | ||||||
| Total liabilities |
23,689,808 | 19,636,001 | 19,945,567 | |||||||||
| Value of Class A Common Stock that may be redeemed in connection with an initial business combination |
540,555,620 | 541,339,170 | 532,530,110 | |||||||||
| Total stockholders’ equity |
5,000,010 | 5,000,010 | 5,000,010 | |||||||||