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LEAP SEC filings, in plain English

Everything Ribbit LEAP, Ltd. has filed with the SEC that we hold — 40 filings, newest first, 4 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.

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New filings appear here within minutes of hitting EDGAR; summaries follow once the pipeline has read them.

  • SC 13G/A14 February 20230000902664-23-001649opens on sec.gov in a new tab
  • 15-12G25 August 20220001104659-22-094418opens on sec.gov in a new tab
  • 25-NSE19 August 20220000876661-22-000693opens on sec.gov in a new tab
  • 25-NSE15 August 20220000876661-22-000624opens on sec.gov in a new tab
  • 10-Q12 August 20220001104659-22-090017opens on sec.gov in a new tab
    What changed vs 2022-05-16trust $402.8M → $403.4M +0%
    trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
    Trust account
    $402.8M$403.4M

    SpacBrain reads this as $611,115 was added to the trust between the two filings.

    The clause …“assets ​ 353,823 ​ 896,506 ​ ​ ​ ​ ​ ​ ​ Cash and marketable securities held in Trust Account ​ 403,411,115 ​ 402,706,438 TOTAL ASSETS ​ $ 403,764,938 ​ $ 403,602,944 ​ ​ ​ ​ ​ ​ ​ LIABILITIES, CLASS A REDEEMABLE SHARES, AND”…

    Combination deadline
    not previously extracted2022-09-15

    The clause …“Company has until September 15, 2022 to consummate a Business Combination. A Business Combination will not be consummated by September 15, 2022, so there will be a mandatory liquidation and subsequent dissolution of the Company.”…

    Going-concern doubt
    stated · unchanged

    The clause …“has determined that the liquidity condition and mandatory liquidation raises substantial doubt about the Company’s ability to continue as a going concern.. These unaudited condensed interim financial statements do not include any”…

    Mandate language
    we are focusing on the biotechnology sector to capitalize on… · unchanged
    Redeemable shares
    40.3M · unchanged

    The clause “0,000,000 shares authorized; 1,005,000 shares issued and outstanding (excluding 40,250,000 shares subject to possible redemption) at June 30, 2022 and December 31, 2021 ​ 101 ​ 101 Class B ordinary shares, $ 0.0001 par value; 10,000,000”…

    Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.

  • 8-K3 August 20220001104659-22-085390opens on sec.gov in a new tab
  • 10-Q16 May 20220001104659-22-060535opens on sec.gov in a new tab
    What changed vs 2021-11-12trust $402.7M → $402.8M +0%
    trust account, going-concern doubt, mandate language +11 moved · 3 with no prior record of ours
    Trust account
    $402.7M$402.8M

    SpacBrain reads this as $128,857 was added to the trust between the two filings.

    The clause …“$0.3 million. As of March 31, 2022, we had cash and marketable securities of $402.8 million held in the trust account. We intend to use substantially all of the funds held in the trust account, including any amounts representing”…

    Going-concern doubt
    stated · unchanged

    The clause …“to funds in the trust account. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to”…

    Mandate language
    we are focusing on the biotechnology sector to capitalize on… · unchanged
    Redeemable shares
    40.3M · unchanged

    The clause “0,000,000 shares authorized; 1,005,000 shares issued and outstanding (excluding 40,250,000 shares subject to possible redemption) at March 31, 2022 and December 31, 2021 ​ 101 ​ 101 Class B ordinary shares, $ 0.0001 par value; 10,000,000”…

    Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.

  • 31 April 20220001104659-22-041890opens on sec.gov in a new tab
  • 10-K30 March 20220001104659-22-040258opens on sec.gov in a new tab
    What changed vs 2021-03-31trust $402.6M → $402.7M +0%going concern RESOLVEDshares 38.5M → 40.3M +4%
    trust account, going-concern doubt, redeemable shares +13 moved · 1 with no prior record of ours
    Trust account
    $402.6M$402.7M

    SpacBrain reads this as $106,438 was added to the trust between the two filings.

    The clause …“assets ​ ​ 896,506 ​ 1,704,127 ​ ​ ​ ​ ​ ​ ​ Cash and marketable securities held in Trust Account ​ ​ 402,706,438 ​ 402,585,717 Other long-term assets ​ ​ — ​ ​ 168,403 TOTAL ASSETS ​ $ 403,602,944 ​ $ 404,458,247 ​ ​ ​ ​ ​ ​ ​”…

    Going-concern doubt
    statednot stated

    SpacBrain reads this as the substantial-doubt sentence is in the previous filing and not in this one.

    Redeemable shares
    38.5M40.3M

    SpacBrain reads this as 1,726,785 more shares carry a redemption right.

    The clause …“uncertain future events. Accordingly, as of December 31, 2021, and 2020, the 40,250,000 Class A ordinary shares subject to possible redemption are presented as temporary equity (for mezzanine), outside of the shareholders' equity”…

    Mandate language
    we are focusing our search for an initial business combinati… · unchanged

    Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.

  • 10-K/A29 March 20220001104659-22-039545opens on sec.gov in a new tab
  • 10-Q/A29 March 20220001104659-22-039531opens on sec.gov in a new tab
  • 8-K16 February 20220001104659-22-024334opens on sec.gov in a new tab
  • SC 13G/A14 February 20220000902664-22-001645opens on sec.gov in a new tab
  • SC 13G/A14 February 20220000905718-22-000365opens on sec.gov in a new tab
  • SC 13G/A11 February 20220000902664-22-001537opens on sec.gov in a new tab
  • SC 13G/A10 February 20220000902664-22-001365opens on sec.gov in a new tab
  • 8-K6 December 20210001104659-21-146759opens on sec.gov in a new tab
  • 10-Q12 November 20210001104659-21-137967opens on sec.gov in a new tab
    What changed vs 2021-08-12trust $402.6M → $402.7M +0%shares 31.3M → 40.3M +29%
    trust account, redeemable shares, going-concern doubt +12 moved · 2 with no prior record of ours
    Trust account
    $402.6M$402.7M

    SpacBrain reads this as $28,797 was added to the trust between the two filings.

    The clause …“assets ​ 1,122,467 ​ 1,704,127 ​ ​ ​ ​ ​ ​ ​ Cash and marketable securities held in Trust Account ​ 402,671,143 ​ 402,585,717 Other long-term assets ​ ​ — ​ ​ 168,403 TOTAL ASSETS ​ $ 403,793,610 ​ $ 404,458,247 ​ ​ ​ ​ ​ ​ ​”…

    Redeemable shares
    31.3M40.3M

    SpacBrain reads this as 8,941,798 more shares carry a redemption right.

    The clause …“authorized; 1,005,000 issued and outstanding at December 31, 2020 (excluding 40,250,000 shares subject to possible redemption) ​ 1,906 ​ ( 1,805 ) ​ 101 Class B ordinary shares, par value; 10,000,000 shares authorized; 4,472,222 issued”…

    Going-concern doubt
    stated · unchanged

    The clause …“to funds in the trust account. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to”…

    Mandate language
    we are focusing on the biotechnology sector to capitalize on… · unchanged

    Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.

  • SC 13G/A8 November 20210000905718-21-001449opens on sec.gov in a new tab
  • SC 13G1 November 20210000905718-21-001413opens on sec.gov in a new tab
  • 10-Q12 August 20210001104659-21-104241opens on sec.gov in a new tab
    What changed vs 2021-05-17trust $402.6M → $402.6M +0%shares 27.6M → 31.3M +13%
    trust account, redeemable shares, going-concern doubt +12 moved · 2 with no prior record of ours
    Trust account
    $402.6M$402.6M

    SpacBrain reads this as $4,957 was added to the trust between the two filings.

    The clause …“assets ​ 1,295,497 ​ 1,704,127 ​ ​ ​ ​ ​ ​ ​ Cash and marketable securities held in Trust Account ​ 402,642,346 ​ 402,585,717 Other long-term assets ​ ​ 47,152 ​ ​ 168,403 TOTAL ASSETS ​ $ 403,984,995 ​ $ 404,458,247 ​ ​ ​ ​ ​ ​ ​”…

    Redeemable shares
    27.6M31.3M

    SpacBrain reads this as 3,720,407 more shares carry a redemption right.

    The clause “0 shares authorized; 9,946,798 and 19,064,035 issued and outstanding (excluding 31,308,202 and 22,190,965 shares subject to possible redemption) at June 30, 2021 and December 31, 2020, respectively ​ 995 ​ 1,906 Class B ordinary shares, $”…

    Going-concern doubt
    stated · unchanged

    The clause …“to funds in the trust account. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to”…

    Mandate language
    we are focusing on the biotechnology sector to capitalize on… · unchanged

    Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.

  • 10-Q17 May 20210001104659-21-068280opens on sec.gov in a new tab
    What changed vs 2020-11-09trust $402.5M → $402.6M +0%going concern APPEAREDshares 38.5M → 27.6M -28%
    trust account, going-concern doubt, redeemable shares +13 moved · 1 with no prior record of ours
    Trust account
    $402.5M$402.6M

    SpacBrain reads this as $137,389 was added to the trust between the two filings.

    The clause “260,000 Total current assets 1,512,890 1,704,127 Cash and marketable securities held in Trust Account 402,637,389 402,585,717 Other long-term assets 107,777 168,403 TOTAL ASSETS $ 404,258,056 $ 404,458,247 LIABILITIES AND SHAREHOLDERS’”…

    Going-concern doubt
    not statedstated

    SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.

    The clause …“to funds in the trust account. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to”…

    Redeemable shares
    38.5M27.6M

    SpacBrain reads this as 10,871,492 shares are no longer redeemable.

    The clause …“authorized; 13,667,205 and 19,064,035 issued and outstanding (excluding 27,587,795 and 22,190,965 shares subject to possible redemption) at March 31, 2021 and December 31, 2020, respectively 1,367 1,906 Class B ordinary shares,”…

    Mandate language
    not previously extractedwe are focusing on the biotechnology sector to capitalize on…

    Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.

  • 10-K/A17 May 20210001104659-21-068220opens on sec.gov in a new tab
  • 8-K17 May 20210001104659-21-068204opens on sec.gov in a new tab
  • SC 13G14 May 20210000919574-21-003468opens on sec.gov in a new tab
  • SC 13G22 April 20210000902664-21-002427opens on sec.gov in a new tab
  • 10-K31 March 20210001104659-21-044101opens on sec.gov in a new tab
  • SC 13G16 February 20210000935836-21-000169opens on sec.gov in a new tab
  • SC 13G16 February 20210000950142-21-000606opens on sec.gov in a new tab
  • SC 13G12 February 20210000902664-21-001264opens on sec.gov in a new tab
  • 10-Q9 November 20200001104659-20-122896opens on sec.gov in a new tab

    What changed: First 10-Q of a company incorporated July 7, 2020, with an unusual three-class structure. Cash and marketable securities held in Trust Account are exactly $402,500,000 at September 30, 2020 - no interest at all - with 38,459,287 Class A shares subject to possible redemption at $10.00 = $384,592,874, 2,795,713 Class A outside, 4,472,222 Class B and a separate class of CLASS L ordinary shares. Deferred underwriting is $14,087,500; the period's net loss is $84,593. Why it matters: The Class L shares are a sponsor-incentive instrument, not founder shares: up to 5,555,556 convert into Class A only on First and Second Price Vesting targets, they also vest on specified strategic transactions after the first anniversary, and any still outstanding on the tenth anniversary of the business combination are automatically forfeited. Treating them as ordinary founder shares would overstate insider ownership at closing. The trust stands exactly at its deposit with zero earnings, a September 30, 2020 balance and not a redemption price.

  • 8-K29 October 20200001104659-20-119553opens on sec.gov in a new tab
  • 8-K18 September 20200001104659-20-106512opens on sec.gov in a new tab

    What changed: Item 8.01: Ribbit LEAP reports that its September 15, 2020 IPO of 40,250,000 units at $10.00, including 5,250,000 over-allotment units, together with the private placement of 1,005,000 shares at $10.00 to Ribbit LEAP Sponsor, produced $402,500,000 of offering proceeds placed in trust with Continental Stock Transfer as trustee. Each unit is one Class A ordinary share and one-fifth of a redeemable warrant at $11.50. An audited balance sheet as of September 15, 2020 is filed as an exhibit. Why it matters: This filing states the trust-release terms, and they are not the standard 24-month formulation: the charter provides for redemption of all public shares if no initial business combination is completed within 24 months of the IPO closing, OR within 27 months if the company has executed a letter of intent, agreement in principle or definitive agreement for a business combination within those first 24 months. The extra three months is conditional on a signing, not automatic.

  • 8-K16 September 20200001104659-20-105434opens on sec.gov in a new tab

    What changed: Item 1.01: Ribbit LEAP's Form S-1 was declared effective September 10, 2020, a Rule 462(b) registration statement followed on September 14, and on September 15, 2020 the company consummated its IPO of 40,250,000 units at $10.00 for $402,500,000 gross, including 5,250,000 units from the underwriter's over-allotment exercise. Each unit is one Class A ordinary share and one-fifth of a redeemable warrant at $11.50. Agreements dated September 10 include underwriting with J.P. Morgan Securities, warrant, trust and registration and shareholder rights agreements with Continental Stock Transfer. Why it matters: Two structural features set this vehicle apart from its 2020 peers. Warrant coverage is one-fifth of a warrant per unit, materially less dilutive than the one-third or one-half then standard. And the sponsor's at-risk investment came as a Private Placement SHARE Purchase Agreement — Ribbit LEAP Sponsor bought 1,005,000 Class A ordinary shares — rather than the usual private placement warrants, so the sponsor sits alongside public holders in the same class.

  • 424B414 September 20200001047469-20-004858opens on sec.gov in a new tab

    What changed: IPO pricing prospectus for Ribbit LEAP, Ltd.: 35,000,000 units at $10.00, each one Class A ordinary share and ONE-FIFTH of one redeemable warrant at $11.50. $350.0m ($402.5m with the over-allotment), $10.00 per unit either way, into a Continental trust, including $0.35 per unit ($12,250,000) deferred. The sponsor's affiliate signs a forward purchase agreement for 10,000,000 Class A shares and 2,000,000 warrants at $100,000,000. Twenty-four months to complete, or 27 if a letter of intent or definitive agreement is executed inside the first 24. NYSE LEAP.U / LEAP / LEAP.WS. Why it matters: One-fifth of a warrant per unit is among the thinnest warrant coverage in this tier, so five units are needed for one exercisable warrant. More unusual is the adjustment: this prospectus applies 180% of the higher of the Market Value and the Newly Issued Price to BOTH the $18.00 cash redemption and the $10.00 share redemption, where its contemporaries reset the $10.00 trigger to 100% of that value. Two documents from the same season therefore give the same-named term two different formulas.

  • 310 September 20200001104659-20-104112opens on sec.gov in a new tab
  • 310 September 20200001104659-20-104115opens on sec.gov in a new tab
  • 310 September 20200001104659-20-104114opens on sec.gov in a new tab
  • 310 September 20200001104659-20-104113opens on sec.gov in a new tab
  • 310 September 20200001104659-20-104117opens on sec.gov in a new tab

The complete LEAP filing history on EDGARopens on sec.gov in a new tab

In plain English

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.