Pathfinder Acquisition Corp
PFDR · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Pathfinder Acquisition LLC, listed on Nasdaq in February 2021.
- What it's doing now
- It agreed to buy Movella Holdings Inc.. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Movella Holdings Inc. — as a business combination partner.
- Industry
- the deal record does not name the target's industry yet
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 18 February 2021
- size not on file
- Headquarters
- 3535 EXECUTIVE TERMINAL DRIVE, HENDERSON, NV, 89052
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Lee Ben A (Director) · SMITH STEPHEN M (Chief Financial Officer) · Ross Patricia M. (Director)
- Listed securities
- PFDR common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 8 February 2023 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 18 February 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
- Min-cash condition
- $100M
stated in:0001213900-21-062208
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
28.96M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Feb 8, 2023Deal voteno rate stated
The score
deterministic, from filed fieldsPFDR is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Pathfinder Acquisition Corp was a blank-check company whose common stock traded on Nasdaq under the ticker PFDR. The company priced its initial public offering on February 18, 2021, pursuant to a 424B prospectus filed under SEC file number 333-252498, which corresponded to S-1 registration statement 0001213900-21-004784 filed on January 28, 2021. The registrant self-described as a blank-check company in that prospectus and was classified under SEC SIC industry code 7372, Services-Prepackaged Software. On February 13, 2023, the company filed an 8-K reporting a change in shell company status under item 5.06, establishing that it had completed a business combination and no longer files as a blank-check vehicle. EDGAR now lists SEC CIK 0001839132 under the name Movella Holdings Inc.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
A $75 million secured note issued at closing is debt ranking ahead of PFDR holders' equity in a company valued at $375 million pre-transaction — a fifth of the enterprise value handed to a creditor as the price of a non-redemption agreement. That arrangement keeps trust cash in the deal but transfers the benefit to FP rather than to remaining public holders. Redemption at trust value is the alternative to accepting that capital structure.
91,756,975 shares is the ceiling on issuance, with warrants over a further 10,750,000, so a Pathfinder shareholder can size the dilution from this version. At the domestication both Class A and Class B ordinary shares of $0.0001 par value convert into a single class of New Movella common stock of $0.00001 par value, and each whole warrant becomes exercisable for one share at $11.50. Shareholders vote on the Domestication and on the Business Combination as separate items at the same extraordinary general meeting.
The registered ceiling is fixed at this first amendment: 91,756,975 shares with warrants over a further 10,750,000. At the domestication both Class A and Class B ordinary shares of $0.0001 par value convert into a single class of New Movella common stock of $0.00001 par value, so the founder class does not survive as a separate class, and each whole warrant becomes exercisable for one share at $11.50. Shareholders vote on the Domestication and on the Business Combination as separate items.
Much of what is registered is Pathfinder's own converting capital, not merger consideration: each Class A and Class B ordinary share becomes one share of New Movella common stock, each whole warrant becomes a warrant for one New Movella share at $11.50, and each unseparated unit becomes one share plus one-fifth of a warrant. The exchange for Movella stockholders and the conversion of Movella options are based on an implied Movella pre-transaction equity value of $375 million, subject to certain adjustments.
Every line is Pathfinder's own capital converting in the Domestication rather than consideration for the target: 32,500,000 Class A ordinary shares underlying the units issued in Pathfinder's initial public offering and 8,125,000 Class B ordinary shares held by the Initial Shareholders, with the warrants split 6,500,000 public and 4,250,000 private placement. Both the $9.85 share price and the $1.10 warrant price are August 6, 2021 high-low averages on the Nasdaq Capital Market, months before this amendment, and the fee footnote prints the multiplier with a currency sign, as $0.0001091.
Everything in this fee table is the SPAC's own capital converting rather than merger consideration: 32,500,000 Class A ordinary shares underlying the units issued in Pathfinder's initial public offering and 8,125,000 Class B ordinary shares held by the Initial Shareholders, with the warrants split 6,500,000 public and 4,250,000 private placement. A reader treating the $400,156,250 on the share line as a deal value would be reading Pathfinder's own float; the stock issued to the target is not in this table.
Show 2 more material filings
Everything registered here is the SPAC's own capital converting rather than merger consideration: 32,500,000 Class A ordinary shares underlying the units sold in Pathfinder's initial public offering and 8,125,000 Class B ordinary shares held by the Initial Shareholders. The warrants split 6,500,000 public and 4,250,000 private placement. The $9.85 and $1.10 are Nasdaq high-low averages on August 6, 2021 used only to compute the fee, so nothing in this table sizes what the target's holders receive.
Everything in this fee table is the SPAC's own capital converting rather than merger consideration: 32,500,000 Class A ordinary shares underlying units from the initial public offering plus 8,125,000 Class B ordinary shares held by the Initial Shareholders, with warrants split 6,500,000 public against 4,250,000 private placement. The founder block is a quarter of the public share count while the private warrants are roughly two-thirds of the public warrants, so the sponsor's warrant position is proportionally far larger than its share position.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Pathfinder Acquisition LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1280 tracked SPACs (24%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B3 0001628280-24-033169
Trading & liquidity
Company profile
Directors & officers
- Lee Ben ADirector
- SMITH STEPHEN MChief Financial Officer
- Ross Patricia M.Director
- LANG BRENT D.Director
- Huizinga StuartDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
7 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- FP CREDIT PARTNERS II, L.P.with 4 other reporting persons on the same schedule16.7% · SC 13GFeb 21, 2023 stale
- Pathfinder Acquisition LLC14.8% · SC 13G/AFeb 13, 2024 stale
- KLEINER PERKINS CAUFIELD & BYERS XIII, LLCwith 1 other reporting person on the same schedule10.2% · SC 13DFeb 17, 2023 stale
- GIC Private Ltdwith 2 other reporting persons on the same schedule8.1% · SC 13GFeb 17, 2023 stale
- TAIWAN SEMICONDUCTOR MANUFACTURING CO LTDwith 1 other reporting person on the same schedule6.1% · SC 13GFeb 17, 2023 stale
- Alpha Wave Global, LPwith 1 other reporting person on the same schedule0.0% · SC 13GFeb 14, 2024 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 13, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- Movella Announces Closing of Business Combination With Pathfinder Acquisition Corp.
GlobeNewswireundated by the source
- Movella, a Global Leader in Digitization of Movement, to Become Publicly Traded on Nasdaq via Business Combination With Pathfinder Acquisition Corporation
Business Wireundated by the source
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
37 full SEC filing texts archived — searchable, never lost.
- Vault note — PFDR (Pathfinder Acquisition Corp)
vault-note · /vault/tickers/PFDR
- Vault deal note — Movella Holdings Inc. (PFDR)
vault-note · /vault/deals/movella-holdings-inc
- Movella Holdings (MVLA) Stock News & Updates | StockTitan
news · stocktitan.net
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
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.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
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.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
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.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail3 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 7372 (Services-Prepackaged Software). The screen found it by filing SHAPE instead — S-1 2021-01-28 → 8-A12B 2021-02-16 → 424B4 2021-02-18 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 7372 + self-described blank check in 424B4 0001213900-21-010375; 424B 0001213900-21-010375 priced 2021-02-18 under S-1 0001213900-21-004784 (file 333-252498, an offering for cash); common ticker PFDR off 10-Q 0001213900-22-071669 (2022-11-14); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-252498, which belongs to S-1 0001213900-21-004784 (2021-01-28) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-02-18). Ending PROVEN, not inferred: CLOSED per 8-K 0001193125-23-035948 (2023-02-13) — 8-K item 5.06 "Change in Shell Company Status" (EDGAR item index, items: 1.01,2.01,2.03,3.02,3.03,4.01,5.01,5.02,5.03,5.05,5.06,7.01,9.01). EDGAR now files this CIK as "Movella Holdings Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Pathfinder Acquisition LLC" (SEC CIK 0001839205) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-011209.
[CLOSED-RENAME] EDGAR CIK 0001839132 records "Pathfinder Acquisition Corp" ending 2023-02-10; the registrant continues as "Movella Holdings Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2023-02-10. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] minCashM=100 from primary filings (0001213900-21-062208).