SCAQ SEC filings, in plain English
Everything Stratim Cloud Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 1 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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What changed: Stratim Cloud Acquisition Corp. filed a preliminary proxy statement dated June 14, 2023 for a special meeting in lieu of its 2023 annual meeting, on the Membership Interests Purchase Agreement dated March 21, 2023 with Force Pressure Control, LLC and its members. The company is renamed Force Pressure Control, Inc. and reorganised into an Up-C structure: FPC recapitalises all outstanding membership interests into 24 million FPC Common Units, adopts a new LLC agreement admitting the company as sole managing member, and creates a Class C common stock of $0.0001 par value. Why it matters: This is a cash purchase of units rather than a share-for-share merger: the company buys up to 12,000,000 Sold Units from the FPC Members for up to $120,000,000 before any net working capital adjustment, while the members must retain at least 50% of the units outstanding after the recapitalisation and take non-economic Class C stock alongside. The earnout pays only above a Minimum EBITDA Target of $60,000,000 of 2023 EBITDA — 200,000 units and shares for each $1,000,000 above it, capped at 3,000,000 — and the company may instead pay $12.50 in cash per unit and share.
- What changed vs 2022-11-14trust $250.8M → $64.5M -74%deadline 2023-03-16 → 2023-09-16sponsor loan $300K → $250Kshares 25.0M → 6.26M -75%
trust account, combination deadline, sponsor loans outstanding +24 moved · 1 with no prior record of ours
- Trust account
- $250.8M$64.5M
- Combination deadline
- 2023-03-162023-09-16
- Sponsor loans outstanding
- $300K$250K
- Redeemable shares
- 25.0M6.26M
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $186,314,360 left the trust between the two filings.
The clause …“64,047 Total Current Assets 337,271 466,949 Cash and marketable securities held in Trust Account 64,501,029 252,973,594 TOTAL ASSETS $ 64,838,300 $ 253,440,543 LIABILITIES, COMMITMENTS AND CONTINGENCIES, REDEEMABLE CLASS A COMMON”…
SpacBrain reads this as 184 days later than the previous record.
The clause …“Topic 205-40, “Presentation of Financial Statements – Going Concern,” we have until September 16, 2023, or such earlier date as determined by the board, to consummate an initial business combination. It is uncertain that we will be”…
SpacBrain reads this as $50,000 of sponsor debt has come off.
The clause …“number of shares of Company Class C Common Stock issued by the Company). The outstanding balance under this Loan was $ 250,000 as of March 31, 2023. NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights Pursuant to a registration”…
SpacBrain reads this as 18,744,981 shares are no longer redeemable.
The clause …“75,000,000 shares authorized; no shares issued and outstanding (excluding 6,255,019 and 25,000,000 shares subject to possible redemption) at March 31, 2023 and December 31, 2022, respectively — — Class B common stock, $ 0.0001 par”…
The clause …“terms, if at all. Management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
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.
- What changed vs 2022-04-01trust $250.0M → $253.0M +1%deadline 2023-03-16 → 2023-09-16going concern APPEARED
trust account, combination deadline, going-concern doubt +33 moved · 3 with no prior record of ours
- Trust account
- $250.0M$253.0M
- Combination deadline
- 2023-03-162023-09-16
- Going-concern doubt
- not statedstated
- Sponsor loans outstanding
- $300K · unchanged
- Mandate language
- we intend to focus our search on software companies in the U…not matched in this filing
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $2,959,161 was added to the trust between the two filings.
The clause …“operating activities. As of December 31, 2022, we had marketable securities held in the Trust Account of $252,973,594. On March 10, 2023, our stockholders voted to approve an amendment to our certificate of incorporation to (i) extend”…
SpacBrain reads this as 184 days later than the previous record.
The clause …“a price of $11.50 per share, subject to adjustment. If we do not complete a Business Combination by September 16, 2023, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern.” As of December 31, 2022, we had approximately $402,000 cash in hand, and negative”…
The clause …“(i) June 30, 2021 or (i) the consummation of the Initial Public Offering. The outstanding balance under the Promissory Note of $ 300,000 was repaid at the closing of the Initial Public Offering on March 16, 2021. Related Party Loans In”…
The clause …“75,000,000 shares authorized; no shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) at December 31, 2022 and 2021 — — Class B common stock, $ 0.0001 par value; 10,000,000 shares authorized;”…
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.
- What changed vs 2022-08-15trust $250.3M → $250.8M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $250.3M$250.8M
- Combination deadline
- 2023-03-16 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $300K · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $483,150 was added to the trust between the two filings.
The clause …“96,480 218,492 Total Current Assets 639,534 1,171,241 Marketable Securities held in Trust Account 250,815,389 250,014,433 TOTAL ASSETS $ 251,454,923 $ 251,185,674 LIABILITIES, COMMITMENTS AND CONTINGENCIES AND STOCKHOLDERS’ DEFICIT”…
The clause …“Topic 205-40, “Presentation of Financial Statements – Going Concern,” we have until March 16, 2023, to consummate an initial business combination. It is uncertain that we will be able to consummate an initial business combination”…
The clause …“terms, if at all. Management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“(i) June 30, 2021 or (i) the consummation of the Initial Public Offering. The outstanding balance under the Promissory Note of $ 300,000 was repaid at the closing of the Initial Public Offering on March 16, 2021. Related Party Loans In”…
The clause …“75,000,000 shares authorized; no shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) at September 30, 2022 and December 31, 2021 — — Class B common stock, $ 0.0001 par value; 10,000,000 shares”…
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.
- What changed vs 2022-05-16trust $250.0M → $250.3M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $250.0M$250.3M
- Combination deadline
- 2023-03-16 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $300K · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $381,734 was added to the trust between the two filings.
The clause …“160,317 218,492 Total Current Assets 750,886 1,171,241 Marketable Securities held in Trust Account 250,332,239 250,014,433 TOTAL ASSETS $ 251,083,125 $ 251,185,674 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accrued”…
The clause …“Topic 205-40, “Presentation of Financial Statements – Going Concern,” we have until March 16, 2023, to consummate an initial business combination. It is uncertain that we will be able to consummate an initial business combination”…
The clause …“terms, if at all. Management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“(i) June 30, 2021 or (i) the consummation of the Initial Public Offering. The outstanding balance under the Promissory Note of $ 300,000 was repaid at the closing of the Initial Public Offering on March 16, 2021. Related Party Loans In”…
The clause …“75,000,000 shares authorized; no shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) at June 30, 2022 and December 31, 2021 — — Class B common stock, $ 0.0001 par value; 10,000,000 shares”…
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.
- What changed vs 2021-11-09trust $250.0M → $250.0M -0%going concern APPEARED
trust account, going-concern doubt, combination deadline +22 moved · 3 with no prior record of ours
- Trust account
- $250.0M$250.0M
- Going-concern doubt
- not statedstated
- Combination deadline
- 2023-03-16 · unchanged
- Sponsor loans outstanding
- $300K · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $57,715 left the trust between the two filings.
The clause “214,988 218,492 Total Current Assets 1,066,376 1,171,241 Marketable Securities held in Trust Account 249,950,505 250,014,433 TOTAL ASSETS $ 251,016,881 $ 251,185,674 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accrued”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“business combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“Topic 205-40, “Presentation of Financial Statements – Going Concern,” we have until March 16, 2023, to consummate an initial business combination. It is uncertain that we will be able to consummate an initial business combination”…
The clause …“(i) June 30, 2021 or (i) the consummation of the Initial Public Offering. The outstanding balance under the Promissory Note of $ 300,000 was repaid at the closing of the Initial Public Offering on March 16, 2021. Related Party Loans In”…
The clause …“75,000,000 shares authorized; no shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) at March 31, 2022 and December 31, 2021 — — Class B common stock, $ 0.0001 par value; 10,000,000 shares”…
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.
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.