HH&L Acquisition Co.

CIK:0001824185|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
General and administrative expenses	$ 486,376	$ 1,395,693	$ 1,934,830	$ 2,499,624
Administrative expenses - related party	45,000	45,000	135,000	135,000
Compensation expenses incurred for transfer of class B ordinary shares to NRA Investors	4,060,164		4,060,164
Loss from operations	(4,591,540)	(1,440,693)	(6,129,994)	(2,634,624)
Other income (expenses):
Change in fair value of derivative warrant liabilities	(309,800)	4,337,200	619,600	16,419,400
Income from cash and investments held in Trust Account	529,813	1,872,086	3,534,347	2,493,903
Total other income (expenses)	220,013	6,209,286	4,153,947	18,913,303
Net (loss) income	$ (4,371,527)	$ 4,768,593	$ (1,976,047)	$ 16,278,679
Class A ordinary shares
Other income (expenses):
Basic weighted average shares outstanding	5,262,141	41,400,000	12,223,962	41,400,000
Diluted weighted average shares outstanding	5,262,141	41,400,000	12,223,962	41,400,000
Basic net (loss) income per ordinary share	$ (0.28)	$ 0.09	$ (0.09)	$ 0.31
Diluted net (loss) income per ordinary share	$ (0.28)	$ 0.09	$ (0.09)	$ 0.31
Class B ordinary shares
Other income (expenses):
Basic weighted average shares outstanding	10,350,000	10,350,000	10,350,000	10,350,000
Diluted weighted average shares outstanding	10,350,000	10,350,000	10,350,000	10,350,000
Basic net (loss) income per ordinary share	$ (0.28)	$ 0.09	$ (0.09)	$ 0.31
Diluted net (loss) income per ordinary share	$ (0.28)	$ 0.09	$ (0.09)	$ 0.31

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash Flows from Operating Activities:
Net (loss) income			$ (1,976,047)	$ 16,278,679
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Income from cash and investments held in Trust Account	$ (529,813)	$ (1,872,086)	(3,534,347)	(2,493,903)
Change in fair value of derivative warrant liabilities	309,800	(4,337,200)	(619,600)	(16,419,400)
Compensation expenses incurred for transfer of class B ordinary shares to NRA Investors	4,060,164		4,060,164
Changes in operating assets and liabilities:
Prepaid expenses			(119,636)	188,607
Accounts payable			401,554	(40,766)
Accounts payable - related party			140,000	135,000
Accrued expenses			1,122,487	1,744,985
Net cash used in operating activities			(525,425)	(606,798)
Cash Flows from Investing Activities:
Cash deposited in Trust Account			(1,627,500)
Sale of investments held in Trust account			380,490,114
Net cash provided by investing activities			378,862,614
Cash Flows from Financing Activities:
Proceeds from convertible promissory note - related party			300,000	500,000
Proceeds from non-convertible promissory note - related party			570,000
Proceeds from Capital Contribution Note			500,000
Proceeds from due to third party			895,000
Repayment of convertible promissory note - related party			(10,000)
Redemption of Class A ordinary shares			(380,490,114)
Net cash (used in) provided by financing activities			(378,235,114)	500,000
Net change in cash			102,075	(106,798)
Cash - beginning of the period			21,259	399,935	$ 399,935
Cash - end of the period	$ 123,334	$ 293,137	$ 123,334	$ 293,137	$ 21,259

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 123,334	$ 21,259
Prepaid expenses	163,306	43,670
Total current assets	286,640	64,929
Cash and Investments held in Trust Account	44,764,035	420,092,302
Total Assets	45,050,675	420,157,231
Current liabilities:
Accrued expenses	5,247,177	4,124,690
Working capital loan - related party	500,000	$ 500,000
Non-convertible promissory note - related party	570,000
Convertible promissory note - related party	290,000
Capital Contribution Note	500,000
Due to Third Party	$ 895,000
Other Liability, Current, Related Party, Type [Extensible Enumeration]	Related Party	Related Party
Total current liabilities	$ 9,059,606	$ 5,140,565
Derivative warrant liabilities	929,400	1,549,000
Deferred underwriting commissions	5,796,000	5,796,000
Total liabilities	15,785,006	12,485,565
Commitments and Contingencies (Note 7)
Class A ordinary shares subject to possible redemption, $0.0001 par value; 4,205,185 and 41,400,000 shares at approximately $10.62 and $10.14 per share as of September 30, 2023 and December 31, 2022, respectively	44,664,035	419,992,302
Shareholders' Deficit:
Preference shares, $0.0001 par value 5,000,000 shares authorized none issued or outstanding
Additional paid-in capital	4,060,164
Accumulated deficit	(19,459,565)	(12,321,671)
Total shareholders' deficit	(15,398,366)	(12,320,636)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit	45,050,675	420,157,231
Related Party
Current liabilities:
Accounts payable	485,000	345,000
Nonrelated Party
Current liabilities:
Accounts payable	572,429	170,875
Class A ordinary shares
Shareholders' Deficit:
Ordinary shares	0	0
Class A ordinary shares subject to possible redemption
Current liabilities:
Class A ordinary shares subject to possible redemption, $0.0001 par value; 4,205,185 and 41,400,000 shares at approximately $10.62 and $10.14 per share as of September 30, 2023 and December 31, 2022, respectively	44,664,035	419,992,302
Class B ordinary shares
Shareholders' Deficit:
Ordinary shares	$ 1,035	$ 1,035