Edify Acquisition Corp.

CIK:0001832765|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
General and administrative expenses	$ 498,585	$ 243,761	$ 1,722,461	$ 841,652
Loss from operations	(498,585)	(243,761)	(1,722,461)	(841,652)
Other income:
Interest earned on marketable securities held in Trust Account	170,356	1,218,601	529,491	1,593,801
Change in fair value of warrant liabilities	194,400	1,222,800	194,400	8,860,800
Waiver of deferred underwriting fee			394,100
Total other income	364,756	2,441,401	1,117,991	10,454,601
Income (loss) before provision for income taxes	(133,829)	2,197,640	(604,470)	9,612,949
Provision for income taxes	(35,859)	(243,408)	(101,365)	(265,419)
Net income (loss)	$ (169,688)	$ 1,954,232	$ (705,835)	$ 9,347,530
Class A Common Stock
Other income:
Basic weighted average shares outstanding (in Shares)	3,362,474	27,600,000	2,256,211	27,600,000
Basic net income (loss) per share (in Dollars per share)	$ (0.02)	$ 0.06	$ (0.08)	$ 0.27
Class B Common Stock
Other income:
Basic weighted average shares outstanding (in Shares)	4,725,000	6,900,000	6,167,033	6,900,000
Basic net income (loss) per share (in Dollars per share)	$ (0.02)	$ 0.06	$ (0.08)	$ 0.27

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net (loss) income	$ (705,835)	$ 9,347,530
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Change in fair value of warrant liabilities	(194,400)	(8,860,800)
Waiver of deferred underwriting fee	(394,100)
Interest earned on marketable securities held in Trust Account	(529,491)	(1,593,801)
Prepaid expenses	(7,774)	294,187
Prepaid income taxes	(8,574)
Accounts payable and accrued expenses	517,602	(81,116)
Income taxes payable	(68,061)	204,419
Net cash used in operating activities	(1,390,633)	(689,581)
Cash Flows from Investing Activities:
Investment of cash in Trust Account	(1,011,064)
Bank service charge reimbursement	(45)
Cash withdrawn from Trust Account in connection with redemption	10,781,567
Net cash provided by investing activities	9,770,458
Cash Flows from Financing Activities:
Advances from related party	2,391,524	689,581
Redemption of common stock	(10,781,567)
Net cash (used in) provided by financing activities	(8,390,043)	689,581
Net Change in Cash	(10,218)
Cash - Beginning of period	67,944	67,944
Cash - End of period	57,726	67,944
Non-Cash Investing and Financing Activities:
Cash paid for income taxes	178,000	675,000
Excise tax liability arising from redemption of shares	107,814
Waiver of deferred underwriting fee	$ 5,622,700

Condensed Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 57,726	$ 67,944
Prepaid expenses	77,489	69,715
Prepaid income taxes	8,574
Total Current Assets	143,789	137,659
Investments and cash held in Trust Account	10,911,743	20,152,710
TOTAL ASSETS	11,055,532	20,290,369
Current liabilities:
Accounts payable and accrued expenses	834,802	317,199
Excise tax payable	107,814
Income taxes payable		68,061
Total Current Liabilities	3,985,939	1,037,059
Deferred underwriting fee payable	3,643,200	9,660,000
Warrant liabilities	388,800	583,200
TOTAL LIABILITIES	8,017,939	11,280,259
Commitments and Contingencies
Class A common stock subject to possible redemption $0.0001 par value; 990,429 and 1,970,384 shares at approximately $10.82 and $10.23 per share redemption value as of September 30, 2023 and December 31, 2022, respectively	10,721,019	20,110,081
Stockholders’ Deficit
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding as of September 30, 2023 and December 31, 2022
Additional paid-in capital
Accumulated deficit	(7,684,116)	(11,100,661)
Total Stockholders’ Deficit	(7,683,426)	(11,099,971)
TOTAL LIABILITIES, CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION, AND STOCKHOLDERS’ DEFICIT	11,055,532	20,290,369
Class A Common Stock
Current liabilities:
Class A common stock subject to possible redemption $0.0001 par value; 990,429 and 1,970,384 shares at approximately $10.82 and $10.23 per share redemption value as of September 30, 2023 and December 31, 2022, respectively	10,721,019	20,110,081
Stockholders’ Deficit
Common stock value	690
Class B Common Stock
Stockholders’ Deficit
Common stock value		690
Related Party [Member]
Current liabilities:
Advance from related parties	$ 3,043,323	$ 651,799