10X Capital Venture Acquisition Corp. III

CIK:0001848948|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	$ 2,534,363	$ 223,782	$ 5,948,164	$ 865,593
Administrative expenses - related party	112,500	112,500	337,500	337,500
Loss from operations	(2,646,863)	(336,282)	(6,285,664)	(1,203,093)
Other income (loss):
Gain on settlement agreement			4,000,000
Income from investments held in Trust Account	544,460	1,448,249	1,210,332	1,855,099
Change in fair value of non-redemption agreement liabilities	(188,654)		(181,794)
Loss in connection with non-redemption agreement			(41,161)
Total other income	355,806	1,448,249	4,987,377	1,855,099
Net (loss) income	$ (2,291,057)	$ 1,111,967	$ (1,298,287)	$ 652,006
Class A Ordinary Shares
Other income (loss):
Weighted average ordinary shares - basic (in Shares)	5,209,190	31,153,000	6,824,738	29,669,524
Weighted average ordinary shares - diluted (in Shares)	5,209,190	31,153,000	6,824,738	29,669,524
Basic income (loss) per share, ordinary shares (in Dollars per share)	$ (0.15)	$ 0.03	$ (0.08)	$ 0.02
Class B Ordinary Shares
Other income (loss):
Weighted average ordinary shares - basic (in Shares)	10,000,000	10,000,000	10,000,000	9,938,095
Weighted average ordinary shares - diluted (in Shares)	10,000,000	10,000,000	10,000,000	10,000,000
Basic income (loss) per share, ordinary shares (in Dollars per share)	$ (0.15)	$ 0.03	$ (0.08)	$ 0.02

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net income (loss)	$ (1,298,287)	$ 652,006
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Income from investments held in Trust Account	(1,210,332)	(1,855,099)
Change in fair value of non-redemption agreement liabilities	181,794
Loss in connection with non-redemption agreement	41,161
Changes in operating assets and liabilities:
Prepaid expenses	(51,737)	(73,732)
Accounts payable	146,333	95,234
Accrued legal expenses	3,149,471	21,629
Accrued expenses - other	(128,649)	109,013
Net cash provided by (used in) operating activities	829,754	(1,050,949)
Cash Flows from Investing Activities:
Cash deposited in Trust Account		(304,500,000)
Cash withdrawn from trust for payment to redeeming shareholders	266,701,252
Net cash provided by (used in) investing activities	266,701,252	(304,500,000)
Cash Flows from Financing Activities
Repayment of note payable to related party		(136,617)
Proceeds received from initial public offering, gross		300,000,000
Proceeds received from private placement		11,530,000
Proceeds received from promissory note - related party	646,657
Repayment of promissory note - related party	(896,657)
Payment to redeeming shareholders	(266,701,252)
Offering costs paid		(5,714,580)
Net cash (used in) provided by financing activities	(266,951,252)	305,678,803
Net Change in Cash	579,754	127,854
Cash - Beginning of period	67,093
Cash - End of period	646,847	127,854
Supplemental disclosure of noncash investing and financing
Offering costs included in accounts payable		(87,025)
Offering costs included in accrued expenses		(208,854)
Offering costs paid by related party under promissory note		1,847
Deferred underwriting commissions		14,280,000
Shareholder non-redemption agreement	222,955
Accretion of Class A ordinary shares to redemption value	$ 1,210,332

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 646,847	$ 67,093
Prepaid expenses	177,961	126,224
Total current assets	824,808	193,317
Investments held in Trust Account	43,170,595	308,661,515
Total Assets	43,995,403	308,854,832
Current liabilities:
Accounts payable	822,682	676,349
Accrued legal expenses	4,524,540	1,375,069
Accrued expenses - other	176,729	305,378
Promissory note - related party		250,000
Class A ordinary shares tendered for redemption		266,701,252
Total current liabilities	5,523,951	269,308,048
Deferred underwriting commissions	14,280,000	14,280,000
Total Liabilities	19,803,951	283,588,048
Commitments and Contingencies
Class A ordinary shares subject to possible redemption; 4,056,190 and 30,000,000 shares outstanding at redemption value of approximately $10.62 and $10.32 per share as of September 30, 2023 (unaudited) and December 31, 2022, respectively	43,070,595	41,860,263
Shareholders’ Deficit:
Preference shares, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding as of September 30, 2023 (unaudited) and December 31, 2022, respectively
Additional paid-in capital
Accumulated deficit	(18,880,258)	(16,594,594)
Total Shareholders’ Deficit	(18,879,143)	(16,593,479)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit	43,995,403	308,854,832
Class A Ordinary Shares
Shareholders’ Deficit:
Ordinary shares value	115	115
Class B Ordinary Shares
Shareholders’ Deficit:
Ordinary shares value	$ 1,000	$ 1,000