Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2022

Class A Common Stock Subject to Possible Redemption

The Class A common stock subject to possible redemption reflected on the balance sheets as of June 30, 2022 and December 31, 2021 is reconciled in the following table:

Gross Proceeds	$	172,500,000
Less:
Proceeds allocated to public warrants		(10,130,155	)
Class A common stock issuance costs		(9,719,194	)
Plus:
Accretion of carrying value to redemption value		19,849,349
Class A common stock subject to possible redemption	$	172,500,000

Basic and Diluted Income per Common Share

The Company’s condensed statement of operations includes a presentation of loss per share for common stock subject to redemption in a manner similar to the two-class method of income (loss) per share. Accordingly, basic and diluted loss per common share of Class A common stock and Class B common stock is calculated as follows:

	Three Months Ended June 30, 2022		Three Months Ended June 30, 2021
Net Income per share for Class A common stock:
Allocation of income to Class A common stock	$	1,594,547	$	4,271,697

Weighted average shares outstanding of Class A common stock		17,250,000		17,250,000
Basic and diluted net income per share, Class A common stock	$	0.09	$	0.25

Net Income per share for Class B common stock:
Allocation of income to Class B common stock	$	398,637	$	1,067,924

Basic weighted average shares outstanding of Class B common stock		4,312,500		4,312,500
Basic net income per share, Class B common stock	$	0.09	$	0.25

	Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Net Income per share for Class A common stock:
Allocation of income to Class A common stock	$	6,167,383	$	1,953,112

Weighted average shares outstanding of Class A common stock		17,250,000		12,484,807
Basic and diluted net income per share, Class A common stock	$	0.36	$	0.15

Net Income per share for Class B common stock:
Allocation of income to Class B common stock	$	1,541,846	$	488,278

Basic weighted average shares outstanding of Class B common stock		4,312,500		4,157,113
Basic net income per share, Class B common stock	$	0.36	$	0.15
Diluted weighted average shares outstanding of Class B common stock		4,312,500		4,312,500
Diluted net income per share	$	0.36	$	0.15

SportsTek Acquisition Corp. 10-Q