Anthemis Digital Acquisitions I Corp - Class A

Announcement: ADAL 8-K Special Filing

Part 1: Analysis of the Performance of Anthemis Digital Acquisitions I Corp

Anthemis Digital Acquisitions I Corp is a blank check company that was formed in February 2021 for the purpose of effecting a merger or similar business combination with one or more entities. The company raised $245.7 million in gross proceeds from its initial public offering and a private placement, of which $234.6 million was placed in a trust account invested in U.S. government securities until the completion of a business combination.

Since its inception, Anthemis Digital Acquisitions I Corp has neither engaged in any operations nor generated any revenue. The company has incurred expenses related to its formation, preparation for the initial public offering, and due diligence expenses. For the period from February 26, 2021 (inception) through December 31, 2021, the company had net income of $483,619, which consisted of a gain on settlement of payable and interest income earned on the trust account of $3,195, offset by formation and operating costs of $212,805. The company had net income of $2,482,266 for the year ended December 31, 2022, which consisted of interest income on the trust account of $3,438,615, offset by formation and operating costs of $956,349.

As of December 31, 2022, the company had working capital of approximately $0.6 million, which it intends to use to cover its ongoing expenses until it completes a business combination. However, the company's current working capital position, along with its mandatory liquidation in less than three months, raises substantial doubt about its ability to continue as a going concern for at least one year from the date of the financial statements. Anthemis Digital Acquisitions I Corp will need to raise additional capital through loans or investments from its sponsor, stockholders, officers, directors, or third parties to meet its working capital needs.

Part 2: Forward-Looking Analysis of Anthemis Digital Acquisitions I Corp

Anthemis Digital Acquisitions I Corp has not identified any specific business combination target yet. The company's management is currently searching for prospective initial business combinations. The company's investment strategy is to focus on businesses in the fintech, proptech, insurance, and healthcare sectors. However, management may also consider businesses operating in other sectors.

Anthemis Digital Acquisitions I Corp faces competition from other blank check companies that are also searching for prospective businesses for their initial business combinations. Additionally, the company operates in highly competitive and rapidly evolving sectors, where existing businesses and new entrants are continually introducing new technologies and services.

The company's CEO and management have not provided any specific guidance or outlook for the company's future performance, given its current uncertain position. However, management is actively pursuing a business combination that it believes will generate shareholder value in the long run. It is essential to note that investors should be aware of the risks associated with investing in blank check companies, as they face market volatility, uncertainties in finding suitable target businesses, and potential regulatory and compliance risks.

In conclusion, Anthemis Digital Acquisitions I Corp's performance so far has been in line with its investment strategy as a blank check company. However, uncertainties surrounding the company's ability to raise additional capital and find a suitable target business before its mandatory liquidation in less than three months highlight the risks associated with investing in such companies. Investors should carefully consider these and other risks before making investment decisions in Anthemis Digital Acquisitions I Corp.

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE

Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]

Anthemis Digital Acquisitions I Corp: A Forward-Looking Analysis

Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]

Announcement: ADAL SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Announcement: ADAL 8-K Special Filing

Announcement: ADAL 8-K Special Filing

Anthemis Digital Acquisitions I Corp: A Forward-Looking Analysis

Anthemis Digital Acquisitions I Corp: A Forward-Looking Analysis

Announcement: ADAL SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment

Announcement: ADAL SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment

Announcement: ADAL SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment

Announcement: ADAL SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment

Announcement: ADAL 10-Q Quarterly Report

Announcement: ADAL 10-Q Quarterly Report

Announcement: ADAL 10-Q Quarterly Report

Announcement: ADAL 10-Q Quarterly Report