Annual report pursuant to Section 13 and 15(d)

TRANSACTION (Tables)

v3.22.4
TRANSACTION (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Reverse Recapitalization
Upon the consummation of the Transaction all outstanding shares of Innovid Inc. common stock, Innovid Inc. redeemable convertible preferred stock, Innovid Inc. warrants, and Secondary Sale Transaction of 6,885,486 shares to PIPE investors, were exchanged for 93,787,278 shares of common stock in Innovid Corp.
Number of shares
Legacy Innovid common stock of January 1, 2021 16,275,609 
Warrant exercised 132,392 
Stock option exercised 3,180,943 
Conversion of redeemable convertible preferred stock into common stock 73,690,340 
Conversion of Legacy Innovid Warrants 507,994 
Exchanged into Innovid Corp. common stock on November 30, 2021 93,787,278 
The following table reconciles the elements of the Transaction to the Consolidated statement of cash flows and the Consolidated Statement of Changes in Temporary Equity and Stockholders’ Equity for the year ended December 31, 2021.
Total value
Cash - ION trust account and cash, net of redemptions
 $ 55,466 
Cash - PIPE Investment, net of Secondary Sale Amount of $68,855
 131,145 
Less: Transaction costs paid
 (31,160)
Less: Deferred underwriting fee paid (6,199)
Proceeds from reverse recapitalization, net
149,252 
Less: Accrued transaction costs not yet paid*
 (3,185)
Less: Company Warrant assumed as part of the Transaction
 (22,791)
Plus: Transaction costs allocated to Company Warrant 2,750 
Reverse recapitalization, net
 $ 126,026 
* These amounts were paid in 2022.