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Cover - shares | 6 Months Ended | |
---|---|---|
Jun. 30, 2022 | Aug. 11, 2022 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-41119 | |
Entity Registrant Name | ST Energy Transition I Ltd. | |
Entity Central Index Key | 0001858684 | |
Entity Tax Identification Number | 00-0000000 | |
Entity Incorporation, State or Country Code | D0 | |
Entity Address, Address Line One | Par-la-Ville Place | |
Entity Address, Address Line Two | 4th Floor | |
Entity Address, Address Line Three | 14 Par-la-Ville Road | |
Entity Address, City or Town | Hamilton | |
Entity Address, Country | BM | |
Entity Address, Postal Zip Code | HM08 | |
City Area Code | (441) | |
Local Phone Number | 295-6935 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | true | |
SAIL | ||
Title of 12(b) Security | SAILSM securities, each consisting of one Class A Share, of $0.0001 par value per share, and one-half of one redeemable warrant | |
Trading Symbol | STET.U | |
Security Exchange Name | NYSE | |
Class A Shares, $0.0001 par value per share, included as part of the SAIL | ||
Title of 12(b) Security | Class A Shares, $0.0001 par value per share, included as part of the SAILSM securities | |
Trading Symbol | STET | |
Security Exchange Name | NYSE | |
Redeemable warrants, each whole warrant exercisable for one Class A Share at an exercise price of $11.50, included as part of the SAIL | ||
Title of 12(b) Security | Redeemable warrants, each whole warrant exercisable for one Class A Share at an exercise price of $11.50, included as part of the SAILSM securities | |
Trading Symbol | STETWS | |
Security Exchange Name | NYSE | |
Common Class A [Member] | ||
Entity Common Stock, Shares Outstanding | 28,750,000 | |
Common Class B [Member] | ||
Entity Common Stock, Shares Outstanding | 1,437,500 |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by St Energy Transition I Ltd..
St Energy Transition I Ltd.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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During the quarterly period ended June 30, 2022, the Company has sustained negative cash flows from operations and expects to continue to incur negative cash flows from operations for at least the next twelve months from the filing of this report.
To the extent that our shares or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the post-Business Combination entity, to make other acquisitions and pursue our growth strategies.
22 Registration Rights Agreement The holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon conversion of the loans made to the Company by the Sponsor (and in each case holders of their component securities, as applicable) are entitled to registration rights pursuant to a registration rights agreement signed on the effective date of the Initial Public Offering, requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to our Class A Shares).
We have identified the following critical accounting estimates affecting our financial statements: Derivative Financial Instruments The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant's specific terms and applicable authoritative guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 480, "Distinguishing Liabilities from Equity" ("ASC 480"), and ASC 815, "Derivatives and Hedging" ("ASC 815").
ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with early adoption permitted.
This note is non-interest bearing...Read more
This note is non-interest bearing...Read more
In August 2020, FASB issued...Read more
Changes in the estimated fair...Read more
As of June 30, 2022...Read more
For the three months ended...Read more
For the six months ended...Read more
Subsequent to the consummation of...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
St Energy Transition I Ltd. provided additional information to their SEC Filing as exhibits
Ticker: STET
CIK: 1858684
Form Type: 10-Q Quarterly Report
Accession Number: 0001829126-22-015738
Submitted to the SEC: Fri Aug 12 2022 5:11:52 PM EST
Accepted by the SEC: Fri Aug 12 2022
Period: Thursday, June 30, 2022
Industry: Blank Checks