0001104659-21-143276 | S-1 | XBRL Viewer | Embark Technology INC

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Notes Details INITIAL PUBLIC OFFERING (Details) PUBLIC OFFERING (Details) PRIVATE PLACEMENT (Details) Uncategorized Uncategorized Items - ngab-20211119xs1_htm.xml All Reports

Label

Element

Value

Stock-based compensation capitalized into internally developed software

ngab_StockBasedCompensationCapitalizedIntoInternallyDevelopedSoftware

$ 160,000

Stock-based compensation capitalized into internally developed software

ngab_StockBasedCompensationCapitalizedIntoInternallyDevelopedSoftware

102,000

Stock-based compensation capitalized into internally developed software

ngab_StockBasedCompensationCapitalizedIntoInternallyDevelopedSoftware

128,000

Stock-based compensation capitalized into internally developed software

ngab_StockBasedCompensationCapitalizedIntoInternallyDevelopedSoftware

$ 106,000

Held In The Trust Account Description

ngab_HeldInTrustAccountDescription

In order to protect the amounts held in the Trust Account, the Sponsor will agree to be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.00 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of trust assets, in each case net of the interest which may be withdrawn to pay the Company’s tax obligation and up to $100,000 for liquidation excepts, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account (even if such waiver is deemed to be unenforceable) and except as to any claims under the Company’s indemnity of the underwriters of Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).

Held In The Trust Account Description

ngab_HeldInTrustAccountDescription

$10.00 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of trust assets, in each case net of the interest which may be withdrawn to pay the Company’s tax obligation and up to

Number Of Shares Issued Per Unit

ngab_NumberOfSharesIssuedPerUnit

1

Number Of Shares Issued Per Unit

ngab_NumberOfSharesIssuedPerUnit

1

Working Capital Loans

ngab_WorkingCapitalLoans

$ 3,000,000

Working Capital Loans

ngab_WorkingCapitalLoans

1,000,000

Working Capital Loans

ngab_WorkingCapitalLoans

2,000,000

Working Capital Loans

ngab_WorkingCapitalLoans

1,000,000

Working Capital Loans

ngab_WorkingCapitalLoans

1,000,000

Working Capital Loans

ngab_WorkingCapitalLoans

3,000,000

Initial Classification Of Common Stock Subject To Possible Redemption

ngab_InitialClassificationOfCommonStockSubjectToPossibleRedemption

414,000,000

Proceeds From Issuance of Business Combination

ngab_ProceedsFromIssuanceOfBusinessCombination

75,000,000

Vesting of early exercised stock options

ngab_VestingOfEarlyExercisedStockOptions

39,000

Vesting of early exercised stock options

ngab_VestingOfEarlyExercisedStockOptions

45,000

Vesting of early exercised stock options

ngab_VestingOfEarlyExercisedStockOptions

61,000

Vesting of early exercised stock options

ngab_VestingOfEarlyExercisedStockOptions

162,000

Aggregate Maximum Amount

ngab_AggregateMaximumAmount

75,000,000

Aggregate Maximum Amount

ngab_AggregateMaximumAmount

75,000,000

Aggregate Maximum Amount

ngab_AggregateMaximumAmount

150,000,000

Initial Classification Of Warrant Liabilities

ngab_InitialClassificationOfWarrantLiabilities

30,583,467

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

6,700,000

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

2,200,000

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

3,300,000

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

2,200,000

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

70,900,000

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

0

Unrecognized Stock-based Compensation Expense

ngab_UnrecognizedStockBasedCompensationExpense

79,500,000

Net Proceeds Raised From Business Combination

ngab_NetProceedsRaisedFromBusinessCombination

$ 244,000,000

Common Stock Number Of Votes Per Share

ngab_CommonStockNumberOfVotesPerShare

1

Common Stock Number Of Votes Per Share

ngab_CommonStockNumberOfVotesPerShare

10

Common Stock Number Of Votes Per Share

ngab_CommonStockNumberOfVotesPerShare

1

Change In Fair Value Of Fpa liability

ngab_ChangeInFairValueOfFpaLiability

$ (393,333)

Change In Fair Value Of Fpa liability

ngab_ChangeInFairValueOfFpaLiability

(253,333)

Redemption Of Northern Genesis’s Class A common stock

ngab_RedemptionOfNorthernGenesissClassCommonStock

69,000,000

Maximum Commitment From Investors in the Form of Preferred Stock, if the Merger Agreement Terminated

ngab_MaximumCommitmentFromInvestorsInFormOfPreferredStockIfMergerAgreementTerminated

5,000,000

Maximum Commitment From Investors in the Form of Preferred Stock, if the Merger Agreement Terminated

ngab_MaximumCommitmentFromInvestorsInFormOfPreferredStockIfMergerAgreementTerminated

5,000,000

Proceeds From Cash Contribution

ngab_ProceedsFromCashContribution

414,000,000

Proceeds From Cash Contribution

ngab_ProceedsFromCashContribution

$ 160,000,000

Sale Of Warrants

ngab_SaleOfWarrants

6,686,667

Sale Of Warrants

ngab_SaleOfWarrants

6,686,667

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

$ 95,000

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

95,000

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

90,000

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

90,000

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

149,000

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

149,000

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

63,000

^[1]

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

63,000

^[1]

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

121,000

^[1]

Stock Issued During Period, Value, Stock Options Exercised 1

ngab_StockIssuedDuringPeriodValueStockOptionsExercised1

121,000

^[1]

Loss On Initial Issuance Of Private Warrants

ngab_LossOnInitialIssuanceOfPrivateWarrants

$ 267,467

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 1

ngab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod1

195,917

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 1

ngab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod1

452,459

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 1

ngab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod1

556,535

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 1

ngab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod1

1,725,256

^[1]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 1

ngab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod1

340,171

^[1]

Accrued Offering Costs

ngab_AccruedOfferingCosts

$ 107,000

Net Interest To Dissolution Expenses

ngab_NetInterestToDissolutionExpenses

100,000

Net Interest To Dissolution Expenses

ngab_NetInterestToDissolutionExpenses

100,000

Transaction Cost

ngab_TransactionCost

23,221,415

Transaction Cost

ngab_TransactionCost

23,221,415

Initial Measurement

ngab_InitialMeasurement

10,297,467

Initial Measurement

ngab_InitialMeasurement

20,286,000

Initial Measurement

ngab_InitialMeasurement

30,583,467

Offering Costs Allocated To Warrant And FPA liabilities

ngab_OfferingCostsAllocatedToWarrantAndFpaliabilities

1,148,289

Prepaid Accrued Interest And Dividends

ngab_PrepaidAccruedInterestAndDividends

26,000

Prepaid Accrued Interest And Dividends

ngab_PrepaidAccruedInterestAndDividends

201,000

Prepaid Accrued Interest And Dividends

ngab_PrepaidAccruedInterestAndDividends

$ 328,000

Purchase Of Aggregate Shares

ngab_PurchaseOfAggregateShares

20,486,667

Office Rent Per Month

ngab_OfficeRentPerMonth

$ 10,000

Office Rent Per Month

ngab_OfficeRentPerMonth

10,000

Preferred Stock Issuance Cost

ngab_PreferredStockIssuanceCost

100,000

Preferred Stock Issuance Cost

ngab_PreferredStockIssuanceCost

100,000

Preferred Stock Issuance Cost

ngab_PreferredStockIssuanceCost

100,000

Preferred Stock Issuance Cost

ngab_PreferredStockIssuanceCost

$ 4,600,000

Forward Purchase Agreement Description

ngab_ForwardPurchaseAgreementDescription

(i) a number of units (“Forward Purchase Units”), consisting of one share of Class A common stock (“Forward Purchase Shares”) and one-sixth of one redeemable warrant (“Forward Purchase Warrants”), for $10.00 per unit or (ii) a number of Forward Purchase Shares for $9.75 per share (such Forward Purchase Shares valued at $9.75 per share or the Forward Purchase Units, as the case may be, the “Forward Purchase Securities”), in a private placement that would close simultaneously with the closing of the Initial Business Combination.

Forward Purchase Agreement Description

ngab_ForwardPurchaseAgreementDescription

the Company entered into the forward purchase agreement (the “Forward Purchase Agreement”) with Northern Genesis Capital LLC (the “forward purchase investor”), pursuant to which, if the Company determines to raise capital by issuing equity securities in connection with the closing of its initial business combination, the forward purchase investor, an entity which is affiliated with the Company’s Sponsor, agreed and has the first right to purchase, subject to certain conditions, in an aggregate maximum amount of $75,000,000 of either (i) a number of units (the “forward purchase units”), consisting of one share of Class A common stock (the “forward purchase shares”) and one-sixth of one redeemable warrant (the “forward purchase warrants”), for $10.00 per unit or (ii) a number of forward purchase shares for $9.75 per share (such forward purchase shares valued at $9.75 per share or the forward purchase units, as the case may be, the “forward purchase securities”), in a private placement that would close simultaneously with the closing of the Initial Business Combination.

Payment To Services

ngab_PaymentToServices

$ 30,000

Payment To Services

ngab_PaymentToServices

90,000

Accrued Expenses and Other Liabilities, Current

ngab_AccruedExpensesAndOtherLiabilitiesCurrent

6,414,000

Accrued Expenses and Other Liabilities, Current

ngab_AccruedExpensesAndOtherLiabilitiesCurrent

892,000

Accrued Expenses and Other Liabilities, Current

ngab_AccruedExpensesAndOtherLiabilitiesCurrent

436,000

Short Term Investments Fair Value Disclosure

ngab_ShortTermInvestmentsFairValueDisclosure

5,005,000

Short Term Investments Fair Value Disclosure

ngab_ShortTermInvestmentsFairValueDisclosure

5,005,000

Short Term Investments Fair Value Disclosure

ngab_ShortTermInvestmentsFairValueDisclosure

68,322,000

Short Term Investments Fair Value Disclosure

ngab_ShortTermInvestmentsFairValueDisclosure

68,322,000

Amount Held Outside Trust Account

ngab_AmountHeldOutsideTrustAccount

1,080,000

Amount Held Outside Trust Account

ngab_AmountHeldOutsideTrustAccount

$ 1,080,000

Stock Issued During Period, Shares, Secondary Issues

ngab_StockIssuedDuringPeriodSharesSecondaryIssues

962,298

Stock Issued During Period, Shares, Secondary Issues

ngab_StockIssuedDuringPeriodSharesSecondaryIssues

(962,298)

Shares Authorized

ngab_SharesAuthorized

238,480,441

Shares Authorized

ngab_SharesAuthorized

238,480,441

Acquisition of property, equipment and software in accounts payable

ngab_AcquisitionOfPropertyEquipmentAndSoftwareInAccountsPayable

$ 71,000

Acquisition of property, equipment and software in accounts payable

ngab_AcquisitionOfPropertyEquipmentAndSoftwareInAccountsPayable

47,000

Acquisition of property, equipment and software in accounts payable

ngab_AcquisitionOfPropertyEquipmentAndSoftwareInAccountsPayable

64,000

Acquisition of property, equipment and software in accounts payable

ngab_AcquisitionOfPropertyEquipmentAndSoftwareInAccountsPayable

$ 118,000

Increase Of Preferred Stock Shares Outstanding

ngab_IncreaseOfPreferredStockSharesOutstanding

1,124,856

Marketable Securities Fair Value Disclosure

ngab_MarketableSecuritiesFairValueDisclosure

$ 53,553,000

Marketable Securities Fair Value Disclosure

ngab_MarketableSecuritiesFairValueDisclosure

53,553,000

Marketable Securities Fair Value Disclosure

ngab_MarketableSecuritiesFairValueDisclosure

7,311,000

Marketable Securities Fair Value Disclosure

ngab_MarketableSecuritiesFairValueDisclosure

7,311,000

Acquisition of trucks by assuming notes payable

ngab_AcquisitionOfTrucksByAssumingNotesPayable

278,000

Acquisition of trucks by assuming notes payable

ngab_AcquisitionOfTrucksByAssumingNotesPayable

922,000

Reclassification of truck deposits to property and equipment

ngab_ReclassificationOfTruckDepositsToPropertyAndEquipment

300,000

Offering Costs Allocable To Warrant Liabilities

ngab_OfferingCostsAllocableToWarrantLiabilities

1,148,289

Deferred offering costs in accrued liability

ngab_DeferredOfferingCostsInAccruedLiability

3,275,000

Stock Issued, Issuance Costs

ngab_StockIssuedIssuanceCosts

78,000

Accretion For Common Stock Subject To Redemption Amount

ngab_AccretionForCommonStockSubjectToRedemptionAmount

(23,965)

Accretion For Common Stock Subject To Redemption Amount

ngab_AccretionForCommonStockSubjectToRedemptionAmount

(42,335,161)

Accretion For Common Stock Subject To Redemption Amount

ngab_AccretionForCommonStockSubjectToRedemptionAmount

(42,359,126)

GrossProceedsFromInitialPublicOffering

ngab_GrossProceedsFromInitialPublicOffering

$ 414,000,000

CommonStocksSharesOutstanding

ngab_CommonStocksSharesOutstanding

10,350,000

Weighted average remaining service period

ngab_WeightedAverageRemainingServicePeriodOfUnvestedWarrants

3 years 3 months 25 days

Prepaid Software

ngab_PrepaidSoftware

$ 876,000

Prepaid Software

ngab_PrepaidSoftware

279,000

Prepaid Software

ngab_PrepaidSoftware

33,000

Working Capital Loans Outstanding

ngab_WorkingCapitalLoansOutstanding

750,000

ngab_GrossProceeds

414,000,000

Deferred Transaction Costs

ngab_DeferredTransactionCosts

4,102,000

Deferred Transaction Costs

ngab_DeferredTransactionCosts

$ 0

Number Of Warrants Issued Per Unit

ngab_NumberOfWarrantsIssuedPerUnit

0.167

Number Of Warrants Issued Per Unit

ngab_NumberOfWarrantsIssuedPerUnit

0.167

Sponsor Support Agreement and Foundation Investor Support Agreement

ngab_SponsorSupportAgreementAndFoundationInvestorSupportAgreement

Sponsor also agreed to forfeit, immediately prior to Closing, (i) a relative percentage of up to 1,130,239 Founder Shares to the extent that the Sponsor's institutional investors fail to hold, at the Closing, at least one-half of the shares of NGA Common Stock issued to such investors in connection with our initial public offering, and (ii) up to 627,910 Founder Shares (currently expected to be 393,025 Founder Shares) in connection with the Forward Purchase Agreements investment.

Class A Common Stock Issuance Costs

ngab_ClassCommonStockIssuanceCosts

$ (22,073,126)

Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Trading Days Before Sending Notice Of Redemption Of Warrants

ngab_ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdTradingDaysBeforeSendingNoticeOfRedemptionOfWarrants

3 days

ngab_FpaLiability

$ 713,334

Prepaid Hardware

ngab_PrepaidHardware

$ 53,000

Ordinary Shares Subject To Possible Redemption

ngab_OrdinarySharesSubjectToPossibleRedemption

41,400,000

Ordinary Shares Subject To Possible Redemption

ngab_OrdinarySharesSubjectToPossibleRedemption

0

Borrowing Outstanding

ngab_BorrowingsOutstanding

$ 117,917

Net Income (Loss) Available to Common Stockholders, Basic and Diluted

ngab_NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted

(47,825,000)

Net Income (Loss) Available to Common Stockholders, Basic and Diluted

ngab_NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted

(14,988,000)

Net Income (Loss) Available to Common Stockholders, Basic and Diluted

ngab_NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted

(21,531,000)

Net Income (Loss) Available to Common Stockholders, Basic and Diluted

ngab_NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted

(15,310,000)

Deferred Underwriting Fee Payable

ngab_DeferredUnderwritingFeePayable

14,490,000

Net Tangible Assets

ngab_NetTangibleAssets

5,000,001

Net Tangible Assets

ngab_NetTangibleAssets

5,000,001

Maximum Amount Of Volume Weighted Average Price

ngab_MaximumAmountOfVolumeWeightedAveragePrice

8,500,000,000

Maximum Amount Of Volume Weighted Average Price

ngab_MaximumAmountOfVolumeWeightedAveragePrice

14,900,000,000

Maximum Amount Of Volume Weighted Average Price

ngab_MaximumAmountOfVolumeWeightedAveragePrice

21,300,000,000

Maximum Amount Of Volume Weighted Average Price

ngab_MaximumAmountOfVolumeWeightedAveragePrice

27,600,000,000

Maximum Amount Of Volume Weighted Average Price

ngab_MaximumAmountOfVolumeWeightedAveragePrice

34,000,000,000.0

Maximum Amount Of Volume Weighted Average Price

ngab_MaximumAmountOfVolumeWeightedAveragePrice

42,500,000,000

DeferredOfferingCostsIncludedInAccruedOfferingCosts

ngab_DeferredOfferingCostsIncludedInAccruedOfferingCosts

$ 107,000

Preferred Stock Issued and Outstanding

ngab_PreferredStockIssuedAndOutstanding

At September 30, 2021 and December 31, 2020, there were no shares of preferred stock issued or outstanding.

DeferredOfferingCostsPaidBySponsorInExchangeForTheIssuanceOfCommonStock

ngab_DeferredOfferingCostsPaidBySponsorInExchangeForTheIssuanceOfCommonStock

$ 25,000

Short Term Deferred Rent Adjustment

ngab_ShortTermDeferredRentAdjustment

(17,000)

Short Term Deferred Rent Adjustment

ngab_ShortTermDeferredRentAdjustment

51,000

Short Term Deferred Rent Adjustment

ngab_ShortTermDeferredRentAdjustment

121,000

Proceeds From Refund Of Deposit Fro Trucks

ngab_ProceedsFromRefundOfDepositFroTrucks

47,000

Proceeds From Refund Of Deposit Fro Trucks

ngab_ProceedsFromRefundOfDepositFroTrucks

778,000

Accrued Credit Cart Liability

ngab_AccruedCreditCartLiability

276,000

Accrued Credit Cart Liability

ngab_AccruedCreditCartLiability

$ 157,000

Change In Value Of Common Stock Subject To Redemption Shares

ngab_ChangeInValueOfCommonStockSubjectToRedemptionShares

41,400,000

Change In Value Of Common Stock Subject To Redemption Shares

ngab_ChangeInValueOfCommonStockSubjectToRedemptionShares

0

HeldInTheTrustAccountDescription

ngab_HeldInTheTrustAccountDescription

In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.00 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of trust assets, in each case net of the interest which may be withdrawn to pay the Company's tax obligations and up to $100,000 for liquidation excepts, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account (even if such waiver is deemed to be unenforceable) and except as to any claims under the Company's indemnity of the underwriters of Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the "Securities Act").

Payment of Deposit For Purchase of Trucks

ngab_PaymentOfDepositForPurchaseOfTrucks

$ 400,000

Payment of Deposit For Purchase of Trucks

ngab_PaymentOfDepositForPurchaseOfTrucks

10,000

Payment of Deposit For Purchase of Trucks

ngab_PaymentOfDepositForPurchaseOfTrucks

325,000

Early Exercise Liability

ngab_EarlyExerciseLiability

47,000

Early Exercise Liability

ngab_EarlyExerciseLiability

47,000

Early Exercise Liability

ngab_EarlyExerciseLiability

$ 47,000

Warrants And Rights Outstanding Exercisable Term After Business Combination

ngab_WarrantsAndRightsOutstandingExercisableTermAfterBusinessCombination

30 days

Projected Obligations Expects To Pay

ngab_ProjectedObligationsExpectsToPay

$ 2,000,000

Reduction Of Face Amount Of Letter Of Credit

ngab_ReductionOfFaceAmountOfLetterOfCredit

$ 100,000

Threshold Trading Days For Calculating Market Value

ngab_ThresholdTradingDaysForCalculatingMarketValue

10 days

ngab_OfferingCosts

$ 23,221,415

Accrued General Expenses

ngab_AccruedGeneralExpenses

116,000

Accrued General Expenses

ngab_AccruedGeneralExpenses

367,000

Accrued General Expenses

ngab_AccruedGeneralExpenses

$ 150,000

Class Of Warrant Or Right Minimum Threshold Written Notice Period For Redemption Of Warrants

ngab_ClassOfWarrantOrRightMinimumThresholdWrittenNoticePeriodForRedemptionOfWarrants

30 days

Deposits Non-Current

ngab_DepositsNonCurrent

$ 3,304,000

Deposits Non-Current

ngab_DepositsNonCurrent

75,000

Deposits Non-Current

ngab_DepositsNonCurrent

$ 75,000

Warrants And Rights Outstanding Exercisable Term From Closing Of Public Offering

ngab_WarrantsAndRightsOutstandingExercisableTermFromClosingOfPublicOffering

12 months

Personnel Services Agreement Description

ngab_PersonnelServicesAgreementDescription

For the nine months ended September 30, 2021, the Company incurred $680,000, inclusive of $200,000 in initial payment of the agreement and $80,000 for each month within the second and third quarter for these services, of which $80,000 is included in accounts payable in the accompanying balance sheets.

Working Capital Warrants

ngab_WorkingCapitalWarrants

$ 2,000,000

Accrued Legal Expenses

ngab_AccruedLegalExpenses

$ 2,700,000

Warrant Expire Term

ngab_WarrantExpireTerm

5 years

Long-Term Debt, Maturity, Year Four and Thereafter

ngab_LongTermDebtMaturityYearFourAndThereafter

$ 64,000

Derivative Liability on the Date of Issuance of Convertible Note

ngab_DerivativeLiabilityOnDateOfIssuanceOfConvertibleNote

$ 8,163,000

Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Trading Days

ngab_ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdTradingDays

20 days

UnderwritersDiscount

ngab_UnderwritersDiscount

$ 249,917

Initial Classification Of FPA Liability

ngab_InitialClassificationOfFpaLiability

(966,667)

Initial Classification Of FPA Liability

ngab_InitialClassificationOfFpaLiability

(966,667)

Minimum Proceeds From Issuance Of Equity Required For Conversion Of Notes

ngab_MinimumProceedsFromIssuanceOfEquityRequiredForConversionOfNotes

10,000,000.0

Proceeds from Issuance Of Preferred Stock, Net Of Issuance Cost

ngab_ProceedsFromIssuanceOfPreferredStockNetOfIssuanceCost

78,000

Deferred Tax Assets Charges To Expenses

ngab_DeferredTaxAssetsChargesToExpenses

(6,147,000)

Deferred Tax Assets Charges To Expenses

ngab_DeferredTaxAssetsChargesToExpenses

(4,182,000)

Accrued Consultant Expenses

ngab_AccruedConsultantExpenses

$ 593,000

Number of Market Tranches Upon Meeting the Conditions for Vesting

ngab_NumberOfMarketTranchesUponMeetingConditionsForVesting

6

Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Consecutive Trading Days

ngab_ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdConsecutiveTradingDays

30 days

Deferred Offering Cost

ngab_DeferredOfferingCost

$ 827,000

Forward Purchase Units

ngab_ForwardPurchaseUnits

7,500,000

Fair value of Warrants Granted

ngab_FairValueOfWarrantsGranted

6,300,000

Redemption Period Upon Closure

ngab_RedemptionPeriodUponClosure

10 days

Accrued Software Expenses

ngab_AccruedSoftwareExpenses

$ 1,505,000

[1]	Insignificant amounts are rounded to zero (“— ”) for disclosure