Triterras, Inc. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Significant accounting policies (Policies)
Notes Tables
Notes Details

Reverse merger

Reverse merger

12 Months Ended

Feb. 28, 2021

28	Reverse merger

In the consolidation financial statements, the acquisition costs arising from the reverse merger was determined by the aggregate of US$60,000,000 (as below) in cash and using the fair value of the issued equity of the Company amounting to US$525,000,000, being 51,622,419 shares at US$10.17 per share, which represents the market value of the Company at the date of the completion of the reverse merger.

The net assets acquired from the reverse merger were as follows:

	US$
Cash and cash equivalents		170,616,649
Other receivables		60,068,819
Other payables		(1,587,820	)
Warrant liabilities		(69,923,483	)
Less:
Cash consideration paid (as above)		(60,000,000	)
Others		(17,514	)
As per consolidated statement of cash flows		99,156,651