NOTE
1 DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Altimar Acquisition Corporation (the Company or
Altimar) is a blank check company incorporated as a Cayman Islands exempted company on August 20, 2020. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses or entities (a Business Combination).
The Company
is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and
emerging growth companies.
As of March 31, 2021, the Company had not commenced any operations. All activity for the period from
August 20, 2020 (inception) through March 31, 2021 relates to the Companys formation and the initial public offering (Initial Public Offering), which is described below, identifying a target company for a Business
Combination, and activities in connection with the proposed business combination with Owl Rock Capital Group LLC, a Delaware limited liability company (Owl Rock) and the Dyal Capital Partners (Dyal) division of Neuberger
Berman Group LLC (see Note 6). The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the
form of interest income from the proceeds derived from the Initial Public Offering.
The registration statement for the Companys
Initial Public Offering was declared effective on October 22, 2020. On October 27, 2020, the Company consummated the Initial Public Offering of 25,000,000 units (the Units and, with respect to the Class A ordinary shares
included in the Units sold, the Public Shares), at $10.00 per Unit, generating gross proceeds of $250,000,000, which is described in Note 5.
Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 4,666,667 warrants (the Private
Placement Warrants) at a price of $1.50 per Private Placement Warrant in a private placement to Altimar Sponsor LLC (the Sponsor), generating gross proceeds of $7,000,000, which is described in Note 4.
Following the closing of the Initial Public Offering on October 27, 2020, an amount of $250,000,000 ($10.00 per Unit) from the net
proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the Trust Account), and invested in U.S. government securities, within the meaning set forth
in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the Investment Company Act), with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund
investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earliest of: (i) the completion of a Business
Combination and (ii) the distribution of the funds in the Trust Account to the Companys shareholders, as described below.
On
November 9, 2020, the underwriters elected to partially exercise their over-allotment option for which the Company consummated the sale of an additional 2,500,000 Units, at $10.00 per Unit, and the sale of an additional 333,333 Private
Placement Warrants, at $1.50 per Private Placement Warrant, generating total gross proceeds of $25,500,000. A total of $25,000,000 of the net proceeds was deposited into the Trust Account, bringing the aggregate proceeds held in the Trust Account to
$275,000,000.
Total transaction costs amounted to $15,714,288, consisting of $5,500,000 of underwriting fees, $9,625,000 of deferred
underwriting fees and $589,288 of other offering costs.
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