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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations |
Schedule of reconcile business combination of financial position |
|  | Recapitalization
Cash - FEAC trust and cash, net of redemptions |  | $ | 689,979
Cash - Private Placement Financing |  |  | 158,531
Non-cash net assets assumed from FEAC |  |  | —
Less: cash consideration paid to Old Skillz stockholders |  |  | (566,204)
Less: transaction costs and advisory fees |  |  | (35,822)
Net Business Combination and Private Placement Financing |  |  | 246,484
Less: non-cash net assets assumed from FEAC |  |  | —
Less: accrued transaction costs and advisor fees |  |  | (16,058)
Net cash contributions from Business Combination and PIPE Financing |  | $ | 230,426
Schedule of business combination common stock issued |
|  | Recapitalization
Common stock, outstanding prior to Business Combination |  | 69,000,000
Less: redemption of FEAC shares |  | (2,140)
Common stock of FEAC |  | 68,997,860
FEAC sponsor shares |  | 6,350,200
Earnout shares |  | 10,000,000
Shares issued in Private Placement Financing |  | 15,853,052
Business Combination and Private Placement Financing shares - Class A common stock |  | 101,201,112
Old Skillz shares converted to New Skillz Class A common stock(1) |  | 191,932,861
Old Skillz shares converted to New Skillz Class B common stock(2) |  | 76,663,551
Total shares of common stock immediately after Business Combination |  | 369,797,524
(1)The number of Old Skillz shares converted to Class A common stock was determined from 332,690,933 shares of Old Skillz Class B common stock outstanding immediately prior to the closing of the Business Combination, including shares of redeemable convertible preferred stock, converted at the Exchange Ratio, less 56,620,419 shares of New Skillz stock which were repurchased from Old Skillz stockholders as part of the Business Combination. All fractional shares were rounded down. (2)The number of Old Skillz shares converted to Class B common stock was determined from the 102,614,847 shares of Old Skillz Class A common stock outstanding immediately prior to the closing of the Business Combination, including shares of convertible preferred stock, converted at the Exchange Ratio. All fractional shares were rounded down.

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