Registration of securities issued in business combination transactions

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

v3.21.1
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
3 Months Ended
Dec. 31, 2020
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Schedule of company's previously reported operating expenses, cash flows or cash

 

 

 

 

 

 

 

 

 

 

 

    

As

    

 

    

    

 

    

 

 

Previously

 

 

 

 

As

 

 

Reported

 

Adjustments

 

Restated

Balance sheet as of December 4, 2020

 

 

 

 

 

 

 

 

 

Warrant Liability

 

$

 —

 

$

18,190,000

 

$

18,190,000

Common Stock Subject to Possible Redemption

 

 

217,972,620

 

 

(18,190,000)

 

 

199,782,620

Common Stock

 

 

695

 

 

182

 

 

877

Additional Paid-in Capital

 

 

5,000,411

 

 

701,197

 

 

5,701,608

Accumulated Deficit

 

 

(1,096)

 

 

(701,379)

 

 

(702,475)

Balance sheet as of December 31, 2020

 

 

  

 

 

  

 

 

  

Warrant Liability

 

$

 —

 

$

19,780,000

 

$

19,780,000

Common Stock Subject to Possible Redemption

 

 

217,771,437

 

 

(19,780,007)

 

 

197,991,430

Common Stock

 

 

697

 

 

198

 

 

895

Additional Paid-in Capital

 

 

5,201,592

 

 

2,291,188

 

 

7,492,780

Accumulated Deficit

 

 

(202,287)

 

 

(2,291,379)

 

 

(2,493,666)

Stockholders’ Equity

 

 

5,000,002

 

 

 7

 

 

5,000,009

 

 

 

 

 

 

 

 

 

 

 

 

    

As 

    

 

 

    

 

 

 

 

Previously

 

 

 

 

As 

 

 

 Reported

 

Adjustments 

 

Restated

Statement of Operations for the Period from September 23, 2020 (inception) to December 31, 2020

 

 

  

 

 

  

 

 

  

Change in fair value of Warrants

 

$

 —

 

$

(1,590,000)

 

$

(1,590,000)

Transaction costs attributable to Warrants

 

 

 —

 

 

(701,379)

 

 

(701,379)

Net loss

 

 

(202,287)

 

 

(2,291,379)

 

 

(2,493,666)

Weighted average shares outstanding, Common stock subject to possible redemption

 

 

21,797,262

 

 

(1,819,000)

 

 

19,978,262

Basic and diluted net income per share, Common stock subject to possible redemption

 

 

 —

 

 

 —

 

 

 —

Weighted average shares outstanding, Common stock

 

 

6,081,367

 

 

501,153

 

 

6,582,520

Basic and diluted net loss per share, Common stock

 

 

(0.03)

 

 

(0.34)

 

 

(0.37)

Cash Flow Statement for the Period from September 23, 2020 (inception) to December 31, 2020

 

 

  

 

 

  

 

 

  

Net loss

 

$

(202,287)

 

$

(2,291,379)

 

$

(2,493,666)

Change in fair value of Warrants

 

 

 —

 

 

1,590,000

 

 

1,590,000

Transaction costs attributable to Warrants

 

 

 —

 

 

701,379

 

 

701,379

Initial classification of common stock subject to possible redemption

 

 

217,972,620

 

 

(18,190,000)

 

 

199,782,620

Change in value of common stock subject to possible redemption

 

 

(201,183)

 

 

(1,590,007)

 

 

(1,791,190)

 

Statement of Changes in Stockholders’ Equity for the Period from September 23, 2020 (inception) to December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

Additional Paid-in

 

Accumulated   

 

Total Stockholders’

 

 

Shares

 

Amount

 

Capital

 

Deficit

 

Equity

Common stock subject to possible redemption – As Previously Reported

    

(21,780,266)

    

$

(2,178)

    

$

(217,769,259)

    

$

 —

    

$

(217,771,437)

Common stock subject to possible redemption – Adjustments

 

1,978,284

 

 

198

 

 

19,779,809

 

 

 —

 

 

19,780,007

Common stock subject to possible redemption – As Restated

 

(19,801,982)

 

 

(1,980)

 

 

(197,989,450)

 

 

 —

 

 

(197,991,430)

Net loss – As Previously Reported

 

 —

 

 

 —

 

 

 —

 

 

(202,287)

 

 

(202,287)

Net loss – Adjustments

 

 —

 

 

 —

 

 

 —

 

 

(2,291,379)

 

 

(2,291,379)

Net loss – As Restated

 

 —

 

 

 —

 

 

 —

 

 

(2,493,666)

 

 

(2,493,666)

Balance at December 31, 2020 – As

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Previously Reported

 

6,969,734

 

 

697

 

 

5,201,592

 

 

(202,287)

 

 

5,000,002

Balance at December 31, 2020 – Adjustments

 

1,978,284

 

 

198

 

 

2,291,188

 

 

(2,291,379)

 

 

 7

Balance at December 31, 2020 – As Restated

 

8,948,018

 

 

895

 

 

7,492,780

 

 

(2,493,666)

 

 

5,000,009