Quarterly report pursuant to Section 13 or 15(d)

Restatement of Previously Issued Financial Statements (Tables)

v3.21.2
Restatement of Previously Issued Financial Statements (Tables)
 9 Months Ended
Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]  
Schedule Of Impact Of The Restatement ON The Financial Statements
The impact of the restatement on the balance sheet, statements of operations and statement of cash flows for unaudited interim financial statements for the quarterly period ended September 30, 2020 is presented below.
 
 
  
As of September 30, 2020
 
 
  
As Previously
Reported
 
  
Restatement
Adjustment
 
  
As Restated
 
BALANCE SHEET
  
      
  
      
  
      
Warrant liability
  
$
—  
 
  
$
59,344,241
 
  
$
59,344,241
 
Total liabilities
  
 
27,002,221
 
  
 
59,344,241
 
  
 
86,346,462
 
Class A common stock subject to possible redemption
  
 
719,471,496
 
  
 
30,528,504
 
  
 
750,000,000
 
Class A common stock - $0.0001 par value
  
 
306
 
  
 
(306
) 
  
 
—  
 
Additional paid-in capital
  
 
5,293,078
 
  
 
(5,293,078
) 
  
 
—  
 
Accumulated deficit
  
 
(295,255
) 
  
 
(84,579,361
) 
  
 
(84,874,616
) 
Total stockholders’ equity
  
 
5,000,003
 
  
 
(89,872,745
) 
  
 
(84,872,742
) 
 
 
  
Three months ended September 30, 2020
 
 
Nine months ended September 30, 2020
 
 
  
As Previously
Reported
 
 
Restatement
Adjustment
 
 
As Restated
 
 
As Previously
Reported
 
 
Restatement
Adjustment
 
 
As Restated
 
STATEMENTS OF OPERATIONS
  
      
 
      
 
      
 
      
 
      
 
      
General and administrative expenses
  
$
(369,735
) 
 
$
(1,075,022
) 
 
$
(1,444,757
) 
 
$
(428,397
) 
 
$
(1,075,021
) 
 
$
(1,503,418
) 
Change in fair value of warrant liability
  
 
—  
 
 
 
(30,806,877
) 
 
 
(30,806,877
) 
 
 
—  
 
 
 
(30,806,877
) 
 
 
(30,806,877
) 
Net loss
  
 
(248,220
) 
 
 
(31,881,899
) 
 
 
(32,130,119
) 
 
 
(294,620
) 
 
 
(31,881,898
) 
 
 
(32,176,518
) 
Basic and diluted net loss per share, Class A
  
$
(0.00
) 
 
$
(0.35
) 
 
$
(0.35
) 
 
$
(0.01
) 
 
$
(0.71
) 
 
$
(0.72
) 
Basic and diluted net loss per share, Class B
  
$
(0.00
) 
 
$
(0.35
) 
 
$
(0.35
) 
 
$
(0.01
) 
 
$
(0.71
) 
 
$
(0.72
) 
 
 
  
Nine months ended September 30, 2020
 
 
  
As Previously
Reported
 
  
Restatement
Adjustment
 
  
As Restated
 
STATEMENT OF CASH FLOWS
  
      
  
      
  
      
Net loss
  
$
(294,620
) 
  
$
(31,881,898
) 
  
$
(32,176,518
) 
Change in fair value of warrant liability
  
 
—  
 
  
 
30,806,877
 
  
 
30,806,877
 
Issuance costs related to warrant liability
  
 
—  
 
  
 
1,075,021
 
  
 
1,075,021