| Summary of Restatement of Previously Issued Financial Statements |
The impact of the restatement on the Company’s financial statements is reflected in the following table.
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Balance Sheet as of December 11, 2020 (as restated in footnote 2 per Form 10-K filed on June 1, 2021) |
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Class A common stock subject to possible redemption |
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$ |
255,072,900 |
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$ |
44,927,100 |
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$ |
300,000,000 |
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449 |
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(449 |
) |
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— |
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Additional paid in capital |
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9,019,530 |
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(9,019,530 |
) |
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— |
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(4,020,723 |
) |
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(35,907,121 |
) |
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(39,927,844 |
) |
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Balance Sheet as of December 31, 2020 (per form 10K/A filed on June 1, 2021) |
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Class A common stocks subject to possible redemption |
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$ |
251,951,390 |
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$ |
48,048,610 |
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$ |
300,000,000 |
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481 |
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(481 |
) |
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— |
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Additional paid in capital |
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12,116,008 |
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(12,116,008 |
) |
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— |
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(7,117,234 |
) |
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(35,932,120 |
) |
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(43,049,354 |
) |
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Statement of Operations for the period from August 12, 2020 (inception) through December 31, 2020 (per form 10K filed on June 1, 2021) |
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Basic and diluted weighted average shares outstanding, Class A common stock |
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30,000,000 |
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(25,928,571 |
) |
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4,071,429 |
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Basic and diluted net income (loss) per share, Class A common stock |
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$ |
— |
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$ |
(0.56 |
) |
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$ |
(0.56 |
) |
Basic and diluted weighted average shares outstanding, Class B common stock |
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7,500,000 |
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1,182,402 |
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8,682,402 |
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Basic and diluted net loss per share, Class B common stock |
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$ |
(0.95 |
) |
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$ |
0.39 |
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$ |
(0.56 |
) |
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Statement of Changes in Stockholders’ Equity for the period from August 12, 2020 (inception) through December 31, 2020 (per form 10-K filed on June 1, 2020) |
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Sale of Units in Initial Public Offering net of underwriter discount and offering cost less fair value of warrants |
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$ |
264,043,629 |
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$ |
(264,043,629 |
) |
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$ |
— |
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Change in value of Class A common stock subject to possible redemption |
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$ |
(251,951,390 |
) |
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$ |
251,951,390 |
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$ |
— |
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Accretion of Class A common stock to redemption value |
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$ |
— |
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$ |
(35,956,370 |
) |
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$ |
(35,956,370 |
) |
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Statement of Cash Flows for the period from August 12, 2020 (inception) through December 31, 2020 (per Form 10-K filed on June 1, 2020) |
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Initial value of Class A common stocks subject to possible redemption |
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$ |
255,072,900 |
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$ |
44,927,100 |
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$ |
300,000,000 |
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Change in value of Class A common stocks subject to possible redemption |
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$ |
(3,121,510 |
) |
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$ |
3,121,510 |
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$ |
— |
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