| Summary of Restatement of Previously Issued Financial Statements |
Impact of the Restatement 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 March 31, 2021 (per form 10-Q filed on June 3, 2021) |
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Class A common stock subject to possible redemption |
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$ |
245,495,100 |
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$ |
54,504,900 |
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$ |
300,000,000 |
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545 |
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(545 |
) |
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— |
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Additional paid in capital |
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18,572,234 |
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(18,572,234 |
) |
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— |
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(13,573,521 |
) |
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(35,932,120 |
) |
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(49,505,641 |
) |
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Statement of Operations for the three months ended March 31, 2021 (per form 10-Q filed on June 3, 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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— |
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30,000,000 |
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Basic and diluted net income (loss) per share, Class A common stock |
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$ |
— |
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$ |
(0.17 |
) |
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$ |
(0.17 |
) |
Basic and diluted weighted average shares outstanding, Class B common stock |
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7,500,000 |
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— |
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7,500,000 |
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Basic and diluted net loss per share, Class B common stock |
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$ |
(0.86 |
) |
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$ |
0.69 |
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$ |
(0.17 |
) |
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Statement of Changes in Stockholders’ Equity for the three months ended March 31, 2021 (per form 10-Q filed on June 3, 2021) |
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Change in value of Class A common stock subject to possible redemption |
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$ |
6,456,290 |
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$ |
(6,456,290 |
) |
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$ |
— |
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Statement of Cash Flows for the three months ended March 31, 2021 (per form 10-Q filed on June 3, 2021) |
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Change in value of Class A common stock subject to possible redemption |
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$ |
(6,456,290 |
) |
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$ |
6,456,290 |
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$ |
— |
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Balance Sheet as of June 30, 2021 (per form 10-Q filed on August 13, 2021) |
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Class A common stock subject to possible redemption |
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$ |
264,563,980 |
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$ |
35,436,020 |
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$ |
300,000,000 |
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354 |
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(354 |
) |
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— |
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Additional paid in capital |
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— |
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— |
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— |
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4,998,900 |
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(35,435,665 |
) |
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(30,436,765 |
) |
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Statement of Operations for the three months ended June 30, 2021 (per form 10-Q filed on August 13, 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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— |
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30,000,000 |
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Basic and diluted net income per share, Class A common stock |
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$ |
— |
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$ |
0.51 |
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$ |
0.51 |
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Basic and diluted weighted average shares outstanding, Class B common stock |
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7,500,000 |
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— |
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7,500,000 |
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Basic and diluted net income per share, Class B common stock |
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$ |
2.54 |
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$ |
(2.03 |
) |
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$ |
0.51 |
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Statement of Operations for the six months ended June 30, 2021 (per form 10-Q filed on August 13, 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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— |
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30,000,000 |
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Basic and diluted net income per share, Class A common stock |
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$ |
— |
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$ |
0.34 |
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$ |
0.34 |
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Basic and diluted weighted average shares outstanding, Class B common stock |
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7,500,000 |
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— |
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7,500,000 |
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Basic and diluted net income per share, Class B common stock |
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$ |
1.68 |
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$ |
(1.34 |
) |
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$ |
0.34 |
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Statement of Changes in Stockholders’ Equity for the three months ended June 30, 2021 (per form 10-Q filed on August 13, 2021) |
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Change in value of Class A common stock subject to possible redemption |
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$ |
(19,068,880 |
) |
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$ |
19,068,880 |
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$ |
— |
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Statement of Cash Flows for the six months ended June 30, 2021 (per form 10-Q filed on August 13, 2021) |
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Change in value of Class A common stock subject to possible redemption |
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$ |
12,612,590 |
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$ |
(12,612,590 |
) |
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$ |
— |
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