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)
4 Months Ended
Dec. 31, 2020
Restatement Of Previously Issued Financial Statements [Abstract]  
Summary of restatements of certain amounts in the financial statements
The Company’s accounting for the warrants as components of equity instead of as derivative liabilities did not have any effect on the Company’s previously reported operating expenses, cash flows or cash.
 
 
 
  
As Previously
Reported
 
  
Adjustments
 
  
As Restated
 
Balance sheet as of October 27, 2020 (audited)
  
     
  
     
  
     
Warrant Liability
  
$
—  
 
  
$
29,954,941
 
  
$
29,954,941
 
Ordinary Shares Subject to Possible Redemption
  
 
237,680,710
 
  
 
(29,954,941
  
 
207,725,769
 
Class A Ordinary Shares
  
 
123
 
  
 
300
 
  
 
423
 
Additional Paid-in Capital
  
 
5,004,160
 
  
 
(300
  
 
5,003,860
 
       
Balance sheet as of December 31, 2020 (audited)
  
     
  
     
  
     
Warrant Liability
  
$
—  
 
  
$
34,974,813
 
  
$
34,974,813
 
Ordinary Shares Subject to Possible Redemption
  
 
261,549,080
 
  
 
(34,974,813
  
 
226,574,260
 
Class A Ordinary Shares
  
 
135
 
  
 
349
 
  
 
484
 
Additional Paid-in Capital
  
 
5,260,809
 
  
 
5,019,530
 
  
 
10,280,339
 
Accumulated Deficit
  
 
(261,631
  
 
(5,019,872
  
 
(5,281,503
)
Shareholders’ Equity
  
 
5,000,001
 
  
 
7
 
  
 
5,000,008
 
       
Period from August 20, 2020 (inception) to December 31, 2020 (audited)
  
     
  
     
  
     
Change in fair value of warrant liability
  
$
—  
 
  
$
(5,019,872
  
$
(5,019,872
)
Net loss
  
 
(261,631
  
 
(5,019,872
  
 
(5,281,503
Basic and diluted net loss per share, Class B
  
 
(0.05
  
 
(0.77
  
 
(0.82