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
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Schedule of impact of the restatement on the Company's financial statements

    

As Previously

    

    

Balance Sheet as of August 18, 2020 (audited)

Reported

Adjustment

As Restated

Class A common stock subject to possible redemption

$

176,443,060

$

23,556,940

$

200,000,000

Class A common stock

$

301

$

(236)

$

65

Additional paid-in capital

$

5,837,483

$

(5,837,483)

$

Accumulated deficit

$

(838,356)

$

(17,719,221)

$

(18,557,577)

Total Stockholders' Equity (Deficit)

$

5,000,003

$

(23,556,940)

$

(18,556,937)

Balance Sheet as of September 30, 2020 (unaudited)

Class A common stock subject to possible redemption

$

205,177,310

$

24,822,690

$

230,000,000

Class A common stock

$

313

$

(248)

$

65

Additional paid-in capital

$

5,453,221

$

(5,453,221)

$

Accumulated deficit

$

(454,099)

$

(19,369,221)

$

(19,823,320)

Total Stockholders' Equity (Deficit)

$

5,000,010

$

(24,822,690)

$

(19,822,680)

Balance Sheet as of December 31, 2020 (audited)

Class A common stock subject to possible redemption

$

203,568,640

$

26,431,360

$

230,000,000

Class A common stock

$

329

$

(264)

$

65

Additional paid-in capital

$

7,061,874

$

(7,061,874)

$

Accumulated deficit

$

(2,062,769)

$

(19,369,222)

$

(21,431,991)

Total Stockholders’ Equity (Deficit)

$

5,000,009

$

(26,431,360)

$

(21,431,351)

Balance Sheet as of March 31, 2021 (unaudited)

Class A common stock subject to possible redemption

$

208,210,350

$

21,789,650

$

230,000,000

Class A common stock

$

283

$

(218)

$

65

Additional paid-in capital

$

2,420,210

$

(2,420,210)

$

Accumulated deficit

$

2,578,941

$

(19,369,222)

$

(16,790,281)

Total Stockholders' Equity (Deficit)

$

5,000,009

$

(21,789,650)

$

(16,789,641)

Balance Sheet as June 30, 2021 (unaudited)

Class A common stock subject to possible redemption

$

203,540,920

$

26,459,080

$

230,000,000

Class A common stock

$

330

$

(265)

$

65

Additional paid-in capital

$

7,089,593

$

(7,089,593)

$

Accumulated deficit

$

(2,090,494)

$

(19,369,222)

$

(21,459,716)

Total Stockholders' Equity (Deficit)

$

5,000,004

$

(26,459,080)

$

(21,459,076)

Statement of Operations for the Three Months Ended September 30, 2020 (unaudited)

 

  

 

  

 

  

Basic and diluted weighted average shares outstanding, Class A Common Stock

 

18,952,768

 

(8,094,616)

 

10,858,152

Basic and diluted net (loss) per share, Class A

$

$

(.03)

$

(.03)

Basic and diluted weighted average shares outstanding, Class B Common Stock

 

3,374,881

 

(1,926,749)

 

5,301,630

Basic and diluted net (loss) per share, Class B Common Stock

$

$

(.03)

$

(.03)

Statement of Operations for the Nine Months Ended September 30, 2020 (unaudited)

 

  

 

  

 

  

Basic and diluted weighted average shares outstanding, Class A Common Stock

 

18,952,768

 

(15,306,965)

 

3,645,803

Basic and diluted net (loss) per share, Class A

$

$

(.05)

$

(.05)

Basic and diluted weighted average shares outstanding, Class B Common Stock

 

3,424,425

 

1,494,371

 

4,918,796

Basic and diluted net (loss) per share, Class B Common Stock

$

$

(.05)

$

(.05)

Statement of Operations for the Year Ended December 31, 2020 (audited)

Basic and diluted weighted average shares outstanding, Class A Common Stock

20,323,974

181,518

20,505,492

Basic and diluted net (loss) per share, Class A

$

$

(0.08)

$

(0.08)

Basic and diluted weighted average shares outstanding, Class B Common Stock

2,318,726

2,809,006

5,127,732

Basic and diluted net (loss) per share, Class B Common Stock

$

(0.89)

$

0.81

$

(0.08)

Statement of Operations for the Three Months Ended March 31, 2021 (unaudited)

Basic and diluted weighted average shares outstanding, Class A Common Stock

21,693,414

1,956,586

23,650,000

Basic and diluted net (loss) per share, Class A

$

$

0.16

$

0.16

Basic and diluted weighted average shares outstanding, Class B Common Stock

9,043,136

(3,293,136)

5,750,000

Basic and diluted net (loss) per share, Class B Common Stock

$

0.51

$

(0.35)

$

0.16

Statement of Operations for the Three Months Ended June 30, 2021 (unaudited)

Basic and diluted weighted average shares outstanding, Class A Common Stock

20,821,035

2,828,965

23,650,000

Basic and diluted net (loss) per share, Class A

$

$

(0.16)

$

(0.16)

Basic and diluted weighted average shares outstanding, Class B Common Stock

8,485,715

(2,735,715)

5,750,000

Basic and diluted net (loss) per share, Class B Common Stock

$

(0.54)

$

0.38

$

(0.16)

Statement of Operations for the Six Months Ended June 30, 2020 (unaudited)

Basic and diluted weighted average shares outstanding, Class A Common Stock

21,926,782

1,723,218

23,650,000

Basic and diluted weighted average shares outstanding, Class B Common Stock

8,809,768

(3,059,768)

5,750,000

Statement of Cash Flows for the Nine Months Ended September 30, 2020 (unaudited)

Initial classification of Class A common stock subject to possible redemption

$

204,793,060

$

25,206,940

$

230,000,000

Change in value of Class A common stock subject to possible redemption

$

384,250

$

(384,250)

$

Statement of Cash Flows for the Year Ended December 31, 2020 (audited)

Initial classification of Class A common stock subject to possible redemption

$

204,793,060

$

25,206,940

$

230,000,000

Change in value of Class A common stock subject to possible redemption

$

(1,224,420)

$

1,224,420

$

Statement of Cash Flows for the Three Months Ended March 31, 2021 (unaudited)

Change in value of Class A common stock subject to possible redemption

$

4,641,710

$

(4,641,710)

$

Statement of Cash Flows for the Six Months Ended June 30, 2021 (unaudited)

Change in value of Class A common stock subject to possible redemption

$

(27,720)

$

27,720

$

Statement of Changes in Stockholders' Equity (Deficit) for the Period Ended September 30, 2020 (unaudited)

Sale of 23,000,000 Units, net of underwriting discounts

204,482,544

(204,482,544)

Class A common stock subject to possible redemption

(205,177,310)

205,177,310

Accretion to common stock subject to redemption amount

(25,517,456)

(25,517,456)

Total Stockholders' Equity

5,000,010

(24,822,689)

(19,822,680)

Statement of Changes in Stockholders' Equity (Deficit) for the Year Ended December 30, 2020 (audited)

Change in value of common stock subject to redemption

1,608,670

(1,608,670)

Total Stockholders' Equity

5,000,009

(26,431,360)

(21,431,351)

Statement of Changes in Stockholders' Equity (Deficit) for the Period Ended March 31, 2021 (unaudited)

Change in value of common stock subject to redemption

(4,641,710)

(4,641,710)

Total Stockholders' Equity

5,000,009

(21,789,650)

(16,789,641)

Statement of Changes in Stockholders' Equity (Deficit) for the Period Ended June 30, 2021 (unaudited)

 

  

 

  

 

  

Change in value of common stock subject to redemption

4,669,430

(4,669,430)

Total Stockholders' Equity

5,000,004

(26,459,080)

(21,459,076)