Registration of securities issued in business combination transactions

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY) (Tables)

v3.21.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY) (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES    
Schedule of reconciliation of Class A common stock reflected on the balance sheet

At September 30, 2021, the Class A common stock reflected in the condensed consolidated balance sheet are reconciled in the following table:
 
Gross proceeds
 
$
230,000,000
 
Less:
       
Proceeds allocated to Public Warrants
 
$
(13,225,000
)
Class A common stock issuance costs
 
$
12,292,456
 
Plus:
       
Accretion of carrying value to redemption value
 
$
25,517,456
 
Class A common stock subject to possible redemption
 
$
230,000,000
 

At December 31, 2020, the Class A common stock reflected in the condensed consolidated balance sheet are reconciled in the following table:

 

Gross proceeds   $ 230,000,000  
Less:        
Proceeds allocated to Public Warrants   $ (13,225,000 )
Class A common stock issuance costs   $ (12,292,456 )
Plus:        
Accretion of carrying value to redemption value   $ 25,517,456  
Class A common stock subject to possible redemption   $ 230,000,000  
Reconciliation of Net Loss per Common Share

The following table reflects the calculation of basic and diluted net loss per common stock (in dollars, except per share amounts):
 
 
 
Three Months Ended
   
Three Months Ended
   
Nine Months Ended
   
Nine Months Ended
 
 
 
September 30, 2021
   
September 30, 2020
   
September 30, 2021
   
September 30, 2020
 
 
       
(As Restated)
         
(As Restated)
 
 
 
Class A
   
Class B
   
Class A
   
Class B
   
Class A
   
Class B
   
Class A
   
Class B
 
Basic and diluted net income (loss) per common stock
                                               
Numerator:
                                               
Allocation of net income (loss), as adjusted
 
$
582,608
   
$
141,649
   
$
(304,448
)
 
$
(148,650
)
 
$
560,306
   
$
136,226
   
$
(192,876
)
 
$
(260,222
)
Denominator:
                                                               
Basic and diluted weighted average stock outstanding
   
23,650,000
     
5,750,000
     
10,858,152
     
5,301,630
     
23,650,000
     
5,750,000
     
3,645,803
     
4,918,796
 
Basic and diluted net income (loss) per common stock
 
$
0.02
   
$
0.02
   
$
(0.03
)
 
$
(0.03
)
 
$
0.02
   
$
0.02
   
$
(0.05
)
 
$
(0.05
)

Non-redeemable common stock includes Founder Shares and non-redeemable shares of common stock as these shares do not have any redemption features. Non-redeemable common stock participates in the income or loss on marketable securities based on non-redeemable common stock shares’ proportionate interest.

 

    Year ended
December 31,
2020
    For the Period
from December
23, 2019
(Inception)
through
December 31,
2019
 
   

(As Restated)

       
Common stock subject to possible redemption            
Numerator: Earnings allocable to Common stock subject to possible redemption            
Interest earned on marketable securities held in Trust Account            
Less: Income taxes and franchise fees   $ (11,254 )   $  
Net loss allocable to shares subject to possible redemption   $     $  
Denominator: Weighted Average Common stock subject to possible redemption                
Basic and diluted weighted average shares outstanding     21,833,901        
Basic and diluted net income per share   $ 0.00     $  
                 
Non-Redeemable Common Stock                
Numerator: Net Loss minus Net Earnings                
Net loss   $ (2,061,769 )   $ (1,000 )
Net loss allocable to Common stock subject to possible redemption            
Non-Redeemable Net Loss   $ (2,061,769 )   $ (1,000 )
Denominator: Weighted Average Non-Redeemable Common Stock                
Basic and diluted weighted average shares outstanding   $ 2,318,726        
Basic and diluted net loss per share   $ (0.89 )   $ (0.00 )

The following table reflects the calculation of basic and diluted net loss per common stock (in dollars, except per share amounts):

 

    For the Year Ended  
    December 31, 2020  
    Class A     Class B  
Basic and diluted net income (loss) per common stock            
Numerator:            
Allocation of net income (loss), as adjusted   $ (1,295,774 )   $ (765,995 )
Denominator:                
Basic and diluted weighted average stock outstanding     8,674,180       5,127,732  
Basic and diluted net income (loss) per common stock   $ (0.15 )   $ (0.15 )