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Restatement of Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Changes and Error Corrections [Abstract]

Summary of Impact of the Restatement

Impact of the Restatement – 2020

Balance Sheets

		December 31, 2020
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	68,114,000			$	68,114,000
Total liabilities			8,693,966				68,114,000				76,807,966
Class A common stock subject to possible redemption			218,710,925				(68,113,997	)			150,596,928
Class A common stock			133				808				941
Addition paid-in capital			4,152,440				55,688,213				59,840,653
Retained earnings (accumulated deficit)			846,856				(55,689,024	)			(54,842,168	)
Total stockholders’ equity (deficit)			5,000,004				(3	)			5,000,001

Statements of Operations

		For the Year Ended December 31, 2020
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities		$	-			$	(52,152,000	)		$	(52,152,000	)
Other income (expense), net			1,481,816				(52,152,000	)			(50,670,184	)
Net income (loss)			191,177				(52,152,000	)			(51,960,823	)
Weighted average shares outstanding, basic and diluted			7,008,667				1,589,875				8,598,542
Basic and diluted net loss per common share		$	(0.12	)		$	(6.01	)		$	(6.13	)

Statements of Cash Flows

		For the Year Ended December 31, 2020
		As Reported				Adjustments				As Revised
Net income (loss)		$	191,177			$	(52,152,000	)		$	(51,960,823	)
Change in fair value of warrant liabilities			-				52,152,000				52,152,000
Non-cash investing and financing activities:
Change in value of shares subject to redemption			191,177				(52,152,000	)			(51,960,823	)

Balance Sheets

		September 30, 2020
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	21,357,000			$	21,357,000
Total liabilities			8,310,507				21,357,000				29,667,507
Class A common stock subject to possible redemption			219,259,970				(21,356,993	)			197,902,977
Class A common stock			127				338				465
Additional paid-in capital			3,603,401				8,931,679				12,535,080
Retained earnings (accumulated deficit)			1,395,905				(8,932,024	)			(7,536,119	)
Total stockholders’ equity (deficit)			5,000,008				(7	)			5,000,001

Statements of Operations

		Three Months Ended September 30, 2020
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities		$	-			$	(3,696,000	)		$	(3,696,000	)
Other income (expense), net			83,140				(3,696,000	)			(3,612,860	)
Net income (loss)			(55,049	)			(3,696,000	)			(3,751,049	)
Weighted average shares outstanding, basic and diluted			7,007,989				1,750,840				8,758,829
Basic and diluted net loss per common share		$	(0.01	)		$	(0.42	)		$	(0.43	)

Statements of Operations

		Nine Months Ended September 30, 2020
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities		$	-			$	(5,395,000	)		$	(5,395,000	)
Other income (expense), net			1,429,005				(5,395,000	)			(3,965,995	)
Net income (loss)			740,226				(5,395,000	)			(4,654,774	)
Weighted average shares outstanding, basic and diluted			5,307,098				3,111,439				8,418,537
Basic and diluted net loss per common share		$	(0.02	)		$	(0.64	)		$	(0.66	)

Statements of Cash Flows

		Nine Months Ended September 30, 2020
		As Reported				Adjustments				As Revised
Net income (loss)		$	740,226			$	(5,395,000	)		$	(4,654,774	)
Change in fair value of warrant liabilities			-				5,395,000				5,395,000
Non-cash investing and financing activities:
Change in value of shares subject to redemption			740,222				(4,491,271	)			(3,751,049	)

Balance Sheets

		June 30, 2020
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	17,661,000			$	17,661,000
Total liabilities			8,256,307				17,661,000				25,917,307
Class A common stock subject to possible redemption			219,315,022				(17,660,996	)			201,654,026
Class A common stock			126				301				427
Additional paid-in capital			3,548,350				5,235,719				8,784,069
Retained earnings (accumulated deficit)			1,450,954				(5,236,024	)			(3,785,070	)
Total stockholders’ equity (deficit)			5,000,005				(4	)			5,000,001

Statements of Operations

		Three Months Ended June 30, 2020
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities		$	-			$	(8,624,000	)		$	(8,624,000	)
Other income (expense), net			88,138				(8,624,000	)			(8,535,862	)
Net income (loss)			(51,977	)			(8,624,000	)			(8,675,977	)
Weighted average shares outstanding, basic and diluted			7,005,122				895,798				7,900,920
Basic and diluted net loss per common share		$	(0.01	)		$	(1.09	)		$	(1.10	)

Statements of Operations

		Six Months Ended June 30, 2020
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities		$	-			$	(1,699,000	)		$	(1,699,000	)
Other income (expense), net			1,345,865				(1,699,000	)			(353,135	)
Net income (loss)			795,275				(1,699,000	)			(903,725	)
Weighted average shares outstanding, basic and diluted			7,004,380				1,242,141				8,246,521
Basic and diluted net loss per common share		$	(0.03	)		$	(0.19	)		$	(0.22	)

Statements of Cash Flows

		Six Months Ended June 30, 2020
		As Reported				Adjustments				As Revised
Net income (loss)		$	795,275			$	(1,699,000	)		$	(903,725	)
Change in fair value of warrant liabilities			-				1,699,000				1,699,000
Non-cash investing and financing activities:
Change in value of shares subject to redemption			795,274				(9,471,251	)			(8,675,977	)

Balance Sheets

		March 31, 2020
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	9,037,000			$	9,037,000
Total liabilities			8,548,277				9,037,000				17,585,277
Class A common stock subject to possible redemption			219,367,001				(9,036,998	)			210,330,003
Class A common stock			126				215				341
Additional paid-in capital			3,496,371				(3,388,193	)			108,178
Retained earnings			1,502,931				3,387,976				4,890,907
Total stockholders’ equity (deficit)			5,000,003				(2	)			5,000,001

Statements of Operations

		Three Months Ended March 31, 2020
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities		$	-			$	6,925,000			$	6,925,000
Other income, net			1,257,727				6,925,000				8,182,727
Net income			847,252				6,925,000				7,772,252
Weighted average shares outstanding, basic and diluted			7,003,637				1,588,485				8,592,122
Basic and diluted net income (loss) per common share		$	(0.01	)		$	0.81			$	0.80

Statements of Cash Flows

		Three Months Ended March 31, 2020
		As Reported				Adjustments				As Revised
Net income		$	847,252			$	6,925,000			$	7,772,252
Change in fair value of warrant liabilities			-				(6,925,000	)			(6,925,000	)
Non-cash investing and financing activities:
Change in value of shares subject to redemption			847,253				6,924,999				7,772,252

Impact of the Restatement – 2019

Balance Sheets

		December 31, 2019
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	15,962,000			$	15,962,000
Total liabilities			8,319,433				15,962,000				24,281,433
Class A common stock subject to possible redemption			218,519,748				(15,961,997	)			202,557,751
Class A common stock			125				284				409
Addition paid-in capital			4,343,625				3,536,737				7,880,362
Retained earnings (accumulated deficit)			655,679				(3,537,024	)			(2,881,345	)
Total stockholders’ equity (deficit)			5,000,004				(3	)			5,000,001

Statements of Operations

		For the Period From May 28, 2019 (inception) through December 31, 2019
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities			-				(3,053,000	)			(3,053,000	)
Issuance costs allocated to warrant liabilities			-				(484,024	)			(484,024	)
Other income (expense), net			1,214,831				(3,537,024	)			(2,322,193	)
Net income (loss)			655,679				(3,537,024	)			(2,881,345	)
Weighted average shares outstanding, basic and diluted			6,075,732				35,752				6,111,484
Basic and diluted net loss per common share		$	(0.04	)		$	(0.57	)		$	(0.61	)

Statements of Cash Flows

		For the Period From May 28, 2019 (inception) through December 31, 2019
		As Reported				Adjustments				As Revised
Operating Activities:
Net income (loss)		$	655,679			$	(3,537,024	)		$	(2,881,345	)
Change in fair value of warrant liabilities			-				3,053,000				3,053,000
Net cash used in operating activities			(420,945	)			(484,024	)			(904,969	)
Financing Activities:
Proceeds from sale of Units, net of underwriting discounts paid			225,400,000				484,024				225,884,024
Net cash provided by financing activities			230,914,073				484,024				231,398,097
Non-cash investing and financing activities:
Initial classification of ordinary shares subject to redemption			217,862,910				(12,909,000	)			204,953,910
Change in value of shares subject to redemption			656,838				(3,052,997	)			(2,396,159	)

Balance Sheets

		September 30, 2019
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	13,085,000			$	13,085,000
Total liabilities			8,125,774				13,085,000				21,210,774
Class A common stock subject to possible redemption			217,950,740				(13,085,000	)			204,865,740
Class A common stock			122				253				375
Additional paid-in capital			4,912,636				659,771				5,572,407
Retained earnings (accumulated deficit)			86,668				(660,024	)			(573,356	)

Statements of Operations

		Three Months Ended September 30, 2019
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities			-				(176,000	)			(176,000	)
Issuance costs allocated to warrant liabilities			-				(484,024	)			(484,024	)
Other income (expense), net			205,420				(660,024	)			(454,604	)
Net income (loss)			87,761				(660,024	)			(572,263	)
Weighted average shares outstanding, basic and diluted			5,307,098				228,499				5,535,597
Basic and diluted net income (loss) per common share		$	(0.02	)		$	(0.11	)		$	(0.13	)

Statements of Operations

		For the Period From May 28, 2019 (inception) through September 30, 2019
		As Reported				Adjustments				As Revised
Changes in fair value of warrant liabilities			-				(176,000	)			(176,000	)
Issuance costs allocated to warrant liabilities			-				(484,024	)			(484,024	)
Other income (expense), net			205,420				(660,024	)			(454,604	)
Net income (loss)			86,668				(660,024	)			(573,356	)
Weighted average shares outstanding, basic and diluted			5,274,301				(760,101	)			4,514,200
Basic and diluted net income (loss) per common share		$	(0.02	)		$	(0.14	)		$	(0.16	)

Statements of Cash Flows

		For the Period From May 28, 2019 (inception) through September 30, 2019
		As Reported				Adjustments				As Revised
Operating Activities:
Net income (loss)		$	86,668			$	(660,024	)		$	(573,356	)
Change in fair value of warrant liabilities			-				176,000				176,000
Net cash used in operating activities			(208,689	)			(484,024	)			(692,713	)
Financing Activities:
Proceeds from sale of Units, net of underwriting discounts paid			225,400,000				484,024				225,884,024
Net cash provided by financing activities			230,914,073				484,024				231,398,097
Non-cash investing and financing activities:
Initial classification of ordinary shares subject to redemption			217,862,910				(12,908,991	)			204,953,919
Change in value of shares subject to redemption			87,830				(176,009	)			(88,179	)

Balance Sheets

		September 13, 2019
		As Reported				Adjustments				As Revised
Warrant liabilities		$	-			$	11,370,000			$	11,370,000
Total liabilities			8,084,093				11,370,000				19,454,093
Class A common stock subject to possible redemption			188,912,910				(11,369,991	)			177,542,919
Class A common stock			111				114				225
Additional paid-in capital			5,000,477				423,676				5,424,153
Retained earnings (accumulated deficit)			(1,153	)			(423,799	)			(424,952	)
Total stockholders’ equity (deficit)			5,000,010				(9	)			5,000,001

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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