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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 4 Months Ended
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Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of correction of error in previously issued financial statements |
|  | As of
|  | December 31, 2020
|  | As Reported |  | As Restated |  | Difference
Balance Sheet |  |  |  |  |  |  |  |  |
Derivative warrant liabilities |  | $ | — |  | $ | 33,660,000 |  | $ | 33,660,000
Total Liabilities |  |  | 8,099,934 |  |  | 41,759,934 |  |  | 33,660,000
Class A ordinary shares subject to possible redemption |  |  | 221,345,469 |  |  | 187,685,474 |  |  | (33,659,995)
Class A ordinary shares, $0.0001 par value |  |  | 108 |  |  | 442 |  |  | 334
Additional paid-in capital |  |  | 5,111,494 |  |  | 17,970,408 |  |  | 12,858,914
Accumulated deficit |  |  | (112,171) |  |  | (12,971,424) |  |  | (12,859,253)
Total Shareholders' Equity |  |  | 5,000,001 |  |  | 5,000,001 |  |  | —
|  | For the Period from August 20, 2020
|  | Through December 31, 2020
|  | As Reported |  | As Restated |  | Difference
Statements of Operations |  |  |  |  |  |  |  |  |
Change in value of derivative warrant liabilities |  | $ | — |  | $ | (12,110,000) |  | $ | (12,110,000)
Offering costs allocated to derivative warrant liabilities |  |  | — |  |  | (749,253) |  |  | (749,253)
Net loss |  | $ | (112,171) |  | $ | (12,971,424) |  | $ | (12,859,253)
Per Share Data: |  |  |  |  |  |  |  |  |
Basic and diluted income (loss) per share, Class A |  | $ | — |  | $ | — |  | $ | —
Basic and diluted net less per share, Class B |  | $ | (0.02) |  | $ | (2.50) |  | $ | (2.48)
Schedule of basic and diluted net income (loss) per common share |
|  | FOR THE PERIOD FROM
|  | AUGUST 20, 2020 (Inception)
|  | THROUGH DECEMBER 31,
|  | 2020
Redemable Class A Ordinary Shares |  |  |
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares |  |  |
Interest Income |  | $ | 1,973
Income and Franchise Tax |  |  | —
Net Earnings |  | $ | 1,973
Denominator: Weighted Average Redeemable class A Ordinary Shares |  |  |
Redeemable Class A Common Stock, Basic and Diluted |  |  | 23,000,000
Earnings/Basic and Diluted Redeemable Class A Ordinary Shares |  | $ | 0.00
Non-Redeemable Class B Ordinary Shares |  |  |
Numerator: Net Loss minus Redeemable Net Earnings |  |  |
Net Loss |  | $ | (12,971,424)
Redeemable Net Earnings |  |  | (1,973)
Non-Redeemable Net Loss |  | $ | (12,973,397)
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares |  |  |
Non-Redeemable Class B Ordinary Shares, Basic and Diluted |  |  | 5,194,656
Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares |  | $ | (2.50)

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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