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v3.21.2

Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2021
Accounting Policies [Abstract] |
Schedule of the impact of the revision to the Post-IPO balance sheet | The change in the carrying value of the redeemable Class A common stock in the Post-IPO Balance Sheet resulted in a reclassification of approximately 1.6 million shares of Class A common stock from permanent equity to temporary equity. The impact of the revision to the Post-IPO Balance Sheet is as follows:
As of March 9, 2021 |  | As Reported |  |  | Adjustment |  |  | As Restated |
Total assets |  | $ | 347,538,706 |  |  |  |  |  |  | $ | 347,538,706 |
Total liabilities |  | $ | 13,294,983 |  |  |  |  |  |  | $ | 13,294,983 |
Class A common stock subject to possible redemption |  |  | 329,243,720 |  |  |  | 15,756,280 |  |  |  | 345,000,000 |
Preferred stock |  |  | — |  |  |  | — |  |  |  | — |
Class A common stock |  |  | 158 |  |  |  | (158 | ) |  |  | — |
Class B common stock |  |  | 863 |  |  |  | — |  |  |  | 863 |
Additional paid-in capital |  |  | 5,037,145 |  |  |  | (5,037,145 | ) |  |  | — |
Accumulated deficit |  |  | (38,163 | ) |  |  | (10,718,977 | ) |  |  | (10,757,140 | )
Total stockholders’ equity (deficit) |  | $ | 5,000,003 |  |  | $ | (15,756,280 | ) |  | $ | (10,756,277 | )
Total Liabilities, Class A Common Stock Subject to Possible |  |  |  |  |  |  |  |  |  |  |  |
Redemption and Stockholders’ Equity (Deficit) |  | $ | 347,538,706 |  |  | $ | — |  |  | $ | 347,538,706 |
Schedule of effect of the financial statement adjustments related to the restatement of balance sheet | The change in the carrying value of the redeemable Class A common stock at March 31, 2021 resulted in a reclassification of approximately 5.1 million shares of Class A common stock from permanent equity to temporary equity. The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited balance sheet as of March 31, 2021:
As of March 31, 2021 (unaudited) |  | As Reported |  |  | Adjustment |  |  | As Restated |
Total assets |  | $ | 346,518,868 |  |  |  |  |  |  | $ | 346,518,868 |
Total liabilities |  | $ | 47,189,952 |  |  |  |  |  |  | $ | 47,189,952 |
Class A common stock subject to possible redemption |  |  | 294,328,910 |  |  |  | 50,671,090 |  |  |  | 345,000,000 |
Preferred stock |  |  | — |  |  |  | — |  |  |  | — |
Class A common stock |  |  | 507 |  |  |  | (507 | ) |  |  | — |
Class B common stock |  |  | 863 |  |  |  | — |  |  |  | 863 |
Additional paid-in capital |  |  | 19,549,351 |  |  |  | (19,549,351 | ) |  |  | — |
Accumulated deficit |  |  | (14,550,715 | ) |  |  | (31,121,232 | ) |  |  | (45,671,947 | )
Total stockholders’ equity (deficit) |  | $ | 5,000,006 |  |  | $ | (50,671,090 | ) |  | $ | (45,671,084 | )
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit) |  | $ | 346,518,868 |  |  | $ | — |  |  | $ | 346,518,868 |
The change in the carrying value of the redeemable Class A common stock at June 30, 2021 resulted in a reclassification of approximately 5.1 million shares of Class A common stock from permanent equity to temporary equity. The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited balance sheet as of June 30, 2021:
As of June 30, 2021 (unaudited) |  | As Reported |  |  | Adjustment |  |  | As Restated |
Total assets |  | $ | 345,880,864 |  |  |  |  |  |  | $ | 345,880,864 |
Total liabilities |  | $ | 46,788,321 |  |  |  |  |  |  | $ | 46,788,321 |
Class A common stock subject to possible redemption |  |  | 294,092,540 |  |  |  | 50,907,460 |  |  |  | 345,000,000 |
Preferred stock |  |  | — |  |  |  | — |  |  |  | — |
Class A common stock |  |  | 509 |  |  |  | (509 | ) |  |  | — |
Class B common stock |  |  | 863 |  |  |  | — |  |  |  | 863 |
Additional paid-in capital |  |  | 19,785,719 |  |  |  | (19,785,719 | ) |  |  | — |
Accumulated deficit |  |  | (14,787,088 | ) |  |  | (31,121,232 | ) |  |  | (45,908,320 | )
Total stockholders’ equity (deficit) |  | $ | 5,000,003 |  |  | $ | (50,907,460 | ) |  | $ | (45,907,457 | )
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Equity (Deficit) |  | $ | 345,880,864 |  |  | $ | — |  |  | $ | 345,880,864 |
Schedule of effect of the financial statement adjustments related to the restatement of cash flows | The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited statement of cash flows for the three months ended March 31, 2021:
|  | For the three months ended March 31, 2021 (unaudited) |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Supplemental Disclosure of Noncash Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Value of Class A common stock subject to possible redemption |  | $ | 294,328,910 |  |  | $ | (294,328,910 | ) |  | $ | — |
The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited statement of cash flows for the six months ended June 30, 2021:
|  | For the period six months ended June 30, 2021 (unaudited) |
|  | As Reported |  | Adjustment |  |  | As Restated |
Supplemental Disclosure of Noncash Financing Activities: |  |  |  |  |  |  |  |  |  |
Value of Class A common stock subject to possible redemption |  | $294,092,540 |  | $ | (294,092,540 | ) |  | $ | — |
Schedule of the weighted average shares outstanding and basic and diluted earnings per common share |
|  | Earnings Per Share for Class A common stock |
|  | As Reported |  |  | Adjustment |  |  | As Adjusted |
Form 10-Q (March 31, 2021)—For the three months ended March 31, 2021 (unaudited) |  |  |  |  |  |  |  |  |
Net loss |  | $ | (14,549,315 | ) |  | $ | — |  |  | $ | (14,549,315 | )
Weighted average shares outstanding |  |  | 7,787,500 |  |  |  | — |  |  |  | 7,787,500 |
Basic and diluted earnings per share |  | $ | 0.00 |  |  | $ | (0.88 | ) |  | $ | (0.88 | )
Form 10-Q (June 30, 2021)—For the three months ended June 30, 2021 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (236,373 | ) |  | $ | — |  |  | $ | (236,373 | )
Weighted average shares outstanding |  |  | 34,500,000 |  |  |  | — |  |  |  | 34,500,000 |
Basic and diluted earnings per share |  | $ | 0.00 |  |  | $ | (0.01 | ) |  | $ | (0.01 | )
Form 10-Q (June 30, 2021)—For the six months ended June 30, 2021 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (14,785,688 | ) |  | $ | — |  |  | $ | (14,785,688 | )
Weighted average shares outstanding |  |  | 34,500,000 |  |  |  | (12,770,718 | ) |  |  | 21,729,282 |
Basic and diluted earnings per share |  | $ | 0.00 |  |  | $ | (0.49 | ) |  | $ | (0.49 | )
|  | Earnings Per Share for Class B common stock |
|  | As Reported |  |  | Adjustment |  |  | As Adjusted |
Form 10-Q (March 31, 2021)—For the three months ended March 31, 2021 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (14,549,315 | ) |  | $ | — |  |  | $ | (14,549,315 | )
Weighted average shares outstanding |  |  | 7,778,090 |  |  |  | 846,910 |  |  |  | 8,625,000 |
Basic and diluted earnings per share |  | $ | (0.06 | ) |  | $ | (0.82 | ) |  | $ | (0.88 | )
Form 10-Q (June 30, 2021)—For the three months ended June 30, 2021 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (236,373 | ) |  | $ | — |  |  | $ | (236,373 | )
Weighted average shares outstanding |  |  | 8,625,000 |  |  |  | — |  |  |  | 8,625,000 |
Basic and diluted earnings per share |  | $ | (0.03 | ) |  | $ | 0.02 |  |  | $ | (0.01 | )
Form 10-Q (June 30, 2021)—For the six months ended June 30, 2021 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (14,785,688 | ) |  | $ | — |  |  | $ | (14,785,688 | )
Weighted average shares outstanding |  |  | 8,208,564 |  |  |  | — |  |  |  | 8,208,564 |
Basic and diluted earnings per share |  | $ | (1.80 | ) |  | $ | 1.31 |  |  | $ | (0.49 | )
Schedule of earnings per share, basic and diluted | The following table presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock:
|  | For the Three Months Ended September 30, 2021 |  |  | For the Nine Months Ended September 30, 2021 |
|  | Class A |  |  | Class B |  |  | Class A |  |  | Class B |
Basic and diluted net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocation of net income (loss) |  | $ | (5,308,662 | ) |  | $ | (1,327,165 | ) |  | $ | (16,219,758 | ) |  | $ | (5,201,757 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted weighted average common shares outstanding |  |  | 34,500,000 |  |  |  | 8,625,000 |  |  |  | 26,032,967 |  |  |  | 8,348,901 |
Basic and diluted net income (loss) per common share |  | $ | (0.15 | ) |  | $ | (0.15 | ) |  | $ | (0.62 | ) |  | $ | (0.62 | )

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