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Quarterly Financial Information | 12 Months Ended
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Dec. 31, 2020
Thunder Bridge Acquisition Il, Ltd.[Member] |
Quarterly Financial Information [Line Items] |
Quarterly Financial Information | Note 12 — Quarterly Financial Information (Unaudited) The following tables are a summary of certain quarterly financial data for the year ended December 31, 2020 and for the period from February 13, 2019 (Date of Inception) through December 31, 2019.
|  | 2020
|  | 4 th Quarter (As restated) |  | 3 rd Quarter (As restated) |  | 2 nd Quarter (As restated) |  | 1 st Quarter (As restated)
Formation costs and other operating expenses |  | $ | 1,080,155 |  |  | $ | 148,871 |  |  | $ | 153,264 |  |  | $ | 238,549 |
Loss from operations |  |  | (1,080,155 | ) |  |  | (148,871 | ) |  |  | (153,264 | ) |  |  | (238,549 | )
Other Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 8,812 |  |  |  | 8,812 |  |  |  | 87,114 |  |  |  | 2,017,548 |
Change in fair value of warrant liability(2) |  |  | (62,099,708 | ) |  |  | 2,826,228 |  |  |  | (19,520,931 | ) |  |  | 5,000,031 |
Net (loss) income |  | $ | (63,171,051 | ) |  | $ | 2,686,169 |  |  | $ | (19,587,081 | ) |  | $ | 6,779,030 |
Weighted average shares outstanding, basic and diluted(1) |  |  | 8,625,000 |  |  |  | 8,625,000 |  |  |  | 8,625,000 |  |  |  | 8,625,000 |
Basic and diluted net (loss) income per ordinary share |  | $ | (7.33 | ) |  | $ | 0.31 |  |  | $ | (2.28 | ) |  | $ | 0.55 |
(1) Excludes an aggregate of up to 34,500,000 shares subject to redemption at December 31, 2020. (2) As restated amount includes change in fair value of warrant liability of ($62,099,708), 2,826,228, ($19,520,931) and $5,000,031 in the 4th, 3rd, 2nd, and 1st Quarters, respectively.
|  | 2020
|  | 4 th Quarter (As restated) |  | 3 rd Quarter (As restated) |  | 2 nd Quarter (As restated) |  | 1 st Quarter (As restated)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 133,697 |  |  | $ | 217,982 |  |  | $ | 272,257 |  |  | $ | 304,208 |
Prepaid expenses |  |  | 59,330 |  |  |  | 341,445 |  |  |  | 370,443 |  |  |  | 403,712 |
Total current assets |  |  | 193,027 |  |  |  | 559,427 |  |  |  | 642,700 |  |  |  | 707,920 |
Other assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and marketable securities held in Trust Account |  |  | 349,583,138 |  |  |  | 349,574,326 |  |  |  | 349,565,514 |  |  |  | 349,478,401 |
Deferred offering costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total assets |  | $ | 349,776,165 |  |  | $ | 350,133,753 |  |  | $ | 350,208,214 |  |  | $ | 350,186,321 |
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 626,752 |  |  | $ | 12,998 |  |  | $ | 147,400 |  |  | $ | 59,356 |
Promissory note payable |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Warrant liability(1) |  |  | 97,181,794 |  |  |  | 35,082,086 |  |  |  | 37,908,314 |  |  |  | 18,387,385 |
Promissory note payable – related party |  |  | 300,000 |  |  |  | 200,000 |  |  |  | — |  |  |  | — |
Total current liabilities |  |  | 98,108,546 |  |  |  | 35,295,084 |  |  |  | 38,055,714 |  |  |  | 18,446,741 |
Deferred underwriting fee payable |  |  | 12,075,000 |  |  |  | 12,075,000 |  |  |  | 12,075,000 |  |  |  | 12,075,000 |
Total Liabilities |  |  | 110,183,546 |  |  |  | 47,370,084 |  |  |  | 50,130,714 |  |  |  | 30,521,741 |
Ordinary shares subject to possible redemption(2) |  |  | 349,583,138 |  |  |  | 349,574,326 |  |  |  | 349,565,514 |  |  |  | 349,478,401 |
Shareholders’ Equity (Deficit) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred shares, $0.0001 par value; 1,000,000 shares |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Class A ordinary shares, $0.0001 par value;(3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Class B ordinary shares, $0.0001 par value; |  |  | 863 |  |  |  | 863 |  |  |  | 863 |  |  |  | 863 |
Additional paid in capital(4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
(Accumulated Deficit)(5) |  |  | (109,991,382 | ) |  |  | (46,811,520 | ) |  |  | (49,488,877 | ) |  |  | (29,814,684 | )
Total Shareholders’ Equity (Deficit) |  |  | (109,990,519 | ) |  |  | (46,810,657 | ) |  |  | (49,488,014 | ) |  |  | (29,813,821 | )
|  | $ | 349,776,165 |  |  | $ | 350,133,753 |  |  | $ | 350,208,214 |  |  | $ | 350,186,321 |
(1) As restated amount includes an additional $97,181,794, 35,082,086, $37,908,314, and 18,387,385 for the 4th, 3rd, 2nd and 1st quarters, respectively. (2) As restated amount includes an increase of $17,808,732, $16,728,581, $16,579,701 and $16,426,469 for the 4th, 3rd, 2nd and 1st quarters, respectively. (3) As restated amount includes a decrease of $175, $164, $163 and $162 for the 4th, 3rd, 2nd and 1st quarters, respectively. (4) As restated amount includes a decrease of $2,416,019, $1,344,692, 1,204,624 and $1,138,477 for the 4th, 3rd, 2nd and 1st quarters, respectively. (5) As restated amount includes a decrease of $112,574,331, $50,465,812, $53,283,227 and $33,675,185 for the 4th, 3rd, 2nd and 1st quarters, respectively.
|  | 2019
|  | 4 th Quarter (As restated) |  | 3 rd Quarter (As restated) |  | 2 nd Quarter |  | For the Period from February 13, 2019 (Date of Inception) through March 31, 2019
Formation costs and other operating expenses |  | $ | 200,824 |  |  | $ | 147,173 |  |  | $ | 26,355 |  |  | $ | 5,000 |
Loss from operations |  |  | (200,824 | ) |  |  | (147,173 | ) |  |  | (26,355 | ) |  |  | (5,000 | )
Other Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 1,593,683 |  |  |  | 867,168 |  |  |  | — |  |  |  | — |
Change in fair value of warrant liability(2) |  |  | 3,494,207 |  |  |  | (1,955,798 | ) |  |  | — |  |  |  | — |
Net (loss) income |  | $ | 4,887,066 |  |  | $ | (1,235,803 | ) |  | $ | (26,355 | ) |  | $ | (5,000 | )
Weighted average shares outstanding, basic and diluted(1) |  |  | 8,625,000 |  |  |  | 8,625,000 |  |  |  | 6,382,980 |  |  |  | 6,382,980 |
Basic and diluted net (loss) income per ordinary share |  | $ | 0.38 |  |  | $ | (0.24 | ) |  | $ | — |  |  | $ | — |
(1) Excludes an aggregate of up to 34,500,000 shares subject to redemption at December 31, 2020. (2) As restated amount includes change in fair value of warrant liability of $3,494207 and ($1,955,798) in Quarters 4 and 3, respectively.
|  | 2019
|  | 4 th Quarter (As restated) |  | 3 rd Quarter (As restated) |  | August 13, 2019
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 497,549 |  |  | $ | 944,979 |  |  | $ | 1,036,349 |
Prepaid expenses |  |  | 431,294 |  |  |  | 168,309 |  |  |  | 179,900 |
Total current assets |  |  | 928,843 |  |  |  | 1,113,288 |  |  |  | 1,216,249 |
Other assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and marketable securities held in Trust Account |  |  | 347,460,852 |  |  |  | 345,867,168 |  |  |  | 345,000,000 |
Deferred offering costs |  |  | — |  |  |  | — |  |  |  | — |
Total assets |  | $ | 348,389,695 |  |  | $ | 346,980,456 |  |  | $ | 346,216,249 |
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 41,731 |  |  | $ | 25,353 |  |  | $ | 0 |
Warrant liability(1) |  |  | 23,387,415 |  |  |  | 26,881,621 |  |  |  | 26,425,984 |
Total current liabilities |  |  | 23,429,146 |  |  |  | 26,906,974 |  |  |  | 26,425,984 |
Deferred underwriting fee payable |  |  | 12,075,000 |  |  |  | 12,075,000 |  |  |  | 12,075,000 |
Total Liabilities |  |  | 35,504,146 |  |  |  | 38,981,974 |  |  |  | 38,500,984 |
Ordinary shares subject to possible redemption(2) |  |  | 347,460,852 |  |  |  | 345,867,168 |  |  |  | 345,000,000 |
Shareholders’ Equity (Deficit) |  |  |  |  |  |  |  |  |  |  |  |
Preferred shares, $0.0001 par value; 1,000,000 shares |  |  | — |  |  |  | — |  |  |  | — |
Class A ordinary shares, $0.0001 par value;(3) |  |  | — |  |  |  | — |  |  |  | — |
Class B ordinary shares, $0.0001 par value; |  |  | 863 |  |  |  | 863 |  |  |  | 863 |
Additional paid in capital(4) |  |  | — |  |  |  | — |  |  |  | — |
(Accumulated Deficit)(5) |  |  | (34,576,166 | ) |  |  | (37,869,549 | ) |  |  | (37,285,598 | )
Total Shareholders’ Equity (Deficit) |  |  | (34,575,303 | ) |  |  | (37,868,686 | ) |  |  | (37,284,735 | )
|  | $ | 348,389,695 |  |  | $ | 346,980,456 |  |  | $ | 346,216,249 |
(1) As restated amount includes an additional $97,181,794, 35,082,086, $37,908,314, and 18,387,385 for the 4th, 3rd, 2nd and 1st quarters, respectively. (2) As restate amount includes an increase of $17,808,732, $16,728,581, $16,579,701 and $16,426,469 for the 4th, 3rd, 2nd and 1st quarters, respectively. (3) As restated amount includes a decrease of 160, 162 and 159 or the 4th and 3rd quarters and on August 13, 2019. (4) As restated amount includes a decrease of $2,917,479, 4,310,339 and $5,049,201 or the 4th and 3rd quarters and on August 13, 2019. (5) As restated amount includes a decrease of $36,657,666, $38,558,188 and $37,235,353 for the 4th and 3rd quarters and on August 13, 2019.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI https://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=126900988&loc=SL124452896-108306 + Details
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