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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 11 Months Ended
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Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of fair value assumptions of warrant liability | The assumptions used to value the warrants were as follows:
|  | Inception date of warrants |
Fair value of common stock |  | $ | 9.88 |
Conversion price |  | $ | 11.50 |
Risk free interest rate |  |  | 0.4 | %
Expected dividend yield |  |  | 0 | %
Expected term |  |  | 5 years |
Expected volatility |  |  | 9.2 | %
Schedule of calculation of basic and diluted net loss per share | The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):
|  | For the Period
|  | From
|  | February 4,
|  | 2020
|  | (inception)
|  | Through
|  | December 31,
|  | 2020 (As Restated)
Redeemable Class A Common Stock |  |  |
Numerator: Earnings allocable to Redeemable Class A Common Stock |  |  |
Interest Income |  | $ | 355,909
Income and Franchise Tax |  |  | (218,103)
Net Earnings |  | $ | 137,806
Denominator: Weighted Average Redeemable Class A Common Stock |  |  |
Redeemable Class A Common Stock, Basic and Diluted |  |  | 40,948,182
Earnings/Basic and Diluted Redeemable Class A Common Stock |  | $ | —
Non-Redeemable Class A and B Common Stock |  |  |
Numerator: Net Loss minus Redeemable Net Earnings |  |  |
Net Loss |  | $ | (132,204,768)
Redeemable Net Earnings |  |  | (137,806)
Non-Redeemable Net Loss |  | $ | (132,342,574)
Denominator: Weighted Average Non-Redeemable Class B Common Stock |  |  |
Non-Redeemable Class A and B Common Stock, Basic and Diluted (1) |  |  | 9,839,969
Loss/Basic and Diluted Non-Redeemable Class B Common Stock |  | $ | (13.45)

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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