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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 11 Months Ended
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)