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Restatement Of Previously Issued Financial Statements (Tables)
 11 Months Ended
Dec. 31, 2020
Restatement Of Financial Statements [Abstract]  
Summary of restatement of financial statements
The following table reflects HEC’s balance sheet and cash flow statement as of the dates and for the periods indicated below:
 
 
 
As Previously
Reported
 
 
Adjustments
 
 
As Restated
 
Balance sheet as of
June 11, 2020
(audited)
 
   
 
   
 
   
Warrant Liability
 
$
—  
 
 
$
34,697,600
 
 
$
34,697,600
 
FPA Liability
 
 
—  
 
 
 
350,000
 
 
 
350,000
 
Common Stock Subject to Possible Redemption
 
 
395,946,830
 
 
 
(35,047,600
) 
 
 
360,899,230
 
Class A Common Stock
 
 
181
 
 
 
350
 
 
 
531
 
Additional Paid-in Capital
 
 
5,003,772
 
 
 
2,906,063
 
 
 
7,909,835
 
Accumulated Deficit
 
 
(4,984
)
 
 
(2,906,413
) 
 
 
(2,911,397
)
    
Balance sheet as of
June 30, 2020
(
un
audited)
 
   
 
   
 
   
Warrant Liability
 
$
—  
 
 
$
36,039,600
 
 
$
36,039,600
 
FPA Liability
 
 
—  
 
 
 
675,000
 
 
 
675,000
 
Common Stock Subject to Possible Redemption
 
 
395,915,430
 
 
 
(36,714,600
) 
 
 
359,200,830
 
Class A Common Stock
 
 
181
 
 
 
367
 
 
 
548
 
Additional Paid-in Capital
 
 
5,035,172
 
 
 
4,573,046
 
 
 
9,608,218
 
Accumulated Deficit
 
 
(36,385
) 
 
 
(4,573,413
) 
 
 
(4,609,798
)
    
Three Months Ended June 30, 2020
(
un
audited)
 
   
 
   
 
   
Change in fair value of warrant liability
 
$
—  
 
 
$
(1,342,000
) 
 
$
(1,342,000
)
Change in fair value of FPA
 
 
—  
 
 
 
(325,000
) 
 
 
(325,000
) 
Compensation expense in connection with issuance of Private Placement Warrants
 
 
—  
 
 
 
(1,233,600
) 
 
 
(1,233,600
) 
Initial classification of FPA
 
 
—  
 
 
 
(350,000
) 
 
 
(350,000
) 
Transaction costs attributable to Warrants
 
 
—  
 
 
 
(1,322,813
) 
 
 
(1,322,813
) 
Net loss
 
 
(35,385
) 
 
 
(4,573,413
) 
 
 
(4,608,798
) 
Weighted average shares outstanding of Class B non-redeemable common stock
 
 
10,350,000
 
 
   
 
 
10,350,000
 
Basic and diluted net loss per share, Class B non-redeemable common stock
 
 
(0.00
) 
 
 
(0.45
) 
 
 
(0.45
) 
    
Period from
February 6, 2020
(inception) to
June 30, 2020
(
un
audited)
 
   
 
   
 
   
Change in fair value of warrant liability
 
$
—  
 
 
$
(1,342,000
) 
 
$
(1,342,000
)
Change in fair value of FPA
 
 
—  
 
 
 
(325,000
) 
 
 
(325,000
) 
Compensation expense in connection with issuance of Private Placement Warrants
 
 
—  
 
 
 
(1,233,600
) 
 
 
(1,233,600
) 
Initial classification of FPA
 
 
—  
 
 
 
(350,000
) 
 
 
(350,000
) 
Transaction costs attributable to Warrants
 
 
—  
 
 
 
(1,322,813
) 
 
 
(1,322,813
) 
Net loss
 
 
(36,385
) 
 
 
(4,573,413
) 
 
 
(4,609,798
) 
Weighted average shares outstanding of Class B non-redeemable common stock
 
 
10,350,000
 
 
   
 
 
10,350,000
 
Basic and diluted net loss per share, Class B non-redeemable common stock
 
 
(0.00
) 
 
 
(0.45
) 
 
 
(0.45
) 
    
Cash Flow Statement for the Period from February 6, 2020 (inception) to June 30, 2020 (unaudited)
 
   
 
   
 
   
Net Loss
 
$
(36,385
) 
 
$
(4,573,413
) 
 
$
(4,609,798
) 
Change in fair value of warrant liability
 
$
 
 
 
$
1,342,000
 
 
$
 1,342,000
 
Initial classification of warrant liability
 
$
 
 
 
$
34,697,600
 
 
$
34,697,600
 
Change in fair value of FPA Liability
 
$
 
 
 
$
325,000
 
 
$
325,000
 
Initial classification of FPA liability
 
$
 
 
 
$
350,000
 
 
$
350,000
 
Transaction Costs
 
$
 
 
 
$
1,322,813
 
 
$
1,322,813
 
Initial classification of common stock subject to redemption
 
$
395,946,830
 
 
$
(35,047,600
) 
 
$
360,899,230
 
Change in value of common stock subject to possible redemption
 
$
(31,400
) 
 
$
(1,667,000
)
 
$
(1,698,400
) 
    
Balance sheet as of
September 30, 2020
(
un
audited)
 
   
 
   
 
   
Warrant Liability
 
$
—  
 
 
$
36,659,200
 
 
$
36,659,200
 
FPA Liability
 
 
—  
 
 
 
1,100,000
 
 
 
1,100,000
 
Common Stock Subject to Possible Redemption
 
 
395,905,310
 
 
 
(37,759,200
) 
 
 
358,146,110
 
Class A Common Stock
 
 
181
 
 
 
378
 
 
 
11
 
Additional Paid-in Capital
 
 
5,045,292
 
 
 
5,617,635
 
 
 
10,662,927
 
Accumulated Deficit
 
 
(46,499
) 
 
 
(5,618,013
) 
 
 
(5,664,512
)
    
Three Months Ended September 30, 2020
(
un
audited)
 
   
 
   
 
   
Change in fair value of warrant liability
 
$
—  
 
 
$
(619,600
) 
 
$
(619,600
)
Change in fair value of FPA
 
 
—  
 
 
 
(425,000
) 
 
 
(425,000
) 
Net loss
 
 
(10,114
) 
 
 
(1,044,600
) 
 
 
(1,054,714
) 
Weighted average shares outstanding of Class B non-redeemable common stock
 
 
10,350,000
 
 
   
 
 
10,350,000
 
Basic and diluted net loss per share, Class B non-redeemable common stock
 
 
(0.01
) 
 
 
(0.10
) 
 
 
(0.11
) 
    
Period from
February 6, 2020
(inception) to
September 30, 2020
(
un
audited)
 
   
 
   
 
   
Change in fair value of warrant liability
 
$
—  
 
 
$
(1,961,600
) 
 
$
(1,961,600
 
Change in fair value of FPA
 
 
—  
 
 
 
(750,000
) 
 
 
(750,000
) 
Compensation expense in connection with issuance of Private Placement Warrants
 
 
—  
 
 
 
(1,233,600
) 
 
 
(1,233,600
) 
Initial classification of FPA
 
 
—  
 
 
 
(350,000
) 
 
 
(350,000
) 
Transaction costs attributable to Warrants
 
 
—  
 
 
 
(1,322,813
) 
 
 
(1,322,813
) 
Net loss
 
 
(46,499
) 
 
 
(5,618,013
) 
 
 
(5,664,512
) 
Weighted average shares outstanding of Class B non-redeemable common stock
 
 
10,350,000
 
 
   
 
 
10,350,000
 
Basic and diluted net loss per share, Class B non-redeemable common stock
 
 
(0.01
) 
 
 
(0.54
) 
 
 
(0.55
) 
    
Cash Flow Statement for the Period from February 6, 2020 (inception) to September 30, 2020 (unaudited)
 
   
 
   
 
   
Net Loss
 
$
(46,499
) 
 
$
(5,618,013
) 
 
$
(5,664,512
) 
Change in fair value of warrant liability
 
$
 
 
 
$
1,961,600
 
 
$
 1,961,600
 
Initial classification of warrant liability
 
$
 
 
 
$
34,697,600
 
 
$
34,697,600
 
Change in fair value of FPA Liability
 
$
 
 
 
$
750,000
 
 
$
750,000
 
Initial classification of FPA liability
 
$
 
 
 
$
350,000
 
 
$
350,000
 
Transaction Costs
 
$
 
 
 
$
1,322,813
 
 
$
1,322,813
 
Initial classification of common stock subject to redemption
 
$
395,946,830
 
 
$
(35,047,600
) 
 
$
360,899,230
 
Change in value of common stock subject to possible redemption
 
$
(41,520
) 
 
$
(2,711,600
)
 
$
(2,753,120
) 
    
Balance sheet as of
December 31, 2020
(audited)
 
   
 
   
 
   
Warrant Liability
 
$
—  
 
 
$
53,594,000
 
 
$
53,594,000
 
FPA Liability
 
 
—  
 
 
 
4,225,000
 
 
 
4,225,000
 
Common Stock Subject to Possible Redemption
 
 
394,393,720
 
 
 
(57,819,000
) 
 
 
336,574,720
 
Class A Common Stock
 
 
196
 
 
 
578
 
 
 
774
 
Additional Paid-in Capital
 
 
6,556,867
 
 
 
25,677235
 
 
 
32,234,102
 
Accumulated Deficit
 
 
(1,558,095
) 
 
 
(25,677,813
) 
 
 
(27,235,908
)
    
Period from
February 6, 2020
(inception) to
December 31, 2020
(audited)
 
   
 
   
 
   
Change in fair value of warrant liability
 
$
—  
 
 
$
(18,896,400
) 
 
$
(18,896,400
)
Change in fair value of FPA
 
 
—  
 
 
 
(3,875,000
) 
 
 
(3,875,000
) 
Compensation expense in connection with issuance of Private Placement Warrants
 
 
—  
 
 
 
(1,233,600
) 
 
 
(1,233,600
) 
Initial classification of FPA
 
 
—  
 
 
 
(350,000
) 
 
 
(350,000
) 
Transaction costs attributable to Warrants
 
 
—  
 
 
 
(1,322,813
) 
 
 
(1,322,813
) 
Net loss
 
 
(1,558,095
) 
 
 
(25,677,813
) 
 
 
(27,235,908
) 
Weighted average shares outstanding of Class B non-redeemable common stock
 
 
10,350,000
 
 
   
 
 
10,350,000
 
Basic and diluted net loss per share, Class B non-redeemable common stock
 
 
(0.15
) 
 
 
(2.49
) 
 
 
(2.64
) 
    
Cash Flow Statement for the Period from February 6, 2020 (inception) to December 31, 2020 (audited)
 
   
 
   
 
   
Net Loss
 
$
(1,558,095
) 
 
$
(25,677,813
) 
 
$
(27,235,908
) 
Change in fair value of warrant liability
 
$
 
 
 
$
18,896,400
 
 
$
 18,896,400
 
Initial classification of warrant liability
 
$
 
 
 
$
34,697,600
 
 
$
34,697,600
 
Change in fair value of FPA Liability
 
$
 
 
 
$
3,875,000
 
 
$
3,875,000
 
Initial classification of FPA liability
 
$
 
 
 
$
350,000
 
 
$
350,000
 
Transaction Costs
 
$
 
 
 
$
1,322,813
 
 
$
1,322,813
 
Initial classification of common stock subject to redemption
 
$
395,946,830
 
 
$
(35,047,600
) 
 
$
360,899,230
 
Change in value of common stock subject to possible redemption
 
$
(1,553,110
) 
 
$
(22,771,400
)
 
$
(24,324,510
)