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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2020
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS [Abstract] |
Effect of Restatement on Financial Statements | The following summarizes the effect of the Restatement on each financial statement line item for each period presented herein and as of the date of the Company’s consummation of its IPO.
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
Balance sheet as of September 17, 2020 (audited) |  |  |  |  |  |  |  |  |
Warrant Liability |  | $ | — |  |  | $ | 16,290,000 |  |  | $ | 16,290,000 |
Total Liabilities |  |  | 8,579,943 |  |  |  | 16,290,000 |  |  |  | 24,869,943 |
Class A Common Stock Subject to Possible Redemption |  |  | 218,646,370 |  |  |  | (16,290,000 | ) |  |  | 202,384,370 |
Class A common stock |  |  | 113 |  |  |  | 163 |  |  |  | 276 |
Additional Paid-in Capital |  |  | 5,001,136 |  |  |  | 579,837 |  |  |  | 5,580,973 |
Accumulated Deficit |  |  | (1,818 | ) |  |  | (580,000 | ) |  |  | (581,818 | )
Total Stockholders’ Equity |  |  | 5,000,006 |  |  |  | — |  |  |  | 5,000,006 |
Balance sheet as of September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Warrant Liability |  | $ | — |  |  | $ | 16,109,000 |  |  | $ | 16,109,000 |
Total Liabilities |  |  | 8,101,692 |  |  |  | 16,109,000 |  |  |  | 24,210,692 |
Class A Common Stock Subject to Possible Redemption |  |  | 218,646,030 |  |  |  | (16,109,000 | ) |  |  | 202,537,030 |
Class A common stock |  |  | 114 |  |  |  | 161 |  |  |  | 275 |
Additional Paid-in Capital |  |  | 5,029,475 |  |  |  | 398,839 |  |  |  | 5,428,314 |
Accumulated deficit |  |  | (30,155 | ) |  |  | (399,000 | ) |  |  | (429,155 | )
Total Stockholders’ Equity |  |  | 5,000,009 |  |  |  | — |  |  |  | 5,000,009 |
Balance sheet as of December 31, 2020 (audited) |  |  |  |  |  |  |  |  |  |  |  |
Warrant Liability |  | $ | — |  |  | $ | 23,530,000 |  |  | $ | 23,530,000 |
Total Liabilities |  |  | 8,365,328 |  |  |  | 23,530,000 |  |  |  | 31,895,328 |
Class A Common Stock Subject to Possible Redemption |  |  | 218,249,000 |  |  |  | (23,530,000 | ) |  |  | 194,719,000 |
Class A Common Stock |  |  | 118 |  |  |  | 235 |  |  |  | 353 |
Additional Paid-in Capital |  |  | 5,426,501 |  |  |  | 7,819,765 |  |  |  | 13,246,266 |
Accumulated Deficit |  |  | (427,187 | ) |  |  | (7,820,000 | ) |  |  | (8,247,187 | )
Total Stockholders’ Equity |  |  | 5,000,007 |  |  |  | — |  |  |  | 5,000,007 |
Statement of operations for the three months ended September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of warrant liability |  |  | — |  |  |  | 181,000 |  |  |  | 181,000 |
Transaction costs allocated to warrant liability |  |  | — |  |  |  | (580,000 | ) |  |  | (580,000 | )
Loss before provision for income taxes |  |  | (30,155 | ) |  |  | (399,000 | ) |  |  | (429,155 | )
Net loss |  |  | (30,155 | ) |  |  | (399,000 | ) |  |  | (429,155 | )
Basic and diluted net loss per share: |  |  |  |  |  |  |  |  |  |  |  |
Class B common stock |  |  | (0.01 | ) |  |  | (0.06 | ) |  |  | (0.07 | )
Statement of operations for the Period from June 23, 2020 (inception) to September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of warrant liability |  |  | — |  |  |  | 181,000 |  |  |  | 181,000 |
Transaction costs allocated to warrant liability |  |  | — |  |  |  | (580,000 | ) |  |  | (580,000 | )
Loss before provision for income taxes |  |  | (30,155 | ) |  |  | (399,000 | ) |  |  | (429,155 | )
Net loss |  |  | (30,155 | ) |  |  | (399,000 | ) |  |  | (429,155 | )
Basic and diluted net loss per share: |  |  |  |  |  |  |  |  |  |  |  |
Class B common stock |  |  | (0.01 | ) |  |  | (0.06 | ) |  |  | (0.07 | )
Statement of operations for the Period from June 23, 2020 (inception) to December 31, 2020 (audited) |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of warrant liability |  |  | — |  |  |  | (7,240,000 | ) |  |  | (7,240,000 | )
Transaction costs allocated to warrant liability |  |  | — |  |  |  | (580,000 | ) |  |  | (580,000 | )
Net loss |  |  | (427,187 | ) |  |  | (7,820,000 | ) |  |  | (8,247,187 | )
Basic and diluted net loss per share: |  |  |  |  |  |  |  |  |  |  |  |
Class B common stock |  |  | (0.08 | ) |  |  | (1.43 | ) |  |  | (1.51 | )
Cash flow statement for the period from June 23, 2020 (inception) to September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  |  | (30,155 | ) |  |  | (399,000 | ) |  |  | (429,155 | )
Change in fair value of warrant liability |  |  | — |  |  |  | (181,000 | ) |  |  | (181,000 | )
Transaction costs allocated to warrant liability |  |  | — |  |  |  | 580,000 |  |  |  | 580,000 |
Net cash used in operating activities |  |  | (24,003 | ) |  |  | — |  |  |  | (24,003 | )
Cash flow statement for the period from June 23, 2020 (inception) to December 31, 2020 (audited) |  |  |  |  |  |  |  |  |
Net loss |  |  | (427,187 | ) |  |  | (7,820,000 | ) |  |  | (8,247,187 | )
Change in fair value of warrant liability |  |  | — |  |  |  | 7,240,000 |  |  |  | 7,240,000 |
Transaction costs allocated to warrant liability |  |  | — |  |  |  | 580,000 |  |  |  | 580,000 |
Net cash used in operating activities |  |  | (455,960 | ) |  |  | — |  |  |  | (455,960 | )

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