Restatement of Previously Issued Financial Statements (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Changes and Error Corrections [Abstract]

Schedule of Impact of Restatement on Financial Statements

The impact of the restatement on the balance sheets, statements of operations and statements of cash flows for the Affected Periods is presented below.


	As of December 31, 2020
	As Previously Reported			Restatement Adjustment			As Restated
Balance Sheet
Total assets	$	404,063,677		$	—		$	404,063,677

Liabilities and stockholders’ equity
Total current liabilities	$	320,025		$	—		$	320,025
Deferred legal fees		100,000			—			100,000
Deferred underwriting commissions		14,087,500			—			14,087,500
Derivative liabilities		—			49,674,170			49,674,170

Total liabilities		14,507,525			49,674,170			64,181,695
Class A common stock, $0.0001 par value; shares subject to possible redemption		384,556,150			(49,674,170	)		334,881,980
Stockholders’ equity
Preferred stock - $0.0001 par value		—			—			—
Class A common stock - $0.0001 par value		179			497			676
Class B common stock - $0.0001 par value		1,006			—			1,006
Additional paid-in-capital		5,215,685			25,163,513			30,379,198
Accumulated deficit		(216,868	)		(25,164,010	)		(25,380,878	)

Total stockholders’ equity		5,000,002			—			5,000,002
Total liabilities and stockholders’ equity	$	404,063,677		$	—		$	404,063,677


	Period From August 31, 2020 (Inception) Through December 31, 2020
	As Previously Reported			Restatement Adjustment			As Restated
Statement of Operations
Loss from operations	$	(290,641	)	$	—		$	(290,641	)
Other (expense) income:
Change in fair value of derivative liabilities		—			(24,193,170	)		(24,193,170	)
Financing costs - derivative liabilities		—			(970,840	)		(970,840	)
Net gain from investments held in Trust Account		78,522			—			78,522

Total other (expense) income		78,522			(25,164,010	)		(25,085,488	)

Loss before income tax expense		(212,119	)		(25,164,010	)		(25,376,129	)
Income tax expense		4,749			—			4,749
Net loss	$	(216,868	)	$	(25,164,010	)	$	(25,380,878	)

Basic and Diluted weighted-average Class A common shares subject to possible redemption outstanding		38,473,726			(2,582,662	)		35,891,064

Basic and Diluted net loss per Class A common shares subject to possible redemption	$	—		$	—		$	—

Basic and Diluted weighted-average non-redeemable Class A and Class B common shares outstanding		10,646,616			1,585,845			12,232,461

Basic and Diluted net loss per non-redeemable Class A and Class B common shares	$	(0.02	)	$	2.10		$	(2.08	)


	Period From August 31, 2020 (Inception) Through December 31, 2020
	As Previously Reported			Restatement Adjustment		As Restated
Statement of Cash Flows
Net cash used in operating activities		(491,670	)		—		(491,670	)
Net cash used in investing activities		(402,500,000	)		—		(402,500,000	)
Net cash provided by financing activities		404,071,303					404,071,303

Net change in cash	$	1,079,633		$	—	$	1,079,633