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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 |
Schedule of impact of the restatement on financial statements |
|  | As |  |  |  |  |  |
|  | Previously |  |  |  |  | As
|  | Reported |  | Adjustments |  | Restated
Balance sheet as of July 1, 2019 (audited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 21,509,982 |  | $ | 38,110,000 |  | $ | 59,619,982
Class A Common Stock Subject to Possible Redemption |  |  | 666,500,190 |  |  | (38,110,000) |  |  | 628,390,190
Class A Common Stock |  |  | 235 |  |  | 381 |  |  | 616
Additional Paid-in Capital |  |  | 5,003,043 |  |  | 1,125,253 |  |  | 6,128,296
Accumulated Deficit |  |  | (5,000) |  |  | (1,125,634) |  |  | (1,130,634)
Total Stockholders’ Equity |  |  | 5,000,003 |  |  | — |  |  | 5,000,003
Number of Class A common stock subject to redemption |  |  | 66,650,019 |  |  | (3,811,000) |  |  | 62,839,019
Balance sheet as of September 30, 2019 (unaudited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 21,438,614 |  | $ | 55,988,000 |  | $ | 77,426,614
Class A Common Stock Subject to Possible Redemption |  |  | 669,011,539 |  |  | (55,988,000) |  |  | 613,023,539
Class A Common Stock |  |  | 233 |  |  | 558 |  |  | 791
Additional Paid-in Capital |  |  | 2,491,696 |  |  | 19,003,076 |  |  | 21,494,772
Retained Earnings (Accumulated Deficit) |  |  | 2,506,354 |  |  | (19,003,634) |  |  | (16,497,280)
Total Stockholders’ Equity |  |  | 5,000,008 |  |  | — |  |  | 5,000,008
Number of Class A common stock subject to redemption |  |  | 66,673,530 |  |  | (5,579,751) |  |  | 61,093,779
Balance sheet as of December 31, 2019 (audited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 21,638,123 |  | $ | 56,360,000 |  | $ | 77,998,123
Class A Common Stock Subject to Possible Redemption |  |  | 671,198,229 |  |  | (56,360,000) |  |  | 614,838,229
Class A Common Stock |  |  | 238 |  |  | 559 |  |  | 797
Additional Paid-in Capital |  |  | 305,001 |  |  | 19,375,075 |  |  | 19,680,076
Retained Earnings (Accumulated Deficit) |  |  | 4,693,042 |  |  | (19,375,634) |  |  | (14,682,592)
Total Stockholders’ Equity |  |  | 5,000,006 |  |  | — |  |  | 5,000,006
Number of Class A common stock subject to redemption |  |  | 66,619,951 |  |  | (5,594,026) |  |  | 61,025,925
Balance sheet as of March 31, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 21,805,994 |  | $ | 66,706,000 |  | $ | 88,511,994
Class A Common Stock Subject to Possible Redemption |  |  | 672,720,712 |  |  | (66,706,000) |  |  | 606,014,712
Class A Common Stock |  |  | 240 |  |  | 660 |  |  | 900
Additional Paid-in Capital |  |  | — |  |  | 28,503,490 |  |  | 28,503,490
Retained Earnings (Accumulated Deficit) |  |  | 4,998,044 |  |  | (28,504,150) |  |  | (23,506,106)
Total Stockholders’ Equity |  |  | 5,000,009 |  |  | — |  |  | 5,000,009
Number of Class A common stock subject to redemption |  |  | 66,602,417 |  |  | (6,604,198) |  |  | 59,998,219
Balance sheet as of June 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 21,739,976 |  | $ | 111,342,000 |  | $ | 133,081,976
Class A Common Stock Subject to Possible Redemption |  |  | 672,594,363 |  |  | (111,342,000) |  |  | 561,252,363
Class A Common Stock |  |  | 242 |  |  | 1,102 |  |  | 1,344
Additional Paid-in Capital |  |  | 126,347 |  |  | 73,139,048 |  |  | 73,265,395
Retained Earnings (Accumulated Deficit) |  |  | 4,871,691 |  |  | (73,140,150) |  |  | (68,268,459)
Total Stockholders’ Equity |  |  | 5,000,005 |  |  | — |  |  | 5,000,005
Number of Class A common stock subject to redemption |  |  | 66,584,915 |  |  | (11,022,539) |  |  | 55,562,376
Balance sheet as of September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 21,689,446 |  | $ | 83,004,000 |  | $ | 104,693,446
Class A Common Stock Subject to Possible Redemption |  |  | 672,501,414 |  |  | (83,004,000) |  |  | 589,497,414
Class A Common Stock |  |  | 244 |  |  | 821 |  |  | 1,065
Additional Paid-in Capital |  |  | 219,294 |  |  | 44,801,329 |  |  | 45,020,623
Retained Earnings (Accumulated Deficit) |  |  | 4,778,742 |  |  | (44,802,150) |  |  | (40,023,408)
Total Stockholders’ Equity |  |  | 5,000,005 |  |  | — |  |  | 5,000,005
Number of Class A common stock subject to redemption |  |  | 66,563,478 |  |  | (8,215,648) |  |  | 58,347,830
|  | As |  |  |  |  |  |
|  | Previously |  |  |  |  | As
|  | Reported |  | Adjustments |  | Restated
Balance sheet as of December 31, 2020 (audited) |  |  |  |  |  |  |  |  |
Total Liabilities |  | $ | 23,602,761 |  | $ | 129,943,549 |  | $ | 153,546,310
Class A Common Stock Subject to Possible Redemption |  |  | 672,322,591 |  |  | (129,943,551) |  |  | 542,379,040
Class A Common Stock |  |  | 242 |  |  | 1,287 |  |  | 1,529
Additional Paid-in Capital |  |  | 398,119 |  |  | 91,740,414 |  |  | 92,138,533
Retained Earnings (Accumulated Deficit) |  |  | 4,599,922 |  |  | (91,741,699) |  |  | (87,141,777)
Total Stockholders’ Equity |  |  | 5,000,008 |  |  | 2 |  |  | 5,000,010
Number of Class A common stock subject to redemption |  |  | 66,580,981 |  |  | (12,868,479) |  |  | 53,712,502
Statement of Operations for the three months ended September 30, 2019 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 2,507,354 |  | $ | (19,003,634) |  | $ | (16,496,280)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,650,019 |  |  | (3,811,000) |  |  | 62,839,019
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.04 |  |  | — |  |  | 0.04
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,549,981 |  |  | 3,769,576 |  |  | 23,319,557
Basic and diluted net loss per share, Non-redeemable common stock |  |  | 0.00 |  |  | (0.81) |  |  | (0.81)
Statement of Operations for the period from April 11, 2019 (inception) to September 30, 2019 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 2,506,354 |  | $ | (19,003,634) |  | $ | (16,497,280)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,650,019 |  |  | (3,811,000) |  |  | 62,839,019
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.04 |  |  | — |  |  | 0.04
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 17,433,711 |  |  | 2,016,285 |  |  | 19,449,996
Basic and diluted net loss per share, Non-redeemable common stock |  |  | 0.00 |  |  | (0.98) |  |  | (0.98)
Statement of Operations for the period from April 11, 2019 (inception) to December 31, 2019 (audited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 4,693,042 |  | $ | (19,375,634) |  | $ | (14,682,592)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,661,839 |  |  | (4,700,208) |  |  | 61,961,631
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.07 |  |  | 0.01 |  |  | 0.08
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 18,180,430 |  |  | 3,258,099 |  |  | 21,438,529
Basic and diluted net loss per share, Non-redeemable common stock |  |  | (0.01) |  |  | (0.90) |  |  | (0.91)
Statement of Operations for the three months ended March 31, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,522,486 |  | $ | (10,346,000) |  | $ | (8,823,514)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,619,951 |  |  | (5,594,026) |  |  | 61,025,925
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.02 |  |  | — |  |  | 0.02
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,630,049 |  |  | 5,594,026 |  |  | 25,224,075
Basic and diluted net loss per share, Non-redeemable common stock |  |  | 0.00 |  |  | (0.41) |  |  | (0.41)
Statement of Operations for the three months ended June 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net loss |  | $ | (126,353) |  | $ | (44,636,000) |  | $ | (44,762,353)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,585,251 |  |  | (6,587,032) |  |  | 59,998,219
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.00 |  |  | — |  |  | 0.00
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,664,749 |  |  | 6,587,032 |  |  | 26,251,781
Basic and diluted net loss per share, Non-redeemable common stock |  |  | (0.01) |  |  | (1.70) |  |  | (1.71)
Statement of Operations for the six months ended June 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,396,133 |  | $ | (54,982,000) |  | $ | (53,585,867)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,602,601 |  |  | (6,090,529) |  |  | 60,512,072
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.02 |  |  | 0.01 |  |  | 0.03
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,647,399 |  |  | 6,090,529 |  |  | 25,737,928
Basic and diluted net loss per share, Non-redeemable common stock |  |  | (0.01) |  |  | (2.13) |  |  | (2.14)
Statement of Operations for the three months ended September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (92,949) |  | $ | 28,338,000 |  | $ | 28,245,051
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,563,636 |  |  | (11,001,260) |  |  | 55,562,376
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.00 |  |  | — |  |  | 0.00
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,686,364 |  |  | 11,001,260 |  |  | 30,687,624
Basic and diluted net loss per share, Non-redeemable common stock |  |  | 0.00 |  |  | 0.92 |  |  | 0.92
Statement of Operations for the nine months ended September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,303,184 |  | $ | (26,644,000) |  | $ | (25,340,816)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,589,518 |  |  | (7,739,388) |  |  | 58,850,130
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.02 |  |  | 0.01 |  |  | 0.03
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,660,482 |  |  | 7,739,388 |  |  | 27,399,870
Basic and diluted net loss per share, Non-redeemable common stock |  |  | (0.02) |  |  | (0.96) |  |  | (0.98)
Statement of Operations for the year ended December 31, 2020 (audited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,124,364 |  | $ | (73,583,549) |  | $ | (72,459,185)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |  |  | 66,592,589 |  |  | (7,868,720) |  |  | 58,723,869
Basic and diluted net income per share, Class A common stock subject to possible redemption |  |  | 0.02 |  |  | 0.01 |  |  | 0.03
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |  |  | 19,657,411 |  |  | 7,868,720 |  |  | 27,526,131
Basic and diluted net loss per share, Non-redeemable common stock |  |  | (0.02) |  |  | (2.67) |  |  | (2.68)
|  | As |  |  |  |  |  |
|  | Previously |  |  |  |  | As
|  | Reported |  | Adjustments |  | Restated
Statement of Cash Flows for the period from April 11, 2019 (inception) to September 30, 2019 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 2,506,354 |  | $ | (19,003,634) |  | $ | (16,497,280)
Transaction costs attributable to the Initial Public Offering |  |  | — |  |  | (1,125,634) |  |  | (1,125,634)
Loss on Derivative Liabilities |  |  | — |  |  | (17,878,000) |  |  | (17,878,000)
Initial classification of Class A common stock subject to redemption |  |  | 666,500,190 |  |  | (38,110,000) |  |  | 628,390,190
Change in value of Class A common stock subject to possible redemption |  |  | 2,511,349 |  |  | (17,878,000) |  |  | (15,366,651)
Statement of Cash Flows for the period from April 11, 2019 (inception) to December 31, 2019 (audited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 4,693,042 |  | $ | (19,375,634) |  | $ | (14,682,592)
Transaction costs attributable to the Initial Public Offering |  |  | — |  |  | (1,125,634) |  |  | (1,125,634)
Loss on Derivative Liabilities |  |  | — |  |  | (18,250,000) |  |  | (18,250,000)
Initial classification of Class A common stock subject to redemption |  |  | 666,500,190 |  |  | (38,110,000) |  |  | 628,390,190
Change in value of Class A common stock subject to possible redemption |  |  | 4,698,039 |  |  | (18,250,000) |  |  | (13,551,961)
Statement of Cash Flows for the three months ended March 31, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,522,486 |  | $ | (10,346,000) |  | $ | (8,823,514)
Loss on Derivative Liabilities |  |  | — |  |  | (10,346,000) |  |  | (10,346,000)
Change in value of Class A common stock subject to possible redemption |  |  | 1,522,483 |  |  | (10,346,000) |  |  | (8,823,517)
Statement of Cash Flows for the six months ended June 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,396,133 |  | $ | (54,982,000) |  | $ | (53,585,867)
Loss on Derivative Liabilities |  |  | — |  |  | (54,982,000) |  |  | (54,982,000)
Change in value of Class A common stock subject to possible redemption |  |  | 1,396,134 |  |  | (54,982,000) |  |  | (53,585,866)
Statement of Cash Flows for the nine months ended September 30, 2020 (unaudited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,303,184 |  | $ | (26,644,000) |  | $ | (25,340,816)
Loss on Derivative Liabilities |  |  | — |  |  | (26,644,000) |  |  | (26,644,000)
Change in value of Class A common stock subject to possible redemption |  |  | 1,303,185 |  |  | (26,644,000) |  |  | (25,340,815)
Statement of Cash Flows for the year ended December 31, 2020 (audited) |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,124,364 |  | $ | (73,583,549) |  | $ | (72,459,185)
Loss on Derivative Liabilities |  |  | — |  |  | (73,583,549) |  |  | (73,583,549)
Change in value of Class A common stock subject to possible redemption |  |  | 1,124,362 |  |  | (73,583,551) |  |  | (72,459,189)

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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