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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

4 Months Ended

Dec. 31, 2020

Restatement [Abstract]

Summary of restatement of previously issued financial statements

The Company’s accounting for the warrants as components of equity instead of as derivative liabilities did not have any effect on the Company’s previously reported operating expenses, cash or investments held in the trust account.

		As
		Previously								As
		Reported				Adjustments				Restated
Balance sheet as of November 23, 2020 (audited)
Warrant Liability		$	—			$	1,598,233			$	1,598,233
Total Liabilities			3,167,722				1,598,233				4,765,955
Ordinary Shares Subject to Possible Redemption			74,121,170				(1,598,233	)			72,522,937
Class A Ordinary Shares			100				18				118
Additional Paid-in Capital			5,004,636				107,501				5,112,137
Accumulated Deficit			(4,961	)			(107,519	)			(112,480	)
Balance sheet as of December 31, 2020 (audited)
Warrant Liability		$	—			$	3,404,014			$	3,404,014
Total Liabilities			3,510,148				3,404,014				6,914,162
Ordinary Shares Subject to Possible Redemption			85,264,880				(3,404,020	)			81,860,860
Class A Ordinary Shares			111				34				145
Additional Paid-in Capital			5,440,915				1,681,045				7,121,960
Accumulated Deficit			(441,255	)			(1,681,073	)			(2,122,328	)
Shareholders’ Equity			5,000,001				6				5,000,007
Period from August 20, 2020 (inception) to December 31, 2020 (audited)
Change in fair value of warrant liability		$	—			$	1,573,554			$	1,573,554
Allocation of initial public offering costs			—				107,519				107,519
Net loss			(441,255	)			(1,681,073	)			(2,122,328	)
Weighted average shares outstanding of Class A redeemable ordinary shares			8,326,328				(144,993	)			8,181,335
Weighted average shares outstanding of Class B non-redeemable ordinary shares			2,414,403				46,692				2,461,095
Basic and diluted net loss per share, Class B			(0.18	)			(0.68	)			(0.86	)
Cash Flow Statement for the Period from August 20, 2020 (inception) to December 31, 2020 (audited)
Net loss		$	(441,255	)		$	(1,681,073	)		$	(2,122,328	)
Allocation of initial public offering costs			—				107,519				107,519
Change in fair value of warrant liability			—				1,573,554				1,573,554
Initial classification of warrant liability			—				1,830,460				1,830,460
Initial classification of common stock subject to possible redemption			74,121,170				(1,598,233	)			72,522,937
Change in value of common stock subject to possible redemption			(436,290	)			(1,993,560	)			(2,429,850	)

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- References

No definition available.

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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
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-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

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