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CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables) | 11 Months Ended
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Dec. 31, 2020
CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS |
Summary of the effect of the Restatement on each financial statement line item |
Statement of Changes in Shareholders' Equity (Deficit) |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Class A Shares |  | 863 |  | 59 |  | (804)
Additional Paid-In Capital |  | 34,912,594 |  | 6,724,439 |  | (28,188,155)
Accumulated Deficit |  | (29,914,748) |  | (82,180,324) |  | (52,265,576)
Shareholders' Equity (Deficit) |  | 5,000,003 |  | (75,454,532) |  | (80,454,535)
Statement of Operations |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Weighted Average Shares Outstanding |  | 16,283,431 |  | 12,288,052 |  | (3,995,379)
Basic and diluted net loss per ordinary share |  | (1.84) |  | (2.43) |  | (0.59)
Balance Sheet |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Class A Ordinary Shares subject to possible redemption |  | 431,168,005 |  | 511,622,540 |  | 80,454,535
Class A Ordinary Shares |  | 863 |  | 59 |  | (804)
Additional Paid-In Capital |  | 34,912,594 |  | 6,724,439 |  | (28,188,155)
Retained Earnings/(Accumulated Deficit) |  | (29,914,748) |  | (82,180,324) |  | (52,265,576)
Total Shareholders' Equity (Deficit) |  | 5,000,003 |  | (75,454,532) |  | (80,454,535)
Cash Flow Statement |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Initial classification of Class A ordinary shares subject to possible redemption |  | 459,696,714 |  | 517,500,000 |  | 57,803,286
Change in value of Class A ordinary shares subject to possible redemption |  | (21,426,075) |  | (5,877,460) |  | 15,548,615
Year to Date and at 09/30/20
Statement of Changes in Shareholders' Equity (Deficit) |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Additional Paid-In Capital |  | 14,430,500 |  | 591,876 |  | (13,838,624)
Accumulated Deficit |  | (29,914,748) |  | (61,442,856) |  | (31,528,108)
Shareholders' Equity (Deficit) |  | 5,000,003 |  | (60,849,686) |  | (65,849,689)
Statement of Operations |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Weighted Average Shares Outstanding |  | 14,959,025 |  | 12,022,500 |  | (2,936,525)
Basic and diluted net loss per ordinary share |  | (0.63) |  | (0.78) |  | (0.15)
Balance Sheet |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Class A Ordinary Shares subject to possible redemption |  | 451,650,304 |  | 517,500,000 |  | 65,849,696
Class A Ordinary Shares |  | 658 |  | — |  | (658)
Additional Paid-In Capital |  | 14,430,500 |  | 591,876 |  | (13,838,624)
Retained Earnings/(Accumulated Deficit) |  | (9,432,442) |  | (61,442,856) |  | (52,010,414)
Total Shareholders' Equity (Deficit) |  | 5,000,003 |  | (60,849,686) |  | (65,849,689)
Cash Flow Statement |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Initial classification of Class A ordinary shares subject to possible redemption |  | 459,696,714 |  | 517,500,000 |  | 57,803,286
Change in value of Class A ordinary shares subject to possible redemption |  | (21,426,075) |  | — |  | 21,426,075
Three Months Ended 09/30/20
Statement of Operations |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Weighted Average Shares Outstanding |  | 19,428,092 |  | 12,937,500 |  | (6,490,592)
Basic and diluted net loss per ordinary share |  | (0.05) |  | (0.07) |  | (0.02)
Year to Date and at 06/30/20
Statement of Changes in Shareholders' Equity (Deficit) |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Additional Paid-In Capital |  | 13,486,733 |  | 591,876 |  | (12,894,857)
Accumulated Deficit |  | (8,488,671) |  | (60,499,085) |  | (52,010,414)
Shareholders' Equity (Deficit) |  | 5,000,005 |  | (59,905,915) |  | (64,905,920)
Statement of Operations |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Weighted Average Shares Outstanding |  | 14,959,025 |  | 11,389,568 |  | (3,569,457)
Basic and diluted net loss per ordinary share |  | (0.63) |  | (0.75) |  | (0.12)
Balance Sheet |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Class A Ordinary Shares subject to possible redemption |  | 452,594,080 |  | 517,500,000 |  | 64,905,920
Class A Ordinary Shares |  | 649 |  | — |  | (649)
Additional Paid-In Capital |  | 13,486,733 |  | 591,876 |  | (12,894,857)
Retained Earnings/(Accumulated Deficit) |  | (8,488,671) |  | (60,499,085) |  | (52,010,414)
Total Shareholders' Equity (Deficit) |  | 5,000,005 |  | (59,905,915) |  | (64,905,920)
Cash Flow Statement |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Initial classification of Class A ordinary shares subject to possible redemption |  | 459,696,714 |  | 517,500,000 |  | 57,803,286
Change in value of Class A ordinary shares subject to possible redemption |  | (21,426,075) |  | — |  | 21,426,075
Three Months Ended 06/30/20
Statement of Operations |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Weighted Average Shares Outstanding |  | 19,428,092 |  | 11,453,984 |  | (7,974,108)
Basic and diluted net loss per ordinary share |  | (0.05) |  | (0.74) |  | (0.69)
06/19/20 - IPO Closing Including Over-Allotment and Upsize
Balance Sheet |  | As Reported |  |  |  |
|  | per Amendment #1 |  | As Restated |  | Difference
Class A Ordinary Shares subject to possible redemption |  | 459,696,714 |  | 517,500,000 |  | 57,803,286
Class A Ordinary Shares |  | 578 |  | — |  | (578)
Additional Paid-In Capital |  | 6,384,170 |  | 591,876 |  | (5,792,294)
Retained Earnings/(Accumulated Deficit) |  | (1,386,034) |  | (53,396,448) |  | (52,010,414)
Total Shareholders' Equity (Deficit) |  | 5,000,008 |  | (52,803,278) |  | (57,803,286)

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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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