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CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

11 Months Ended

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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- 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
-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

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