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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 Third Restatement on each financial statement line item

   

As Reported Per

    

​    

    

    

     

Amendment #2

     

Adjustment

     

As Restated

Balance Sheet as of June 19, 2020

Additional paid-in capital

 

$

591,876

$

(591,876)

$

Accumulated deficit

 

 

(53,396,448)

 

591,876

 

(52,804,572)

 

 

 

 

Balance Sheet as of June 30, 2020

 

 

  

 

  

 

  

Additional paid-in capital

 

 

591,876

 

(591,876)

 

Accumulated deficit

 

 

(60,499,085)

 

591,876

 

(59,907,209)

 

 

 

 

Balance Sheet as of September 30, 2020

 

 

  

 

  

 

  

Additional paid-in capital

 

 

591,876

 

(591,876)

 

Accumulated deficit

 

 

(61,442,856)

 

591,876

 

(60,850,980)

 

 

 

 

Balance Sheet as of December 31, 2020

 

 

  

 

  

 

  

Class A ordinary shares subject to possible redemption

 

$

511,622,540

$

5,877,460

$

517,500,000

Class A ordinary shares

 

$

59

$

(59)

$

Additional paid-in capital

 

$

6,724,439

$

(6,724,439)

$

Accumulated deficit

 

$

(82,180,324)

$

847,038

$

(81,333,286)

Total Shareholders’ Deficit

 

$

(75,454,532)

$

(5,877,460)

$

(81,331,992)

Statement of Operations for the Period from February 11, 2020 (Inception) through June 30, 2020

Weighted average shares outstanding, Class A ordinary shares

 

51,750,000

 

(47,683,929)

 

4,066,071

Basic and diluted net loss per ordinary share, Class A ordinary shares

 

$

$

(0.55)

$

(0.55)

Weighted average shares outstanding, Class B ordinary shares

 

 

11,389,568

 

(6,979)

 

11,382,589

Basic and diluted net loss per ordinary share, Class B ordinary shares

 

$

(0.74)

$

0.19

$

(0.55)

 

 

 

 

Statement of Operations for the Three Months Ended June 30, 2020

 

 

  

 

  

 

  

Weighted average shares outstanding, Class A ordinary shares

 

 

51,750,000

 

(45,494,505)

 

6,255,495

Basic and diluted net loss per ordinary share, Class A ordinary shares

 

$

$

(0.48)

$

(0.48)

Basic and diluted net loss per ordinary share, Class B ordinary shares

 

$

(0.74)

$

0.26

$

(0.48)

 

 

 

 

Statement of Operations for the Period from February 11, 2020 (Inception) through September 30, 2020

 

 

  

 

  

 

  

Weighted average shares outstanding, Class A ordinary shares

 

 

51,750,000

 

(28,774,784)

 

22,975,216

Basic and diluted net loss per ordinary share, Class A ordinary shares

 

$

$

(0.27)

$

(0.27)

Weighted average shares outstanding, Class B ordinary shares

 

 

12,022,500

 

(23,308)

 

11,999,192

Basic and diluted net loss per ordinary share, Class B ordinary shares

 

$

(0.78)

$

0.51

$

(0.27)

Statement of Operations for the Three Months Ended September 30, 2020

Weighted average shares outstanding, Class A ordinary shares

51,750,000

51,750,000

Basic and diluted net loss per ordinary share, Class A ordinary shares

 

$

(0.00)

$

(0.01)

$

(0.01)

Basic and diluted net loss per ordinary share, Class B ordinary shares

 

$

(0.07)

$

0.06

$

(0.01)

 

 

 

 

Statement of Operations for the Period from February 11, 2020 (Inception) through December 31, 2020 (audited)

 

 

  

 

  

 

  

Weighted average shares outstanding, Class A ordinary shares

 

 

51,750,000

 

(20,604,167)

 

31,145,833

Basic and diluted net loss per ordinary share, Class A ordinary shares

 

$

$

(0.69)

$

(0.69)

Weighted average shares outstanding, Class B ordinary shares

 

 

12,288,052

 

(22,427)

 

12,265,625

Basic and diluted net loss per ordinary share, Class B ordinary shares

 

$

(2.43)

$

1.74

$

(0.69)

Statement of Changes in Shareholders' Equity (Deficit) for the Three Months Ended June  30,  2020

     

    

     

    

     

    

Offering costs allocated to equity in connection with Initial Public Offering

 

(27,860,038)

 

27,860,038

Initial Classification of Public Warrants

 

(24,150,000)

 

24,150,000

Initial Classification of FPA Liability

 

(255,538)

 

255,538

Accretion of Class A ordinary shares to redemption value

 

 

(52,265,576)

(52,265,576)

Total Shareholders’ deficit

 

(59,905,915)

 

(59,905,915)

Statement of Changes in Shareholders’ Equity (Deficit) for the Three Months Ended December 31,2020

Change in value of ordinary shares subject to possible redemption

5,877,460

(5,877,460)

Total Shareholders’ deficit

(75,454,532)

(5,877,460)

(81,331,992)

Statement of Cash Flows for the Period from February 11, 2020 (Inception) through December 31, 2020 (audited)

    

    

    

    

Change in Class A ordinary shares subject to possible redemption

(5,877,460)

 

5,877,460