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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

11 Months Ended

Dec. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of reconciliation of Class A ordinary shares reflected on the balance sheet

At December 31, 2020, the Class A ordinary shares reflected in the balance sheet are reconciled in the following table:

​	​	​	​
Gross proceeds		$	517,500,000
Less:	​
Proceeds allocated to Public Warrants	​		(24,150,000)
Class A ordinary shares issuance costs	​		(28,115,576)
Plus:	​
Accretion of carrying value to redemption value	​		52,265,576
​	​	​	​
Class A ordinary shares subject to possible redemption	​	$	517,500,000

Summary of calculation of basic and diluted net income (loss) per ordinary share

The following table reflects the calculation of basic and diluted net loss per ordinary share (in dollars, except per share amounts):

​	​	​	​	​	​	​
​	​	For the Period from
​	​	February 11,
​	​	2020 (Inception) Through
​	​	December 31, 2020
​		Class A			Class B
Basic and diluted net loss per ordinary share		​			​
Numerator:		​			​
Allocation of net loss	​	$	(21,462,531)	​	$	(8,452,217)
Denominator:	​			​
Basic and diluted weighted average shares outstanding	​		31,145,833	​		12,265,625
Basic and diluted net loss per ordinary share	​	$	(0.69)	​	$	(0.69)

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
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