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v3.21.2

Description of Organization, Business Operations and Basis of Presentation (Tables) | 11 Months Ended
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Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Impact of the Restatement | The impact of the restatement on the balance sheets, statements of operations and statements of cash flows for the Affected Periods is presented below. The restatement had no impact on net cash flows from operating, investing or financing activities.
|  |  |  |  | As of December 31, 2020 |  |
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Balance Sheet |  |  |  |  |  |
Total assets |  | $ | 415,400,119 |  |  | $ | — |  |  | $ | 415,400,119 |
Liabilities and shareholders’ equity |  |  |  |  |  |
Total current liabilities |  | $ | 143,016 |  |  | $ | — |  |  | $ | 143,016 |
Deferred legal fees |  | — |  |  | — |  |  | — |
Deferred underwriting commissions |  | 14,490,000 |  |  | — |  |  | 14,490,000 |
Derivative warrant liabilities |  | — |  |  | 53,801,110 |  |  | 53,801,110 |
Total liabilities |  | 14,633,016 |  |  | $ | 53,801,110 |  |  | 68,434,126 |
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption |  | 395,767,100 |  |  | (53,801,110) |  |  | 341,965,990 |
Shareholders’ equity |  |  |  |  |  |
Preference shares - $0.0001 par value |  | — |  |  | — |  |  | — |
Class A ordinary shares - $0.0001 par value |  | 182 |  | 538 |  | 720
Class B ordinary shares - $0.0001 par value |  | 1,035 |  |  | — |  |  | 1,035 |
Additional paid-in-capital |  | 5,139,066 |  |  | 29,488,822 |  |  | 34,627,888 |
Accumulated deficit |  | (140,280) |  |  | (29,489,360) |  |  | (29,629,640) |
Total shareholders’ equity |  | 5,000,003 |  |  | — |  |  | 5,000,003 |
Total liabilities and shareholders’ equity |  | $ | 415,400,119 |  |  | $ | — |  |  | $ | 415,400,119 |
|  |  | Period From February 11, 2020 (Inception) Through December 31, 2020
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Statement of Operations |  |  |  |  |  |
Loss from operations |  | $ | (349,873) |  |  | $ | — |  |  | $ | (349,873) |
Other (expense) income |  |  |  |  |  |
Change in fair value of derivative warrant liabilities |  | — |  |  | (28,525,220) |  |  | (28,525,220) |
Financing costs allocated to derivative warrant liabilities |  | — |  |  | (964,140) |  |  | (964,140) |
Interest earned on investments held in Trust Account |  | 209,593 |  |  | — |  |  | 209,593 |
Total other (expense) income |  | 209,593 |  |  | (29,489,360) |  |  | (29,279,767) |
Net loss |  | $ | (140,280) |  |  | $ | (29,489,360) |  |  | $ | (29,629,640) |
Basic and Diluted weighted-average Class A ordinary shares outstanding |  | 41,400,000 |  |  | — |  |  | $ | 41,400,000 |
Basic and Diluted net loss per Class A shares |  | $ | 0.01 |  |  | — |  |  | $ | 0.01 |
Basic and Diluted weighted-average Class B ordinary shares outstanding |  | 10,350,000 |  |  | — |  |  | 10,350,000 |
Basic and Diluted net loss per Class B share |  | $ | (0.03) |  |  | $ | (2.85) |  |  | $ | (2.88) |
|  |  | Period From February 11, 2020 (Inception) Through December 31, 2020
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Statement of Cash Flows |  |  |  |  |  |
Net Loss |  | (140,280) |  |  | (29,489,360) |  |  | (29,629,640) |
Change in fair value of derivative warrant liabilities |  | — |  |  | 28,525,220 |  |  | 28,525,220 |
Financing costs allocated to derivative warrant liabilities |  | — |  |  | 964,140 |  |  | 964,140 |
Net cash used in operating activities |  | (592,406) |  |  | — |  |  | (592,406) |
Net cash used in investing activities |  | (414,000,000) |  |  | — |  |  | (414,000,000) |
Net cash provided by financing activities |  | 415,454,160 |  |  | — |  |  | 415,454,160 |
Net change in cash |  | $ | 861,754 |  |  | $ | — |  |  | $ | 861,754 |
|  |  |  |  | As of September 30, 2020 |  |
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Unaudited Condensed Balance Sheet |  |  |  |  |  |
Total assets |  | $ | 415,422,378 |  |  | $ | — |  |  | $ | 415,422,378 |
Liabilities and shareholders’ equity |  |  |  |  |  |
Total current liabilities |  | $ | 115,692 |  |  | $ | — |  |  | $ | 115,692 |
Deferred underwriting commissions |  | 14,490,000 |  |  | — |  |  | 14,490,000 |
Derivative warrant liabilities |  | — |  |  | 46,451,340 |  |  | 46,451,340 |
Total liabilities |  | 14,605,692 |  |  | $ | 46,451,340 |  |  | 61,057,032 |
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption |  | 395,816,680 |  |  | (46,451,340) |  |  | 349,365,340 |
Shareholders’ equity |  |  |  |  |  |
Preference shares - $0.0001 par value |  | — |  |  | — |  |  | — |
Class A ordinary shares - $0.0001 par value |  | 182 |  | 503 |  | 685
Class B ordinary shares - $0.0001 par value |  | 1,035 |  |  | — |  |  | 1,035 |
Additional paid-in-capital |  | 5,089,486 |  |  | 22,139,097 |  |  | 27,228,583 |
Accumulated deficit |  | (90,697) |  |  | (22,139,590) |  |  | (22,230,287) |
Total shareholders’ equity |  | 5,000,006 |  |  | — |  |  | 5,000,006 |
Total liabilities and shareholders’ equity |  | $ | 415,422,378 |  |  | $ | — |  |  | $ | 415,422,378 |
|  |  | Three Months Ended September 30, 2020
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Unaudited Condensed Statement of Operations |  |  |  |  |  |
Loss from operations |  | $ | (134,386) |  |  | $ | — |  |  | $ | (134,386) |
Other (expense) income |  |  |  |  |  |
Change in fair value of derivative warrant liabilities |  | — |  |  | (21,175,450) |  |  | (21,175,460) |
Financing costs |  | — |  |  | (964,140) |  |  | (964,140) |
Interest earned on investments held in Trust Account |  | 89,468 |  |  | — |  |  | 89,468 |
Total other (expense) income |  | 89,468 |  |  | (22,139,590) |  |  | (22,050,122) |
Net loss |  | $ | (44,918) |  |  | $ | (22,139,590) |  |  | $ | (22,184,508) |
Basic and Diluted weighted-average Class A ordinary shares outstanding |  | 41,400,000 |  |  | — |  |  | $ | 41,400,000 |
Basic and Diluted net loss per Class A share |  | $ | — |  |  | — |  |  | $ | — |
Basic and Diluted weighted-average Class B ordinary shares outstanding |  | 10,350,000 |  |  | — |  |  | 10,350,000 |
Basic and Diluted net loss per Class B share |  | $ | (0.01) |  |  | $ | (2.14) |  |  | $ | (2.15) |
|  |  | Period From February 11, 2020 (Inception) Through September 30, 2020
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Unaudited Condensed Statement of Operations |  |  |  |  |  |
Loss from operations |  | $ | (180,165) |  |  | $ | — |  |  | $ | (180,165) |
Other (expense) income |  |  |  |  |  |
Change in fair value of warrant liabilities |  | — |  |  | (21,175,450) |  |  | (21,175,450) |
Financing costs |  | — |  |  | (964,140) |  |  | (964,140) |
Interest earned on investments held in Trust Account |  | 89,468 |  |  | — |  |  | 89,468 |
Total other (expense) income |  | 89,468 |  |  | (22,139,590) |  |  | (22,050,122) |
Net loss |  | $ | (90,697) |  |  | $ | (22,139,590) |  |  | $ | (22,230,287) |
Basic and Diluted weighted-average Class A ordinary shares outstanding |  | 41,400,000 |  |  | — |  |  | $ | 41,400,000 |
Basic and Diluted net loss per Class A share |  | $ | — |  |  | — |  |  | $ | — |
Basic and Diluted weighted-average Class B ordinary shares outstanding |  | 10,350,000 |  |  | — |  |  | 10,350,000 |
Basic and Diluted net loss per Class B share |  | $ | (0.02) |  |  | $ | (2.14) |  |  | $ | (2.16) |
|  |  | Period From February 11, 2020 (Inception) Through September 30, 2020
|  |  | As Previously Reported |  | Restatement Adjustment |  | As Restated
Unaudited Condensed Statement of Cash Flows |  |  |  |  |  |
Net Loss |  | (90,697) |  |  | (22,139,590) |  |  | (22,230,287) |
Change in fair value of derivative warrant liabilities |  | — |  |  | 21,175,450 |  |  | 21,175,450 |
Financing costs allocated to derivative warrant liabilities |  | — |  |  | 964,140 |  |  | 964,140 |
Net cash used in operating activities |  | (501,937) |  |  | — |  |  | (501,937) |
Net cash used in investing activities |  | (414,000,000) |  |  | — |  |  | (414,000,000) |
Net cash provided by financing activities |  | 415,454,160 |  |  | — |  |  | 415,454,160 |
Net change in cash |  | $ | 952,223 |  |  | $ | — |  |  | $ | 952,223 |

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- Definition Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued. + References Reference 1: 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 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 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 + Details
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