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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
9 Months Ended
Sep. 30, 2021
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Summary of impact of the restatement on the financial statements

Balance Sheet as of March 31, 2021 (unaudited)

    

As Previously Reported

    

Adjustment

    

As Restated

 

Class A common stock subject to possible redemption

$

249,368,091

$

29,391,909

$

278,760,000

 

Class A common stock

$

291

$

(291)

$

Additional paid-in capital

$

3,173,795

$

(3,173,795)

$

Retained earnings

$

(1,825,231)

$

(26,217,823)

$

(24,392,592)

Total Stockholders’ Equity (Deficit)

$

5,000,007

$

(29,391,909)

$

(24,391,902)

Balance Sheet as of June 30, 2021 (unaudited)

As Previously Reported

Adjustment

As Restated

Class A common stock subject to possible redemption

$

244,473,833

$

34,286,167

$

278,760,000

Class A common stock

$

339

$

(339)

$

Additional paid-in capital

$

8,068,005

$

(8,068,005)

$

Retained earnings

$

(3,069,031)

$

(26,217,823)

$

(29,286,854)

Total Stockholders’ Equity (Deficit)

$

5,000,003

$

(34,286,167)

$

(29,286,164)

Statement of Operations for the Three Months Ended March 31, 2021 (unaudited)

As Previously Reported

Adjustment

As Restated

Basic and diluted weighted average shares outstanding, common stock subject to possible redemption

27,600,000

(27,600,000)

Basic and diluted net income per share, common stock subject to possible redemption

$

$

$

Basic and diluted weighted average shares outstanding, Non-redeemable common stock

6,900,000

(6,900,000)

Basic and diluted net income per share, Non-redeemable common stock

$

0.85

$

(0.85)

$

Basic and diluted weighted average shares outstanding, Class A common stock

27,600,000

27,600,000

Basic and diluted net income per share, Class A common stock

$

$

0.17

$

0.17

Basic and diluted weighted average shares outstanding, Class B common stock

6,900,000

(6,900,000)

Basic and diluted net income per share, Class B common stock

$

$

0.17

$

0.17

Statement of Operations for the Three Months Ended June 30, 2021 (unaudited)

As Previously Reported

Adjustment

As Restated

Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption

27,600,000

(27,600,000)

Basic and diluted net income per share, Common stock subject to possible redemption

$

$

$

Basic and diluted weighted average shares outstanding, Non-redeemable common stock

6,900,000

(6,900,000)

Basic and diluted net (cbgbhloss) per share, Non-redeemable common stock

$

(0.71)

$

0.71

$

Basic and diluted weighted average shares outstanding, Class A common stock

27,600,000

27,600,000

Basic and diluted net loss per share, Class A common stock

$

$

(0.14)

$

(0.14)

Basic and diluted weighted average shares outstanding, Class B common stock

6,900,000

6,900,000

Basic and diluted net loss per share, Class B common stock

$

$

(0.14)

$

(0.14)

Statement of Operations for the Six Months Ended June 30, 2021 (unaudited)

As Previously Reported

Adjustment

As Restated

Basic and diluted weighted average shares outstanding, common stock subject to possible redemption

27,600,000

(27,600,000)

Basic and diluted net income per share, common stock subject to possible redemption

$

$

$

Basic and diluted weighted average shares outstanding, Non-redeemable common stock

16,200,000

(16,200,000)

Basic and diluted net income per share, Non-redeemable common stock

$

0.06

$

(0.06)

$

Basic and diluted weighted average shares outstanding, Class A common stock

27,600,000

27,600,000

Basic and diluted net income per share, Class A common stock

$

$

0.03

$

0.03

Basic and diluted weighted average shares outstanding, Class B common stock

6,900,000

6,900,000

Basic and diluted net income per share, Class B common stock

$

$

0.03

$

0.03

Statement of Changes in Shareholders’ Equity (Deficit) for the Three Months Ended March 31, 2021 (unaudited)

As Previously Reported

Adjustment

As Restated

Change in value of Class A Common stock subject to possible redemption

$

(5,909,732)

$

5,909,732

$

Total Stockholders’ Equity (Deficit)

$

5,000,007

$

(29,391,909)

$

(24,391,902)

Statement of Changes in Shareholders’ Equity (Deficit) for the Three Months Ended June 30, 2021 (unaudited)

As Previously Reported

Adjustment

As Restated

Change in value of Class A Common stock subject to possible redemption

$

4,894,258

$

(4,894,258)

$

Total Stockholders’ Equity (Deficit)

$

5,000,003

$

(34,286,167)

$

(29,286,164)

Statement of Cash Flows for the Three Months Ended March 31, 2021 (unaudited)

Non-Cash investing and financial activities:

Change in value of Class A common stock subject to possible redemption

$

5,909,732

$

(5,909,732)

$

Statement of Cash Flows for the Three Months Ended June 30, 2021 (unaudited)

Non-Cash investing and financial activities:

Change in value of Class A common stock subject to possible redemption

$

1,015,474

$

(1,015,474)

$