v3.21.1
Restatement of previously issued financial statements (Tables)
6 Months Ended
Dec. 31, 2020
Restatement of Previously Issued Financial Statements [Abstract]  
Summary of impact of the restatement on the balance sheets, statements of operations and statements of cash flows
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
  $415,340,439   $—     $415,340,439 
   
 
 
   
 
 
   
 
 
 
Liabilities and stockholders’ equity
               
Total current liabilities
  $291,203   $—     $291,203 
Derivative warrant liabilities
   —      10,929,780    10,929,780 
   
 
 
   
 
 
   
 
 
 
Total liabilities
   291,203    10,929,780    11,220,983 
Class A common stock, $0.0001 par value; shares subject to possible redemption
   410,049,230    (10,929,780   399,119,450 
Stockholders’ equity
               
Preferred stock-$0.0001 par value
   —      —      —   
Class A common stock - $0.0001 par value
   101    109    210 
Class B common stock - $0.0001 par value
   30    —      30 
Class F common stock - $0.0001 par value
   83    —      83 
Additional
paid-in-capital
   5,345,362    (2,653,929   2,691,433 
Retained earnings (accumulated deficit)
   (345,570   2,653,820    2,308,250 
   
 
 
   
 
 
   
 
 
 
Total stockholders’ equity
   5,000,006    —      5,000,006 
   
 
 
   
 
 
   
 
 
 
Total liabilities and stockholders’ equity
  $415,340,439   $—     $415,340,439 
   
 
 
   
 
 
   
 
 
 
  
   
Period From June 22, 2020 (Inception) Through December 31, 2020
 
   
As Previously

Reported
   
Restatement

Adjustment
   
As Restated
 
Statement of Operations
               
Loss from operations
  $(357,141  $—     $(357,141
Other (expense) income:
               
Change in fair value of derivative warrant liabilities
   —      2,835,950    2,835,950 
Financing costs - derivative warrant liabiltiies
   —      (182,130   (182,130
Interest earned on investments held in Trust Account
   11,571    —      11,571 
   
 
 
   
 
 
   
 
 
 
Total other (expense) income
   11,571    2,653,820    2,665,391 
   
 
 
   
 
 
   
 
 
 
Net income (loss)
  $(345,570  $2,653,820   $2,308,250 
   
 
 
   
 
 
   
 
 
 
Basic and Diluted weighted-average Class A common stock outstanding
   41,400,000         41,400,000 
   
 
 
        
 
 
 
Basic and Diluted net income per Class A common shares
  $—     
 
   $—   
  
 
 
   

   
 
 
 
Basic and Diluted weighted-average Class B & Class F common stock outstanding
   2,580,933         2,580,933 
   
 
 
        
 
 
 
Basic and Diluted net income (loss) per Class B share & Class F share
  $(0.13  
    $0.89 
   
 
 
        
 
 
 

 
 
   
Period From June 22, 2020 (Inception) Through December 31, 2020
 
   
As Previously

Reported
   
Restatement

Adjustment
   
As Restated
 
Statement of Cash Flows
               
Net income (loss)
  $(345,570  $2,653,820   $2,308,250 
Change in fair value of derivative warrant liabilities
   —      (2,835,950   (2,835,950
Offering costs associated with derivative warrant liabilities
   —      182,130    182,130 
Initial value of Class A common stock subject to possible redemption
   410,347,250    (13,765,730   396,581,520 
Change in initial value of Class A common stock subject to possible redemption
   (298,020   2,835,950    2,537,930