| Quarterly Financial Information |
NOTE 13. Quarterly Financial Information (Unaudited) The following tables contain unaudited quarterly financial information for the quarterly period ended September 30, 2020 that has been updated to reflect the restatement and revision of the Company’s financial statements as described in Note 2—Restatement of Previously Issued Financial Statements. The Company has not amended its previously filed Quarterly Report on Form 10-Q for the Affected Period. The financial information that has been previously filed or otherwise reported for the Affected Period is superseded by the information in this Annual Report, and the financial statements and related financial information for the Affected Period contained in such previously filed report should no longer be relied upon.
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Unaudited Condensed Balance Sheet |
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$ |
415,958,900 |
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$ |
— |
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$ |
415,958,900 |
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$ |
12,966,333 |
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$ |
— |
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$ |
12,966,333 |
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Class A common stock subject to possible redemption |
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397,992,555 |
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16,007,445 |
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414,000,000 |
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Stockholders’ equity (deficit) |
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— |
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— |
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— |
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221 |
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(160 |
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61 |
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30 |
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— |
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30 |
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83 |
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— |
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83 |
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Additional paid-in-capital |
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3,818,317 |
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(3,818,317 |
) |
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— |
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Retained earnings (accumulated deficit) |
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1,181,361 |
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(12,188,968 |
) |
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(11,007,607 |
) |
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Total stockholders’ equity (deficit) |
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5,000,012 |
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(16,007,445 |
) |
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(11,007,433 |
) |
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Total liabilities, Class A common stock subject to possible redemption and stockholders’ equity (deficit) |
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$ |
415,958,900 |
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$ |
— |
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$ |
415,958,900 |
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For the Three Months Ended September 30, 2020 |
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Unaudited Condensed Statement of Operations |
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$ |
1,274,117 |
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$ |
— |
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$ |
1,274,117 |
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Weighted average shares outstanding of redeemable Class A common stock, basic and diluted |
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42,014,000 |
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(42,014,000 |
) |
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— |
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Basic and diluted net income per share of redeemable Class A common stock |
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$ |
— |
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$ |
— |
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$ |
— |
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Weighted average shares outstanding of nonredeemable Class A, Class B and Class F common stock, basic and diluted |
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2,213,782 |
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(2,213,782 |
) |
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— |
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Basic and diluted net income per share of nonredeemable Class A, Class B and Class F common stock |
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$ |
0.54 |
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$ |
(0.54 |
) |
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$ |
— |
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Weighted average shares outstanding of Class A common stock, basic and diluted |
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— |
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5,936,761 |
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5,936,761 |
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Basic and diluted net income per share of Class A common stock |
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$ |
— |
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$ |
0.18 |
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$ |
0.18 |
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Weighted average shares outstanding of Class B common stock, basic and diluted |
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— |
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300,000 |
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300,000 |
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Basic and diluted net income per share of Class B common stock |
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$ |
— |
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$ |
0.18 |
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$ |
0.18 |
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Weighted average shares outstanding of Class F common stock, basic and diluted |
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— |
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735,261 |
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735,261 |
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Basic and diluted net income per share of Class F common stock |
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$ |
— |
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$ |
0.18 |
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$ |
0.18 |
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For the Period from June 22, 2020 (Inception) through September 30, 2020 |
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Unaudited Condensed Statement of Operations |
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$ |
1,181,361 |
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$ |
— |
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$ |
1,181,361 |
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Weighted average shares outstanding of redeemable Class A common stock, basic and diluted |
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42,014,000 |
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(42,014,000 |
) |
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— |
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Basic and diluted net income per share of redeemable Class A common stock |
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$ |
— |
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$ |
— |
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$ |
— |
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Weighted average shares outstanding of nonredeemable Class A, Class B and Class F common stock, basic and diluted |
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2,213,782 |
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(2,213,782 |
) |
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— |
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Basic and diluted net income per share of nonredeemable Class A, Class B and Class F common stock |
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$ |
0.54 |
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$ |
(0.54 |
) |
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$ |
— |
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Weighted average shares outstanding of Class A common stock, basic and diluted |
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— |
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5,407,743 |
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5,407,743 |
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Basic and diluted net income per share of Class A common stock |
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$ |
— |
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$ |
0.18 |
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$ |
0.18 |
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Weighted average shares outstanding of Class B common stock, basic and diluted |
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— |
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300,000 |
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300,000 |
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Basic and diluted net income per share of Class B common stock |
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$ |
— |
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$ |
0.18 |
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$ |
0.18 |
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Weighted average shares outstanding of Class F common stock, basic and diluted |
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— |
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733,901 |
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733,901 |
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Basic and diluted net income per share of Class F common stock |
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$ |
— |
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$ |
0.18 |
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$ |
0.18 |
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For the Period from June 22, 2020 (Inception) through September 30, 2020 |
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Unaudited Condensed Statement of Cash Flows - Supplemental disclosure of noncash activities: |
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Initial Value of Class A common stock subject to possible redemption |
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$ |
396,581,520 |
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$ |
(396,581,520 |
) |
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$ |
— |
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Change in fair value of Class A common stock subject to possible redemption |
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$ |
1,411,035 |
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$ |
(1,411,035 |
) |
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$ |
— |
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Accretion on Class A common stock subject to possible redemption amount |
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$ |
— |
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$ |
18,146,564 |
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$ |
18,146,564 |
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