| 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.
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$ |
415,340,439 |
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$ |
— |
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$ |
415,340,439 |
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$ |
11,220,983 |
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$ |
— |
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$ |
11,220,983 |
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| Class A common stock subject to possible redemption |
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399,119,450 |
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14,880,550 |
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414,000,000 |
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Stockholders’ equity (deficit) |
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| Preferred stock |
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— |
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— |
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— |
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| Class A common stock |
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210 |
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(149 |
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61 |
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| Class B common stock |
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30 |
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— |
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30 |
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| Class F common stock |
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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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2,691,433 |
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(2,691,433 |
) |
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— |
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| Retained earnings (accumulated deficit) |
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2,308,250 |
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(12,188,968 |
) |
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(9,880,718 |
) |
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Total stockholders’ equity (deficit) |
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5,000,006 |
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(14,880,550 |
) |
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(9,880,544 |
) |
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Total liabilities, Class A common stock subject to possible redemption and stockholders’ equity (deficit) |
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$ |
415,340,439 |
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$ |
— |
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$ |
415,340,439 |
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For the Period from June 22, 2020 (Inception) through December 31, 2020 |
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$ |
2,308,250 |
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$ |
— |
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$ |
2,308,250 |
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Weighted average shares outstanding of redeemable Class A common stock, basic and diluted |
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41,400,000 |
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(41,400,000 |
) |
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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 non redeemable Class A, Class B and Class F common stock, basic and diluted |
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2,580,933 |
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(2,580,933 |
) |
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— |
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Basic and diluted net income per share of non redeemable Class A, Class B and Class F common stock |
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$ |
0.89 |
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$ |
(0.89 |
) |
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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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22,857,358 |
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22,857,358 |
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Basic and diluted net income per share of Class A common stock |
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$ |
— |
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$ |
0.10 |
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$ |
0.10 |
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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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$ |
0.10 |
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$ |
0.10 |
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Weighted average shares outstanding of Class F common stock, basic and diluted |
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— |
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778,756 |
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778,756 |
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Basic and diluted net income per share of Class F common stock |
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$ |
— |
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$ |
0.10 |
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$ |
0.10 |
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For the Period from June 22, 2020 (Inception) through December 31, 2020 |
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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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$ |
2,537,930 |
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$ |
(2,537,930 |
) |
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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 |
| The change in the carrying value of the redeemable shares of the Class A common stock in the IPO Balance Sheet resulted in a decrease of approximately $5.2 million in additional paid-in capital and an increase of approximately $12.2 million to accumulated deficit, as well as a reclassification of 1,741,848 shares of Class A common stock from permanent equity to temporary equity as presented below.
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$ |
416,138,024 |
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$ |
— |
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$ |
416,138,024 |
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14,556,501 |
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— |
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$ |
14,556,501 |
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| Class A common stock subject to possible redemption |
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396,581,520 |
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17,418,480 |
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414,000,000 |
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Stockholders’ equity (deficit) |
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| Preferred stock |
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— |
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— |
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— |
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| Class A common stock |
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236 |
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(175 |
) |
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61 |
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| Class B common stock |
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30 |
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— |
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30 |
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| Class F common stock |
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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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5,235,337 |
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(5,235,337 |
) |
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— |
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| Accumulated deficit |
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(235,683 |
) |
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(12,182,968 |
) |
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(12,418,651 |
) |
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Total stockholders’ equity (deficit) |
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5,000,003 |
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(17,418,480 |
) |
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(12,418,477 |
) |
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Total liabilities, Class A common stock subject to possible redemption and stockholders’ equity (deficit) |
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$ |
416,138,024 |
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$ |
— |
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$ |
416,138,024 |
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