v3.22.0.1
Restatement of previously issued financial statements (Tables)
6 Months Ended
Dec. 31, 2020
Restatement of Previously Issued Financial Statements [Line Items]  
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.
 
    
As of December 31, 2020
 
    
As Previously
Reported
    
Restatement
Adjustment
    
As Restated
 
Balance Sheet
                          
Total assets
   $ 415,340,439      $ —        $ 415,340,439  
    
 
 
    
 
 
    
 
 
 
Total liabilities
   $ 11,220,983      $ —        $ 11,220,983  
Class A common stock subject to possible redemption
     399,119,450        14,880,550        414,000,000  
Stockholders’ equity (deficit)
                          
Preferred stock
     —          —          —    
Class A common stock
     210        (149      61  
Class B common stock
     30        —          30  
Class F common stock
     83        —          83  
Additional paid-in-capital
     2,691,433        (2,691,433      —    
Retained earnings (accumulated deficit)
     2,308,250        (12,188,968      (9,880,718
    
 
 
    
 
 
    
 
 
 
Total stockholders’ equity (deficit)
     5,000,006        (14,880,550      (9,880,544
    
 
 
    
 
 
    
 
 
 
Total liabilities, Class A common stock subject to possible redemption and stockholders’ equity (deficit)
   $ 415,340,439      $ —        $ 415,340,439  
    
 
 
    
 
 
    
 
 
 
 
    
For the Period from June 22, 2020 (Inception)
through December 31, 2020
 
    
As Previously
Reported
    
Adjustment
    
As Restated
 
Statement of Operations
                          
Net income
   $ 2,308,250      $ —        $ 2,308,250  
    
 
 
    
 
 
    
 
 
 
Weighted average shares outstanding of redeemable Class A common stock, basic and diluted
     41,400,000        (41,400,000      —    
Basic and diluted net income per share of redeemable Class A common stock
   $ —        $ —        $ —    
Weighted average shares outstanding of non redeemable Class A, Class B and Class F common stock, basic and diluted
     2,580,933        (2,580,933      —    
Basic and diluted net income per share of non redeemable Class A, Class B and Class F common stock
   $ 0.89      $ (0.89    $ —    
Weighted average shares outstanding of Class A common stock, basic and diluted
     —          22,857,358        22,857,358  
Basic and diluted net income per share of Class A common stock
   $ —        $ 0.10      $ 0.10  
Weighted average shares outstanding of Class B common stock, basic and diluted
     —          300,000        300,000  
Basic and diluted net income per share of Class B common stock
   $ —        $ 0.10      $ 0.10  
Weighted average shares outstanding of Class F common stock, basic and diluted
     —          778,756        778,756  
Basic and diluted net income per share of Class F common stock
   $ —        $ 0.10      $ 0.10  
 
    
For the Period from June 22, 2020 (Inception)
through December 31, 2020
 
    
As Previously
Reported
    
Adjustment
    
As Restated
 
Statement of Cash Flows - Supplemental disclosure of noncash activities:
                          
Initial Value of Class A common stock subject to possible redemption
   $ 396,581,520      $ (396,581,520    $ —    
Change in fair value of Class A common stock subject to possible redemption
   $ 2,537,930      $ (2,537,930    $ —    
Accretion on Class A common stock subject to possible redemption amount
   $ —        $ 18,146,564      $ 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.
 
    
As of September 18, 2020
 
    
As Previously
Reported
    
Restatement
Adjustment
    
As Restated
 
Balance Sheet
                          
Total assets
   $ 416,138,024      $ —        $ 416,138,024  
    
 
 
    
 
 
    
 
 
 
Total liabilities
     14,556,501        —        $ 14,556,501  
Class A common stock subject to possible redemption
     396,581,520        17,418,480        414,000,000  
Stockholders’ equity (deficit)
                          
Preferred stock
     —          —          —    
Class A common stock
     236        (175      61  
Class B common stock
     30        —          30  
Class F common stock
     83        —          83  
Additional paid-in-capital
     5,235,337        (5,235,337      —    
Accumulated deficit
     (235,683      (12,182,968      (12,418,651
    
 
 
    
 
 
    
 
 
 
Total stockholders’ equity (deficit)
     5,000,003        (17,418,480      (12,418,477
    
 
 
    
 
 
    
 
 
 
Total liabilities, Class A common stock subject to possible redemption and stockholders’ equity (deficit)
   $ 416,138,024      $ —        $ 416,138,024