Quarterly report pursuant to Section 13 or 15(d)

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

v3.22.2.2
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
3 Months Ended
Mar. 31, 2021
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Schedule of impact of the restatement on financial statements

 

 

 

 

 

 

 

 

 

As

 

    

 

    

 

 

Previously

 

 

 

 

 

    

 Reported

    

Adjustments

    

As Restated

Condensed Balance Sheets as of March 31, 2021 (unaudited)

 

  

 

  

 

  

Class A Common Stock Subject to Possible Redemption

 

584,119,845

 

112,386,321

 

696,506,166

Class A Common Stock

 

1,109

 

(1,109)

 

 —

Additional Paid-in Capital

 

50,398,148

 

(50,398,148)

 

 —

Accumulated Deficit

 

(45,400,976)

 

(61,987,064)

 

(107,388,040)

Total Stockholders’ Equity (Deficit)

 

5,000,006

 

(112,386,321)

 

(107,386,315)

Number of Class A common stock subject to redemption

 

57,909,708

 

11,090,292

 

69,000,000

 

 

 

 

 

 

 

Condensed Statements of Changes in Stockholders’ Deficit for the three months ended March 31, 2021 (unaudited)

 

  

 

  

 

  

Class A common stock subject to possible redemption

 

(41,740,385)

 

41,740,385

 

 —

Remeasurement for Class A common stock to redemption amount

 

 —

 

(7,635)

 

(7,635)

 

 

 

 

 

 

 

Condensed Statements of Operations for the three months ended March 31, 2021 (unaudited)

 

  

 

  

 

  

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

 

53,712,502

 

15,287,498

 

69,000,000

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

 

 —

 

0.48

 

0.48

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

 

32,537,498

 

(15,287,498)

 

17,250,000

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

 

1.28

 

(0.80)

 

0.48

 

 

 

 

 

 

 

Condensed Statements of Cash Flows for the three months ended March 31, 2021 (unaudited)

 

  

 

  

 

  

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

 

(30,718,384)

 

30,726,019

 

7,635