Schedule of impact of the restatement on financial statements |
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As
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Previously
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Reported
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Adjustments
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As Restated
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Condensed Balance Sheets as of March 31, 2021 (unaudited)
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Class A Common Stock Subject to Possible Redemption
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584,119,845
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112,386,321
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696,506,166
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Class A Common Stock
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1,109
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(1,109)
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—
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Additional Paid-in Capital
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50,398,148
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(50,398,148)
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—
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Accumulated Deficit
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(45,400,976)
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(61,987,064)
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(107,388,040)
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Total Stockholders’ Equity (Deficit)
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5,000,006
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(112,386,321)
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(107,386,315)
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Number of Class A common stock subject to redemption
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57,909,708
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11,090,292
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69,000,000
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Condensed Statements of Changes in Stockholders’ Deficit for the three months ended March 31, 2021 (unaudited)
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Class A common stock subject to possible redemption
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(41,740,385)
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41,740,385
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—
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Remeasurement for Class A common stock to redemption amount
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—
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(7,635)
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(7,635)
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Condensed Statements of Operations for the three months ended March 31, 2021 (unaudited)
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Basic and diluted weighted average shares outstanding, Class A common stock
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53,712,502
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15,287,498
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69,000,000
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Basic and diluted net income per share, Class A common stock
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—
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0.48
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0.48
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Basic and diluted weighted average shares outstanding, Class B common stock
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32,537,498
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(15,287,498)
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17,250,000
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Basic and diluted net income per share, Class B common stock
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1.28
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(0.80)
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0.48
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Condensed Statements of Cash Flows for the three months ended March 31, 2021 (unaudited)
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Change in value of Class A common stock subject to possible redemption
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(30,718,384)
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30,726,019
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7,635
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