Annual report pursuant to Section 13 and 15(d)

Restatement of Previously Issued Financial Statements (Tables)

v3.21.2
Restatement of Previously Issued Financial Statements (Tables)
5 Months Ended
Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
The Company’s accounting for the Warrants as components of equity instead of as derivative liabilities did not have any effect on the Company’s previously reported marketable securities held in trust, operating expenses, cash flows or cash.
 
 
  
As
Previously
Reported
 
  
Adjustments
 
  
As Restated
 
Balance sheet as of October 5, 2020
  
     
  
     
  
     
Warrant Liability
  
$
—  
 
  
$
28,060,000
 
  
$
28,060,000
 
Total Liabilities
  
 
13,125,000
 
  
 
28,060,000
 
  
 
41,185,000
 
Class A Ordinary Shares Subject to Possible Redemption
  
 
384,227,970
 
  
 
(28,060,000
  
 
356,167,970
 
Class A Ordinary Shares
  
 
158
 
  
 
280
 
  
 
438
 
Additional
Paid-in
Capital
  
 
5,003,706
 
  
 
999,094
 
  
 
6,002,800
 
Accumulated Deficit
  
 
(5,005
  
 
(999,374
  
 
(1,004,379
Balance sheet as of December 31, 2020
  
     
  
     
  
     
Warrant Liability
  
$
—  
 
  
$
46,970,000
 
  
$
46,970,000
 
Total Liabilities
  
 
13,243,353
 
  
 
46,970,000
 
  
 
60,213,353
 
Ordinary Shares Subject to Possible Redemption
  
 
384,081,240
 
  
 
(46,970,000
  
 
337,111,240
 
Class A Ordinary Shares
  
 
159
 
  
 
470
 
  
 
629
 
Additional
Paid-in
Capital
  
 
5,150,585
 
  
 
19,908,904
 
  
 
25,059,489
 
Accumulated Deficit
  
 
(151,735
  
 
(19,909,374
  
 
(20,061,109
Statement of Operations for the Period from July 29, 2020 (inception) to December 31, 2020
  
     
  
     
  
     
Change in fair value of warrant liabilities
  
$
—  
 
  
$
(18,910,000
  
$
(18,910,000
Transaction costs allocable to warrants
  
 
—  
 
  
 
(999,374
  
 
(999,374
Net loss
  
 
(151,735
  
 
(19,909,374
  
 
(20,061,109
Statement of Cash Flows for the Period from July 29, 2020 (inception) to December 31, 2020
  
     
  
     
  
     
Net loss
  
$
(151,735
  
$
(19,909,374
  
$
(20,061,109
Change in fair value of warrant liabilities
  
 
—  
 
  
 
18,910,000
 
  
 
18,910,000
 
Transaction costs allocable to warrants
  
 
—  
 
  
 
999,374
 
  
 
999,374
 
Initial classification of Class A ordinary shares subject to redemption
  
 
384,227,970
 
  
 
(28,060,000
  
 
356,167,970
 
Change in value of Class A ordinary shares subject to redemption
  
 
(146,730
  
 
(18,910,000
  
 
(19,056,730