Summary Of Revision Of Previously Issued Financial Statements |
The impact of the revision on the Company’s financial statements is reflected in the following table.
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet as of February 12, 2021 ( unaudited ) |
|
|
|
|
|
|
|
|
|
Class A common stock subject to possible redemption |
|
$ |
301,630,948 |
|
|
$ |
14,619,052 |
|
|
$ |
316,250,000 |
|
Class A common stock |
|
$ |
230 |
|
|
$ |
(147 |
) |
|
$ |
83 |
|
Additional paid-in capital |
|
$ |
5,235,691 |
|
|
$ |
(5,235,691 |
) |
|
$ |
— |
|
Accumulated deficit |
|
$ |
(236,705 |
) |
|
$ |
(9,383,214 |
) |
|
$ |
(9,619,919 |
) |
Total Stockholders’ Equity (Deficit) |
|
$ |
5,000,007 |
|
|
$ |
(14,619,052 |
) |
|
$ |
(9,619,045 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet as of March 31, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Class A common stock subject to possible redemption |
|
$ |
306,684,320 |
|
|
$ |
9,565,680 |
|
|
$ |
316,250,000 |
|
|
|
$ |
179 |
|
|
$ |
(96 |
) |
|
$ |
83 |
|
Additional paid-in capital |
|
$ |
182,370 |
|
|
$ |
(182,370 |
) |
|
$ |
— |
|
|
|
$ |
4,816,670 |
|
|
$ |
(9,383,214 |
) |
|
$ |
(4,566,544 |
) |
Total Stockholders’ Equity (Deficit) |
|
$ |
5,000,010 |
|
|
$ |
(9,565,680 |
) |
|
$ |
(4,565,670 |
) |
|
|
|
|
Balance Sheet as of June 30, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Class A common stock subject to possible redemption |
|
$ |
296,160,450 |
|
|
$ |
20,089,550 |
|
|
$ |
316,250,000 |
|
|
|
$ |
284 |
|
|
$ |
(201 |
) |
|
$ |
83 |
|
Additional paid-in capital |
|
$ |
10,706,135 |
|
|
$ |
(10,706,135 |
) |
|
$ |
— |
|
|
|
$ |
(5,707,207 |
) |
|
$ |
(9,383,214 |
) |
|
$ |
(15,090,421 |
) |
Total Stockholders’ Equity (Deficit) |
|
$ |
5,000,003 |
|
|
$ |
(20,089,550 |
) |
|
$ |
(15,089,547 |
) |
|
|
|
|
Statement of Cash Flows for the Three Months Ended March 31, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Initial classification of Class A common stock subject to possible redemption |
|
$ |
301,630,950 |
|
|
$ |
14,619,050 |
|
|
$ |
316,250,000 |
|
Change in value of Class A common stock subject to possible redemption |
|
|
5,053,370 |
|
|
|
(5,053,370 |
) |
|
|
— |
|
|
|
|
|
Statement of Cash Flows for the Six Months Ended June 30, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Initial classification of Class A common stock subject to possible redemption |
|
$ |
301,630,950 |
|
|
$ |
14,619,050 |
|
|
$ |
316,250,000 |
|
Change in value of Class A common stock subject to possible redemption |
|
|
(5,470,500 |
) |
|
|
5,470,500 |
|
|
|
— |
|
|
|
|
|
Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficit) March 31, 2021 |
|
|
|
|
|
|
|
|
|
Sales of 31,625,000 Units, net of underwriting discounts |
|
|
298,798,535 |
|
|
|
(298,798,535 |
) |
|
|
— |
|
Sale of 832,500 Private Placement Units (Private Placement Shares) |
|
|
8,044,125 |
|
|
|
— |
|
|
|
8,044,125 |
|
Initial value of common stock subject to possible redemption at IPO date |
|
|
(301,630,950 |
) |
|
|
301,630,950 |
|
|
|
— |
|
Change in value of common stock subject to redemption |
|
|
(5,053,370 |
) |
|
|
5,053,370 |
|
|
|
— |
|
Accretion for Class A common stock to redemption amount |
|
|
— |
|
|
|
(17,451,465 |
) |
|
|
(17,451,465 |
) |
Total stockholders’ equity (deficit) |
|
|
5,000,010 |
|
|
|
(9,565,680 |
) |
|
|
(4,565,670 |
) |
|
|
|
|
Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficit) June 30, 2021 |
|
|
|
|
|
|
|
|
|
Change in value of common stock subject to redemption |
|
|
(5,470,500 |
) |
|
|
5,470,500 |
|
|
|
— |
|
Total stockholders’ equity (deficit) |
|
|
5,000,003 |
|
|
|
(20,089,550 |
) |
|
|
(15,089,547 |
) | In connection with the change in presentation for the Class A common stock subject to redemption, the Company also restated its income (loss) per share calculated to allocate net income (loss) evenly to Class A and Class B common stock. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of common stock share pro rata in the income (loss) of the Company. There is no impact to the reported amounts for total assets, total liabilities, cash flows, or net income (loss). The impact of this restatement on the Company’s financial statements is reflected in the following table:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, 2021 |
|
|
For the Three Months Ended March 31,
|
|
|
For the Three Months Ended June 30,
|
|
|
For the Three Months Ended June 30,
|
|
|
For the Six Months Ended June 30,
|
|
|
For the Six Months Ended June 30,
|
|
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
|
|
30,163,095 |
|
|
|
31,625,000 |
|
|
|
29,616,045 |
|
|
|
31,625,000 |
|
|
|
30,496,324 |
|
|
|
31,625,000 |
|
Basic and diluted net loss per share, Class A common stock |
|
$ |
— |
|
|
$ |
0.12 |
|
|
$ |
— |
|
|
$ |
(0.27 |
) |
|
$ |
— |
|
|
$ |
(0.15 |
) |
Basic and diluted weighted average shares outstanding, Class B common stock subject to possible redemption |
|
|
8,611,731 |
|
|
|
7,715,000 |
|
|
|
9,695,318 |
|
|
|
7,715,000 |
|
|
|
6,875,000 |
|
|
|
7,715,000 |
|
Basic and diluted net loss per share, Class B common stock |
|
|
0.56 |
|
|
$ |
0.12 |
|
|
$ |
(1.09 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.83 |
) |
|
$ |
(0.15 |
) |
|
Summary of Restatement of Net Income Loss Per Share [Table Text Block] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, 2021 |
|
|
For the Three Months Ended March 31,
|
|
|
For the Three Months Ended June 30,
|
|
|
For the Three Months Ended June 30,
|
|
|
For the Six Months Ended June 30,
|
|
|
For the Six Months Ended June 30,
|
|
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
|
|
30,163,095 |
|
|
|
31,625,000 |
|
|
|
29,616,045 |
|
|
|
31,625,000 |
|
|
|
30,496,324 |
|
|
|
31,625,000 |
|
Basic and diluted net loss per share, Class A common stock |
|
$ |
— |
|
|
$ |
0.12 |
|
|
$ |
— |
|
|
$ |
(0.27 |
) |
|
$ |
— |
|
|
$ |
(0.15 |
) |
Basic and diluted weighted average shares outstanding, Class B common stock subject to possible redemption |
|
|
8,611,731 |
|
|
|
7,715,000 |
|
|
|
9,695,318 |
|
|
|
7,715,000 |
|
|
|
6,875,000 |
|
|
|
7,715,000 |
|
Basic and diluted net loss per share, Class B common stock |
|
|
0.56 |
|
|
$ |
0.12 |
|
|
$ |
(1.09 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.83 |
) |
|
$ |
(0.15 |
) |
|