Registration of securities issued in business combination transactions

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

v3.21.1
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
6 Months Ended
Dec. 31, 2020
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Schedule of impact of the restatement on financial statements

 

 

 

 

 

 

 

 

 

 

 

 

As

 

 

 

 

 

 

 

 

Previously

 

 

 

As

 

    

Reported

    

 

Adjustments

    

Restated

Balance sheet as of September 25, 2020 (audited)

 

 

 

 

 

 

 

 

 

Warrant Liability

 

$

 —

 

$

13,679,333

 

$

13,679,333

Ordinary Shares Subject to Possible Redemption

 

 

213,557,280

 

 

(13,679,333)

 

 

199,877,947

Class A Ordinary Shares

 

 

114

 

 

137

 

 

251

Additional Paid-in Capital

 

 

5,014,340

 

 

510,845

 

 

5,525,185

Accumulated Deficit

 

 

(15,092)

 

 

(510,982)

 

 

(526,074)

 

 

 

 

 

 

 

 

 

 

Balance sheet as of September 30, 2020 (unaudited)

 

 

  

 

 

  

 

 

  

Warrant Liability

 

$

 —

 

$

13,277,000

 

$

13,277,000

Ordinary Shares Subject to Possible Redemption

 

 

213,530,925

 

 

(13,277,000)

 

 

200,253,925

Class A Ordinary Shares

 

 

114

 

 

133

 

 

247

Additional Paid-in Capital

 

 

5,040,694

 

 

108,515

 

 

5,149,209

Accumulated Deficit

 

 

(41,447)

 

 

(108,648)

 

 

(150,095)

 

 

 

 

 

 

 

 

 

 

Balance sheet as of December 31, 2020 (audited)

 

 

  

 

 

  

 

 

  

Warrant Liability

 

$

 —

 

$

13,272,784

 

$

13,272,784

Ordinary Shares Subject to Possible Redemption

 

 

226,248,228

 

 

(13,272,784)

 

 

(212,975,444)

Class A Ordinary Shares

 

 

135

 

 

133

 

 

268

Additional Paid-in Capital

 

 

6,553,617

 

 

104,299

 

 

6,657,916

Accumulated Deficit

 

 

(1,554,342)

 

 

(104,432)

 

 

(1,658,774)

 

 

 

 

 

 

 

 

 

 

Period from July 7, 2020 (inception) to September 30, 2020 (unaudited)

 

 

  

 

 

  

 

 

  

Change in fair value of warrant liability

 

$

 —

 

$

402,333

 

$

402,333

Formation and Operational cost

 

 

15,092

 

 

510,982

 

 

526,074

Net loss

 

 

(41,447)

 

 

(108,648)

 

 

(150,095)

Weighted average shares outstanding of Class A redeemable ordinary shares

 

 

  

 

 

19,987,795

 

 

19,987,795

Weighted average shares outstanding of Class B non-redeemable ordinary shares

 

 

5,698,351

 

 

87,688

 

 

5,786,039

Basic and diluted net loss per share, Class B

 

 

(0.01)

 

 

(0.02)

 

 

(0.03)

 

 

 

 

 

 

 

 

 

 

Period from July 7, 2020 (inception) to December 31, 2020 (audited)

 

 

  

 

 

  

 

 

  

Change in fair value of warrant liability

 

$

 —

 

$

406,549

 

$

406,549

Formation and Operational cost

 

 

1,603,147

 

 

510,982

 

 

2,114,129

Net loss

 

 

(1,554,342)

 

 

(104,432)

 

 

(1,658,774)

Weighted average shares outstanding of Class A redeemable ordinary shares

 

 

22,676,053

 

 

(1,279,064)

 

 

21,396,989

Weighted average shares outstanding of Class B non-redeemable ordinary shares

 

 

6,500,406

 

 

729,819

 

 

7,230,225

Basic and diluted net loss per share, Class B

 

 

(0.25)

 

 

(0.01)

 

 

(0.26)

 

 

 

 

 

 

 

 

 

 

Cash Flow Statement for the Period from July 7, 2020 (inception) to September 30, 2020 (unaudited)

 

 

  

 

 

  

 

 

  

Net loss

 

 

(41,447)

 

 

(108,648)

 

 

(150,095)

Allocation of initial public offering costs to warrant liability

 

 

 —

 

 

510,982

 

 

510,982

Change in fair value of warrant liability

 

 

 —

 

 

402,333

 

 

402,333

Initial classification of warrant liability

 

 

 —

 

 

13,679,333

 

 

13,679,333

Initial classification of common stock subject to possible redemption

 

 

213,557,280

 

 

(13,679,333)

 

 

199,877,947

Change in value of common stock subject to possible redemption

 

 

(26,355)

 

 

402,333

 

 

375,978

Cash Flow Statement for the Period from July 7, 2020 (inception) to December 31, 2020 (audited)

 

 

  

 

 

  

 

 

  

Net loss

 

$

(1,554,342)

 

$

(104,432)

 

$

(1,658,774)

Change in fair value of warrant liability

 

 

 —

 

 

406,549

 

 

406,549

Initial classification of warrant liability

 

 

 —

 

 

13,679,333

 

 

13,679,333

Initial classification of common stock subject to possible redemption

 

 

227,787,480

 

 

(13,679,333)

 

 

214,108,147

Change in value of common stock subject to possible redemption

 

 

(1,539,252)

 

 

406,549

 

 

(1,132,703)