Registration of securities issued in business combination transactions

Summary of Significant Accounting Policies (Tables)

v3.21.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended 10 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Accounting Policies [Abstract]    
Schedule of calculation of basic and diluted net income (loss) per common share

 

Three Months Ended
March 31,
2021

 

For the Period from March 6,
2020
(Inception) Through March 31,

2020

Redeemable Class A Common Stock

 

 

 

 

 

 

 

 

Numerator: Earnings allocable to Redeemable Class A Common Stock

 

 

 

 

 

 

 

 

Interest Income

 

$

60,633

 

 

$

 

Income and Franchise Tax

 

 

(52,233

)

 

 

 

Net Earnings

 

$

8,400

 

 

$

 

Denominator: Weighted Average Redeemable Class A Common Stock

 

 

 

 

 

 

 

 

Redeemable Class A Common Stock, Basic and Diluted

 

 

35,000,000

 

 

 

 

Earnings/Basic and Diluted Redeemable Class A Common Stock

 

$

0.00

 

 

$

 

   

 

 

 

 

 

 

 

Non-Redeemable Class B Common Stock

 

 

 

 

 

 

 

 

Numerator: Net Income (Loss) minus Redeemable Net Earnings

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

35,849,811

 

 

$

(1,000

)

Redeemable Net Earnings

 

 

(8,400

)

 

 

 

Non-Redeemable Net Income (Loss)

 

$

35,841,411

 

 

$

(1,000

)

Denominator: Weighted Average Non-Redeemable Class B Common Stock

 

 

 

 

 

 

 

 

Non-Redeemable Class B Common Stock, Basic and Diluted

 

 

8,750,000

 

 

 

7,625,000

 

Income (Loss)/Basic and Diluted Non-Redeemable Class B Common Stock

 

$

4.10

 

 

$

 

 

For the Period From March 6, 2020 (inception) Through December 31, 2020

   

As Previously
Report

 

Adjustments

 

As Restated

Redeemable Class A Common Stock

   

 

   

 

   

 

Numerator: Earnings allocable to Redeemable Class A Common Stock

   

 

   

 

   

 

Interest Income

 

219,337

 

 

 

 

219,337

 

Income and Franchise Tax

 

(176,040

)

   

 

 

(176,040

)

Net Earnings

 

43,297

 

 

 

 

43,297

 

Denominator: Weighted Average Redeemable Class A Common Stock

   

 

   

 

   

 

Redeemable Class A Common Stock, Basic and Diluted

 

35,000,000

 

 

 

 

35,000,000

 

Earnings/Basic and Diluted Redeemable Class A Common Stock

 

0.00

 

 

 

 

0.00

 

Non-Redeemable Class B Common Stock

   

 

   

 

   

 

Numerator: Net Loss minus Redeemable Net Earnings

   

 

   

 

   

 

Net Loss

 

(408,237

)

 

(38,860,942

)

 

(39,269,179

)

Redeemable Net Earnings

 

(43,297

)

 

 

 

(43,297

)

Non-Redeemable Net Loss

 

(451,534

)

 

(38,860,942

)

 

(39,312,476

)

Denominator: Weighted Average Non-Redeemable Class B Common Stock

   

 

   

 

   

 

Non-Redeemable Class B Common Stock, Basic and Diluted

 

8,750,000

 

 

 

 

8,750,000

 

Loss/Basic and Diluted Non-Redeemable Class B Common Stock

 

(0.05

)

 

(4.44

)

 

(4.49

)