Registration of securities issued in business combination transactions

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended 10 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Accounting Policies [Abstract]    
Schedule of calculation of basic and diluted net income (loss) per common share

 





Three Months
Ended
June 30,

 

Six Months
Ended
June 30
,
2021

 

For the
Period From
March 6,
2020
(inception)
through
June 30,
2020

   

2021

 

2020

 

Redeemable Class A Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator: Earnings allocable to Redeemable Class A Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

$

11,723

 

 

$

 

 

$

72,356

 

 

$

 

Less: Income and Franchise Tax available to be withdrawn from the Trust Account

 

 

(11,723

)

 

 

 

 

 

(72,356

)

 

 

 

Redeemable Net Earnings

 

$

 

 

$

 

 

$

 

 

$

 

Denominator: Weighted Average Redeemable Class A Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable Class A Common Stock, Basic and Diluted

 

 

35,000,000

 

 

 

35,000,000

 

 

 

35,000,000

 

 

 

35,000,000

 

Earnings/Basic and Diluted Redeemable Class A Common Stock

 

$

0.00

 

 

$

0.00

 

 

$

0.00

 

 

$

0.00

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Redeemable Class B Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator: Net (Loss) Income minus Redeemable Net Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (Loss) Income

 

$

(6,901,837

)

 

$

(1,619,103

)

 

$

28,947,974

 

 

$

(1,620,103

)

Non-Redeemable Net (Loss) Income

 

$

(6,901,837

)

 

$

(1,619,103

)

 

$

28,947,974

 

 

$

(1,620,103

)

Denominator: Weighted Average Non-Redeemable Class B Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Redeemable Class B Common Stock, Basic and Diluted(1)

 

 

8,750,000

 

 

 

8,750,000

 

 

 

8,750,000

 

 

 

8,750,000

 

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

 

$

(0.79

)

 

$

(0.19

)

 

$

3.30

 

 

$

(0.19

)

(1)      For the three and six months ended June 30, 2021, basic and diluted shares are the same as there are no non-redeemable securities that are dilutive to the stockholders.

 

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

)