General form of registration statement for all companies including face-amount certificate companies

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Less: Income and Franchise Tax available to be withdrawn from the Trust Account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

)