Reconciliation of Adjusted Net (Loss) Income per Ordinary Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Reconciliation of Adjusted Net (Loss) Income per Ordinary Share

Note 11 — Reconciliation of Adjusted Net (Loss) Income per Ordinary Share

The Company’s net (loss) income is adjusted for the portion of income or loss that is attributable to ordinary shares subject to possible redemption, as these shares only participate in the earnings of the Trust Account and not the income or losses of the Company. Accordingly, basic and diluted adjusted net (loss) income per ordinary share is as follows: 

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Net (loss) income	$	(99,964	)	$	536,584		$	164,407		$	1,628,811
Less: income attributable to ordinary shares subject to redemption (1)		(71	)		(568,780	)		(104,313	)		(1,842,902	)
Adjusted net (loss) income	$	(100,035	)	$	(32,196	)	$	60,094		$	(214,091	)
Basic and diluted weighted average shares outstanding (2)		4,339,562			4,104,181			4,292,420			4,095,763
Basic and diluted adjusted net (loss) income per ordinary share	$	(0.02	)	$	(0.01	)	$	0.01		$	(0.05	)

(1)	Income attributable to ordinary shares subject to possible redemption was calculated in proportion of the interest income earned in the Trust Account, which would be distributed to shareholders in the event they choose to exercise their redemption rights at the closing of a Business Combination and at October 26, 2020.
(2)	Excludes an aggregate of up to 264,008 and 10,586,284 shares subject to possible redemption at September 30, 2020 and 2019, respectively.