Reconciliation of Basic and Diluted Net Loss per Ordinary Share (As Restated)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Net Loss per Ordinary Share (As Restated)

Note 12 — Reconciliation of Basic and Diluted Net Loss per Ordinary Share (As Restated)

In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company first considered the undistributed income (loss) allocable to both the redeemable ordinary shares and non-redeemable ordinary shares and the undistributed income (loss) is calculated using the total net income (loss) less any dividends paid. The Company then allocated the undistributed income (loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable ordinary shares. Any remeasurement of the accretion to redemption value of the ordinary shares subject to possible redemption was considered to be deemed dividends and to reduce from net income (loss) in arriving at net income (loss) available to common shareholders. . Accordingly, basic and diluted adjusted net loss per ordinary share is as follows:

	Three Months Ended March 31,
	2021			2020
Net (loss) income	$	(170,160	)	$	402,558
Accretion of carrying value to redemption value		(212,403	)		(1,683,168	)
Net loss including accretion of carrying value to redemption value	$	(382,563	)	$	(1,280,610	)

	Three Months Ended						Three Months Ended
	March 31, 2021						March 31, 2020
	Redeemable			Non-Redeemable			Redeemable			Non-Redeemable
	Ordinary Shares			Ordinary Shares			Ordinary Shares			Ordinary Shares
Basic and diluted net loss per share:
Numerators:
Allocation of net loss including carrying value to redemption value	$	(117,165	)	$	(265,398	)	$	(1,001,490	)	$	(279,120	)
Denominators:
Weighted-average shares outstanding		1,413,480			3,201,758			11,487,992			3,201,758
Basic and diluted net loss per share	$	(0.08	)	$	(0.08	)	$	(0.09	)	$	(0.09	)