XML 50 R36.htm IDEA: XBRL DOCUMENT v3.21.1
Restatement of Previously Issued Audited and Unaudited Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2020
Restatement [Abstract]  
Summary of restatement of balance sheet
December 31, 2020 balance sheet:
 
                                                                         
   
As of December 31, 2020
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Total assets
  
$
205,633,422
 
  
$
—  
 
  
$
205,633,422
 
   
 
 
   
 
 
   
 
 
 
Liabilities and Shareholders’ Equity
               
Total current liabilities
  
$
4,896,647
 
  
$
—  
 
  
$
4,896,647
 
Deferred underwriting commissions
  
 
7,043,750
 
  
 
—  
 
  
 
7,043,750
 
Deferred legal fees
  
 
150,000
 
  
 
—  
 
  
 
150,000
 
Warrant liabilities
  
 
—  
 
  
 
47,571,334
 
  
 
47,571,334
 
   
 
 
   
 
 
   
 
 
 
Total liabilities
  
 
12,090,397
 
  
 
47,571,334
 
  
 
59,661,731
 
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
  
 
188,543,020
 
  
 
(47,571,330
) 
  
 
140,971,690
 
Shareholders’ equity:
               
Preference shares, $0.0001 par value
  
 
—  
 
  
 
—  
 
  
 
—  
 
Class A ordinary shares, $0.0001 par value
  
 
127
 
  
 
477
 
  
 
604
 
Class B ordinary shares, $0.0001 par value
  
 
503
 
  
 
—  
 
  
 
503
 
Additional
paid-in
capital
  
 
6,901,127
 
  
 
33,369,400
 
  
 
40,270,527
 
Accumulated deficit
  
 
(1,901,752
) 
  
 
(33,369,881
) 
  
 
(35,271,633
) 
   
 
 
   
 
 
   
 
 
 
Total shareholders’ equity
  
 
5,000,005
 
  
 
(4
) 
  
 
5,000,001
 
   
 
 
   
 
 
   
 
 
 
Total liabilities and shareholders’ equity
  
$
205,633,422
 
  
$
—  
 
  
$
205,633,422
 
   
 
 
   
 
 
   
 
 
 
A reconciliation of the Class A ordinary shares subject to possible redemption outstanding and Class A ordinary shares outstanding is as follows:
 
   
                           
   
                           
   
                           
 
   
As of December 31, 2020
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Shares subject to possible redemption - shares outstanding
  
 
18,854,302
 
  
 
(4,757,133
) 
  
 
14,097,169
 
   
 
 
   
 
 
   
 
 
 
Ordinary shares—shares issued and outstanding
  
 
1,270,698
 
  
 
4,757,133
 
  
 
6,027,831
 
   
 
 
   
 
 
   
 
 
 

September 30, 2020 balance sheet:
 
                                                                         
   
As of September 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Total assets
  
$
205,813,988
 
  
$
—  
 
  
$
205,813,988
 
   
 
 
   
 
 
   
 
 
 
Liabilities and Shareholders’ Equity
               
Total current liabilities
  
$
3,037,725
 
  
$
—  
 
  
$
3,037,725
 
Deferred underwriting commissions
  
 
7,043,750
 
  
 
—  
 
  
 
7,043,750
 
Deferred legal fees
  
 
150,000
 
  
 
—  
 
  
 
150,000
 
Warrant liabilities
  
 
—  
 
  
 
31,902,349
 
  
 
31,902,349
 
   
 
 
   
 
 
   
 
 
 
Total liabilities
  
 
10,231,475
 
  
 
31,902,349
 
  
 
42,133,824
 
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
  
 
190,582,510
 
  
 
(31,902,350
) 
  
 
158,680,160
 
Shareholders’ equity:
               
Preference shares, $0.0001 par value
  
 
—  
 
  
 
—  
 
  
 
—
 
Class A ordinary shares, $0.0001 par value
  
 
107
 
  
 
320
 
  
 
427
 
Class B ordinary shares, $0.0001 par value
  
 
503
 
  
 
—  
 
  
 
503
 
Additional
paid-in
capital
  
 
4,861,657
 
  
 
17,700,577
 
  
 
22,562,234
 
Accumulated deficit
  
 
137,736
 
  
 
(17,700,896
) 
  
 
(17,563,160
) 
   
 
 
   
 
 
   
 
 
 
Total shareholders’ equity
  
 
5,000,003
 
  
 
1
 
  
 
5,000,004
 
   
 
 
   
 
 
   
 
 
 
Total liabilities and shareholders’ equity
  
$
205,813,988
 
  
$
—  
 
  
$
205,813,988
 
   
 
 
   
 
 
   
 
 
 
A reconciliation of the Class A ordinary shares subject to possible redemption outstanding and Class A ordinary shares outstanding is as follows:
 
                                                                         
   
As of September 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Shares subject to possible redemption - shares outstanding
  
 
19,058,251
 
  
 
(3,190,235
) 
  
 
15,868,016
 
   
 
 
   
 
 
   
 
 
 
Ordinary shares - shares issued and outstanding
  
 
1,066,749
 
  
 
3,190,235
 
  
 
4,256,984
 
   
 
 
   
 
 
   
 
 
 

June 30, 2020 balance sheet:
 
                                                                         
   
As of June 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Total assets
  
$
206,200,737
 
  
$
—  
 
  
$
206,200,737
 
   
 
 
   
 
 
   
 
 
 
Liabilities and Shareholders’ Equity
               
Total current liabilities
  
$
1,167,702
 
  
$
—  
 
  
$
1,167,702
 
Deferred underwriting commissions
  
 
7,043,750
 
  
 
—  
 
  
 
7,043,750
 
Deferred legal fees
  
 
150,000
 
  
 
—  
 
  
 
150,000
 
Warrant liabilities
  
 
—  
 
  
 
14,380,242
 
  
 
14,380,242
 
   
 
 
   
 
 
   
 
 
 
Total liabilities
  
 
8,361,452
 
  
 
14,380,242
 
  
 
22,741,694
 
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
  
 
192,839,280
 
  
 
(14,380,240
) 
  
 
178,459,040
 
Shareholders’ equity:
               
Preference shares, $0.0001 par value
  
 
—  
 
  
 
—  
 
  
 
—  
 
Class A ordinary shares, $0.0001 par value
  
 
84
 
  
 
145
 
  
 
229
 
Class B ordinary shares, $0.0001 par value
  
 
503
 
  
 
—  
 
  
 
503
 
Additional
paid-in
capital
  
 
2,604,910
 
  
 
178,642
 
  
 
2,783,552
 
Retained earnings
  
 
2,394,508
 
  
 
(178,789
) 
  
 
2,215,719
 
   
 
 
   
 
 
   
 
 
 
Total shareholders’ equity
  
 
5,000,005
 
  
 
(2
) 
  
 
5,000,003
 
   
 
 
   
 
 
   
 
 
 
Total liabilities and shareholders’ equity
  
$
206,200,737
 
  
$
—  
 
  
$
206,200,737
 
   
 
 
   
 
 
   
 
 
 
A reconciliation of the Class A ordinary shares subject to possible redemption outstanding and Class A ordinary shares outstanding is as follows:
 
                                                                                     
   
As of June 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Shares subject to possible redemption - shares outstanding
  
 
19,283,928
 
  
 
(1,438,024
) 
  
 
17,845,904
 
   
 
 
   
 
 
   
 
 
 
Ordinary shares - shares issued and outstanding
  
 
841,072
 
  
 
1,438,024
 
  
 
2,279,096
 
   
 
 
   
 
 
   
 
 
 
March 31, 2020 balance sheet:
 
   
As of March 31, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Total assets
  $206,287,199   $—     $206,287,199 
   
 
 
   
 
 
   
 
 
 
Liabilities and Shareholders’ Equity
               
Total current liabilities
  $1,167,388   $—     $1,167,388 
Deferred underwriting commissions
   7,043,750    —      7,043,750 
Deferred legal fees
   150,000    —      150,000 
Warrant liabilities
   —      11,329,888    11,329,888 
   
 
 
   
 
 
   
 
 
 
Total liabilities
   8,361,138    11,329,888    19,691,026 
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
   192,926,060    (11,329,890)    181,596,170 
Shareholders’ equity:
               
Preference shares, $0.0001 par value
   —      —      — 
Class A ordinary shares, $0.0001 par value
   83    114    197 
Class B ordinary shares, $0.0001 par value
   503    —      503 
Additional
paid-in
capital
   2,518,131    (2,871,677)    (353,546) 
Retained earnings
   2,481,284    2,871,565    5,352,849 
   
 
 
   
 
 
   
 
 
 
Total shareholders’ equity
   5,000,001    2    5,000,003 
   
 
 
   
 
 
   
 
 
 
Total liabilities and shareholders’ equity
  $206,287,199   $—     $206,287,199 
   
 
 
   
 
 
   
 
 
 
A reconciliation of the Class A ordinary shares subject to possible redemption outstanding and Class A ordinary shares outstanding is as follows:
 
                                                                                           
   
As of March 31, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Shares subject to possible redemption - shares outstanding
  
 
19,292,606
 
  
 
(1,132,989
) 
  
 
18,159,617
 
   
 
 
   
 
 
   
 
 
 
Ordinary shares - shares issued and outstanding
  
 
832,394
 
  
 
1,132,989
 
  
 
1,965,383
 
   
 
 
   
 
 
   
 
 
 
December 31, 2019 balance sheet:
 
   
As of December 31, 2019
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Total assets
  $204,765,183   $—     $204,765,183 
   
 
 
   
 
 
   
 
 
 
Liabilities and Shareholders’ Equity
               
Total current liabilities
  $979,394   $—     $979,394 
Deferred underwriting commissions
   7,043,750    —      7,043,750 
Deferred legal fees
   150,000    —      150,000 
Warrant liabilities
   —      10,349,417    10,349,417 
   
 
 
   
 
 
   
 
 
 
Total liabilities
   8,173,144    10,349,417    18,522,561 
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
   191,592,030    (10,349,410)    181,242,620 
Shareholders’ equity:
               
Preference shares, $0.0001 par value
   —      —      —   
Class A ordinary shares, $0.0001 par value
   97    104    201 
Class B ordinary shares, $0.0001 par value
   503    —      503 
Additional
paid-in
capital
   3,852,147    (3,852,147)    —   
Retained earnings
   1,147,262    3,852,036    4,999,298 
   
 
 
   
 
 
   
 
 
 
Total shareholders’ equity
   5,000,009    (7)    5,000,002 
   
 
 
   
 
 
   
 
 
 
Total liabilities and shareholders’ equity
  $204,765,183   $—     $204,765,183 
   
 
 
   
 
 
   
 
 
 
A reconciliation of the Class A ordinary shares subject to possible redemption outstanding and Class A ordinary shares outstanding is as follows:
 
                                                                                     
   
As of December 31, 2019
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Shares subject to possible redemption - shares outstanding
  
 
19,159,203
 
  
 
(1,034,941
) 
  
 
18,124,262
 
   
 
 
   
 
 
   
 
 
 
Ordinary shares - shares issued and outstanding
  
 
965,797
 
  
 
1,034,941
 
  
 
2,000,738
 
   
 
 
   
 
 
   
 
 
 

September 30, 2019 balance sheet:
 
   
As of September 30, 2019
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Total assets
  $204,094,833   $—     $204,094,833 
   
 
 
   
 
 
   
 
 
 
Liabilities and Shareholders’ Equity
               
Total current liabilities
  $1,036,867   $—     $1,036,867 
Deferred underwriting commissions
   7,043,750    —      7,043,750 
Deferred legal fees
   150,000    —      150,000 
Warrant liabilities
   —      10,840,587    10,840,587 
   
 
 
   
 
 
   
 
 
 
Total liabilities
   8,230,617    10,840,587    19,071,204 
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
   190,864,210    (10,840,590)    180,023,620 
Shareholders’ equity:
               
Preference shares, $0.0001 par value
   —      —      —   
Class A ordinary shares, $0.0001 par value
   104    109    213 
Class B ordinary shares, $0.0001 par value
   503    —      503 
Additional
paid-in
capital
   4,579,960    (4,411,552)    168,408 
Retained earnings
   419,439    4,411,446    4,830,885 
   
 
 
   
 
 
   
 
 
 
Total shareholders’ equity
   5,000,006    3    5,000,009 
   
 
 
   
 
 
   
 
 
 
Total liabilities and shareholders’ equity
  $204,094,833   $—     $204,094,833 
   
 
 
   
 
 
   
 
 
 
A reconciliation of the Class A ordinary shares subject to possible redemption outstanding and Class A ordinary shares outstanding is as follows:
 
                                                                                        
   
As of September 30, 2019
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Shares subject to possible redemption - shares outstanding
  
 
19,086,421
 
  
 
(1,084,059
) 
  
 
18,002,362
 
   
 
 
   
 
 
   
 
 
 
Ordinary shares - shares issued and outstanding
  
 
1,038,579
 
  
 
1,084,059
 
  
 
2,122,638
 
   
 
 
   
 
 
   
 
 
 
Summary of restatement statements of operations
Year ended December 31, 2020 statement of operations:
 
   
Year Ended December 31, 2020
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  $4,791,727   $—     $4,791,727 
   
 
 
   
 
 
   
 
 
 
Loss from operations
   (4,791,727)    —      (4,791,727) 
Change in fair value of warrant liability
   —      (37,221,917)    (37,221,917) 
Gain on investments (net), dividends and interest, held in Trust Account
   1,742,713    —      1,742,713 
   
 
 
   
 
 
   
 
 
 
Net loss
  $(3,049,014)   $(37,221,917)   $(40,270,931) 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
   20,125,000    —      20,125,000 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  $0.07   $—     $0.07 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
   5,031,250    —      5,031,250 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  $(0.89)   $—     $(8.29) 
   
 
 
   
 
 
   
 
 
 
Three months ended September 30, 2020 statement of operations:
 
                                                                         
   
Three Months Ended September 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
2,338,004
 
  
$
—  
 
  
$
2,338,004
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(2,338,004
) 
  
 
—  
 
  
 
(2,338,004
) 
Change in fair value of warrant liability
  
 
—  
 
  
 
(17,522,107
) 
  
 
(17,522,107
) 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
81,232
 
  
 
—  
 
  
 
81,232
 
   
 
 
   
 
 
   
 
 
 
Net loss
  
$
(2,256,772
) 
  
$
(17,522,107
) 
  
$
(19,778,879
) 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
—  
 
  
$
—  
 
  
$
—  
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.46
) 
  
$
—  
 
  
$
(3.95
) 
   
 
 
   
 
 
   
 
 
 

Nine months ended September 30, 2020 statement of operations:
 
                                                                   
   
Nine Months Ended September 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
2,708,421
 
  
$
—  
 
  
$
2,708,421
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(2,708,421
) 
  
 
—  
 
  
 
(2,708,421
) 
Change in fair value of warrant liability
  
 
—  
 
  
 
(21,552,932
) 
  
 
(21,552,932
) 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
1,698,895
 
  
 
—  
 
  
 
1,698,895
 
   
 
 
   
 
 
   
 
 
 
Net loss
  
$
(1,009,526
) 
  
$
(21,552,932
) 
  
$
(22,562,458
) 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
0.08
 
  
$
—  
 
  
$
0.08
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.54
) 
  
$
—  
 
  
$
(4.82
) 
   
 
 
   
 
 
   
 
 
 
Three months ended June 30, 2020 statement of operations:
 
                                                                         
   
Three Months Ended June 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
123,634
 
  
$
—  
 
  
$
123,634
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(123,634
) 
  
 
—  
 
  
 
(123,634
) 
Change in fair value of warrant liability
  
 
—
 
  
 
(3,050,354
) 
  
 
(3,050,354
) 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
36,858
 
  
 
—  
 
  
 
36,858
 
   
 
 
   
 
 
   
 
 
 
Net loss
  
$
(86,776
) 
  
$
(3,050,354
) 
  
$
(3,137,130
) 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
0.00
 
  
$
—  
 
  
$
0.00
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.02
) 
  
$
—  
 
  
$
(0.63
) 
   
 
 
   
 
 
   
 
 
 

Six months ended June 30, 2020 statement of operations:
 
                                                             
   
Six Months Ended June 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
370,417
 
  
$
—  
 
  
$
370,417
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(370,417
) 
  
 
—  
 
  
 
(370,417
) 
Change in fair value of warrant liability
  
 
—  
 
  
 
(4,030,825
) 
  
 
(4,030,825
) 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
1,617,663
 
  
 
—  
 
  
 
1,617,663
 
   
 
 
   
 
 
   
 
 
 
Net income (loss)
  
$
1,247,246
 
  
$
(4,030,825
) 
  
$
(2,783,579
) 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
0.08
 
  
$
—  
 
  
$
0.08
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.07
) 
  
$
—  
 
  
$
(0.87
) 
   
 
 
   
 
 
   
 
 
 
Three months ended March 31, 2020 statement of operations:
 
                                                                            
   
Three Months Ended March 31, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
246,783
 
  
$
—  
 
  
$
246,783
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(246,783
) 
  
 
—  
 
  
 
(246,783
) 
Change in fair value of warrant liability
  
 
—
 
  
 
(980,471
) 
  
 
(980,471
) 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
1,580,805
 
  
 
—  
 
  
 
1,580,805
 
   
 
 
   
 
 
   
 
 
 
Net income
  
$
1,334,022
 
  
$
(980,471
) 
  
$
353,551
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
0.08
 
  
$
—  
 
  
$
0.08
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.05
) 
  
$
—  
 
  
$
(0.24
) 
   
 
 
   
 
 
   
 
 
 

Period from April 9, 2019 (inception) to December 31, 2019 statement of operations:
 
   
Period from April 9, 2019 (inception)

to December 31, 2019
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  $710,080   $600,675   $1,310,755 
   
 
 
   
 
 
   
 
 
 
Loss from operations
   (710,080)    (600,675)    (1,310,755) 
Change in fair value of warrant liability
   —      5,503,291    5,503,291 
Gain on investments (net), dividends and interest, held in Trust Account
   1,857,342    —      1,857,342 
   
 
 
   
 
 
   
 
 
 
Net income
  $1,147,262   $4,902,616   $6,049,878 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
   20,125,000    —      20,125,000 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  $0.08   $—     $0.08 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
   5,031,250    —      5,031,250 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  $(0.08)   $—     $0.90 
   
 
 
   
 
 
   
 
 
 
Three months ended September 30, 2019 statement of operations:
 
                                                                                  
   
Three Months Ended September 30, 2019

(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
449,938
 
  
$
600,675
 
  
$
1,050,613
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(449,938
) 
  
 
(600,675
) 
  
 
(1,050,613
) 
Change in fair value of warrant liability
  
 
—  
 
  
 
5,012,121
 
  
 
5,012,121
 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
885,983
 
  
 
—  
 
  
 
885,983
 
   
 
 
   
 
 
   
 
 
 
Net income
  
$
436,045
 
  
$
4,411,446
 
  
$
4,847,491
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
0.04
 
  
$
—  
 
  
$
0.04
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.09
) 
  
$
—  
 
  
$
0.79
 
   
 
 
   
 
 
   
 
 
 

Period from April 9, 2019 (inception) to September 30, 2019 statement of operations:
 
                                                                            
   
Period from April 9, 2019 (inception)

to September 30, 2019
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
General and administrative expenses
  
$
466,544
 
  
$
600,675
 
  
$
1,067,219
 
   
 
 
   
 
 
   
 
 
 
Loss from operations
  
 
(466,544
) 
  
 
(600,675
) 
  
 
(1,067,219
) 
Change in fair value of warrant liability
  
 
—  
 
  
 
5,012,121
 
  
 
5,012,121
 
Gain on investments (net), dividends and interest, held in Trust Account
  
 
885,983
 
  
 
—  
 
  
 
885,983
 
   
 
 
   
 
 
   
 
 
 
Net income
  
$
419,439
 
  
$
4,411,446
 
  
$
4,830,885
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class A ordinary shares
  
 
20,125,000
 
  
 
—  
 
  
 
20,125,000
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net income per share, Class A
  
$
0.04
 
  
$
—  
 
  
$
0.04
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted weighted average shares outstanding of Class B ordinary shares
  
 
5,031,250
 
  
 
—  
 
  
 
5,031,250
 
   
 
 
   
 
 
   
 
 
 
Basic and diluted net loss per share, Class B
  
$
(0.09
) 
  
$
—  
 
  
$
0.79
 
   
 
 
   
 
 
   
 
 
 
Summary of restatement of cash flows
Year ended December 31, 2020 statement of cash flows:
 
   
Year Ended December 31, 2020
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Net loss
  $(3,049,014)   $(37,221,917)   $(40,270,931) 
Adjustments to reconcile net loss to net cash used in operating activities
   (1,742,713)    37,221,917    35,479,204 
Net cash used in operating activities
   (777,074)    —      (777,074) 
Net cash provided by investing activities
   325,000    —      325,000 
Net cash provided by (used in) financing activities
   —    —      —   
   
 
 
   
 
 
   
 
 
 
Net change in cash
  $(452,074)   $    $(452,074) 
   
 
 
   
 
 
   
 
 
 
Noncash investing and financing activities:
               
Change in value of Class A ordinary shares subject to possible redemption
  $(3,049,010)   $(37,221,920)   $(40,270,930) 
Nine months ended September 30, 2020 statement of cash flows:
 
                                                                   
   
Nine Months Ended September 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Net loss
  
 
$
(1,009,526
)
 
  
 
$
(21,552,932
)
 
  
 
$
(22,562,458
)
 
Adjustments to reconcile loss to net cash used in operating activities
  
 
(1,698,895
) 
  
 
21,552,932
 
  
 
19,854,037
 
Net cash used in operating activities
  
 
(577,740
) 
  
 
—  
 
  
 
(577,740
) 
Net cash provided by investing activities
  
 
325,000
 
  
 
—  
 
  
 
325,000
 
Net cash provided by (used in) financing activities
  
 
—
 
  
 
—  
 
  
 
—
 
   
 
 
   
 
 
   
 
 
 
Net change in cash
  
$
(252,740
) 
  
$
—  
 
  
$
(252,740
) 
   
 
 
   
 
 
   
 
 
 
Noncash investing and financing activities:
               
Change in value of Class A ordinary shares subject to possible redemption
  
$
(1,009,520
) 
  
$
(21,552,940
) 
  
$
(22,562,460
) 
Six months ended June 30, 2020 statement of cash flows:
 
   
Six Months Ended June 30, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
                
Net income (loss)  
$
1,247,246   
$
(4,030,825)   
$
(2,783,579) 
Adjustments to reconcile net income (loss) to net cash used in operating activities
   (1,617,663)    4,030,825    2,413,162 
Net cash used in operating activities
   (124,809)    —      (124,809) 
Net cash provided by (used in) investing activities
   —      —      —   
Net cash provided by (used in) financing activities
   —      —      —   
   
 
 
   
 
 
   
 
 
 
Net change in cash
  $(124,809)   $—     $(124,809) 
   
 
 
   
 
 
   
 
 
 
Noncash investing and financing activities:               
Change in value of Class A ordinary shares subject to possible redemption
  $1,247,250    (4,030,830)    (2,783,580) 

Three months ended March 31, 2020 statement of cash flows:
 
                                                                         
   
Three Months Ended March 31, 2020
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
             
Net income
  
$
1,334,022
 
  
$
(980,471
) 
  
$
353,551
 
Adjustments to reconcile net income to net cash used in operating activities
  
 
(1,580,805
) 
  
 
980,471
 
  
 
(600,334
) 
Net cash used in operating activities
  
 
(28,639
) 
  
 
—  
 
  
 
(28,639
) 
Net cash provided by (used in) investing activities
  
 
—  
 
  
 
—  
 
  
 
—  
 
Net cash provided by (used in) financing activities
  
 
—  
 
  
 
—  
 
  
 
—  
 
   
 
 
   
 
 
   
 
 
 
Net change in cash
  
$
(28,639
) 
  
$
—  
 
  
$
(28,639
) 
   
 
 
   
 
 
   
 
 
 
Noncash investing and financing activities:
               
Change in value of Class A ordinary shares subject to possible redemption
  
$
1,334,030
 
  
$
(980,480
) 
  
$
353,550
 
Period from April 9, 2019 (inception) to December 31, 2019 statement of cash flows:
 
   
Period from April 9, 2019 (inception)

To December 31, 2019
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Net income
  $1,147,262   $4,902,616   $6,049,878 
Adjustments to reconcile net income to net cash used in operating activities
   (1,857,342)    (4,902,616)    (6,759,958) 
Net cash used in operating activities
   (241,682)    —      (241,682) 
Net cash used in investing activities
   (201,250,000)    —      (201,250,000) 
Net cash provided by financing activities
   203,002,023    —      203,002,023 
   
 
 
   
 
 
   
 
 
 
Net change in cash
  $1,510,341   $—     $1,510,341 
   
 
 
   
 
 
   
 
 
 
Noncash investing and financing activities:
               
Change in value of Class A ordinary shares subject to possible redemption
  $191,592,030   $(10,349,410)   $181,242,620 
Initial fair value of warrant liability
   —      (15,852,708)    (15,852,708) 
Period from April 9, 2019 (inception) to September 30, 2019 statement of cash flows:
 
   
Period from April 9, 2019 (inception)

To September 30, 2019
 
(Unaudited)
 
   
As Previously
Reported
   
Restatement
Adjustment
   
As Restated
 
Net income
  $419,439   $4,411,446   $4,830,885 
Adjustments to reconcile net income to net cash used in operating activities
   (885,983)    (4,411,446)    (5,297,429) 
Net cash used in operating activities
   (207,200)    —      (207,200) 
Net cash used in investing activities
   (201,250,000)    —      (201,250,000) 
Net cash provided by financing activities
   203,238,700    —      203,238,700 
   
 
 
   
 
 
   
 
 
 
Net change in cash
  $1,781,500   $—     $1,781,500 
   
 
 
   
 
 
   
 
 
 
Noncash investing and financing activities:
               
Change in value of Class A ordinary shares subject to possible redemption
  $190,864,210   $(10,840,590)   $180,023,620 
Initial fair value of warrant liability
   —      (15,852,708)    (15,852,708)