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Statement of Cash Flows
10 Months Ended
Dec. 31, 2020
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (53,732)
Adjustments to reconcile net loss to net cash used in operating activities:  
Payment of formation and operating costs through promissory note 10,031
Interest earned on marketable securities held in Trust Account (95,349)
Changes in operating assets and liabilities:  
Prepaid expenses (448,935)
Accrued expenses 31,751
Net cash used in operating activities (556,234)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (508,550,000)
Net cash used in investing activities (508,550,000)
Cash Flows from Financing Activities:  
Proceeds from issuance of Class B ordinary shares to the Sponsor 25,000
Proceeds from sale of Units, net of underwriting discounts paid 498,379,000
Proceeds from sale of Private Placement Warrants 12,171,000
Repayment of promissory note – related party (207,632)
Payments of offering costs (473,433)
Net cash provided by financing activities 509,893,935
Net Change in Cash 787,701
Cash – Ending 787,701
Non-Cash Investing and Financing Activities:  
Initial classification of Class A ordinary shares subject to possible redemption 487,094,360
Change in value of Class A ordinary shares subject to possible redemption (43,380)
Deferred underwriting fee payable 17,799,250
Payment of offering costs through promissory note $ 197,601