RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2021

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

Schedule of impact of the restatement on the Company's financial statements

The impact of the restatement on the Company’s financial statements is reflected in the following tables.

	As Previously
Balance Sheet as of October 5, 2020 (audited)	Reported		Adjustment		As Restated
Class A common stock subject to possible redemption	$	180,886,210	$	21,113,790	$	202,000,000
Class A common stock	$	209	$	(209)	$	—
Additional paid-in capital	$	5,348,045	$	(5,348,045)	$	—
Accumulated deficit	$	(348,823)	$	(15,765,536)	$	(16,114,359)
Total Stockholders’ Equity (Deficit)	$	5,000,006	$	(21,113,790)	$	(16,113,784)
Balance Sheet as of December 31, 2020 (audited)
Class A common stock subject to possible redemption	$	162,709,513	$	39,694,487	$	202,404,000
Class A common stock	$	393	$	(393)	$	—
Additional paid-in capital	$	23,896,401	$	(23,896,401)	$	—
Accumulated deficit	$	(18,897,292)	$	(15,797,693)	$	(34,694,985)
Total Stockholders’ Equity (Deficit)	$	5,000,003	$	(39,694,487)	$	(34,694,484)
Balance Sheet as of March 31, 2021
Class A common stock subject to possible redemption	$	177,606,921	$	24,828,491	$	202,435,412
Class A common stock	$	247	$	(247)	$	—
Additional paid-in capital	$	8,999,139	$	(8,999,139)	$	—
Accumulated deficit	$	(3,999,878)	$	(15,829,105)	$	(19,828,983)
Total Stockholders’ Equity (Deficit)	$	5,000,009	$	(24,828,491)	$	(19,828,482)
Balance Sheet as of June 30, 2021
Class A common stock subject to possible redemption	$	176,536,552	$	25,890,086	$	202,426,638
Class A common stock	$	257	$	(257)	$	—
Additional paid-in capital	$	10,069,498	$	(10,069,498)	$	—
Accumulated deficit	$	(5,070,252)	$	(15,820,331)	$	(20,890,583)
Total Stockholders’ Equity (Deficit)	$	5,000,004	$	(25,890,086)	$	(20,890,082)
Statement of Operations for the Period from July 7, 2020 (Inception) through December 31, 2020 (audited)
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption		17,946,270		(8,100,168)		9,846,102
Basic and diluted net loss per share, Class A common stock subject to possible redemption	$	—	$	(1.27)	$	(1.27)
Basic and diluted weighted average shares outstanding, Class B common stock		6,047,013		(1,043,115)		5,003,898
Basic and diluted net loss per share, Class B common stock	$	(3.13)	$	1.86	$	(1.27)
Statement of Operations for the Three Months Ended March 31, 2021
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption		16,109,853		3,930,147		20,040,000

Basic and diluted net income per share, Class A common stock subject to possible redemption	$	—	$	0.60	$	0.60
Weighted average shares outstanding of Class B common stock		8,940,147		(3,970,147)		4,970,000
Basic and diluted net income per share, Class B common stock	$	1.67	$	(1.07)	$	0.60
Statement of Operations for the Three Months Ended June 30, 2021
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption		17,573,434		2,466,566		20,040,000
Basic and diluted net loss per share, Class A common stock subject to possible redemption	$	—	$	(0.04)	$	(0.04)
Basic and diluted weighted average shares outstanding, Class B common stock		7,476,566		(2,506,566)		4,970,000
Basic and diluted net loss per share, Class B common stock	$	(0.14)	$	0.10	$	(0.04)
Statement of Operations for the Six Months Ended June 30, 2021
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption		16,845,687		3,194,313		20,040,000
Basic and diluted net income per share, Class A common stock subject to possible redemption	$	—	$	0.55	$	0.55
Basic and diluted weighted average shares outstanding, Class B common stock		8,204,313		(3,234,313)		4,970,000
Basic and diluted net income per share, Class B common stock	$	1.69	$	(1.14)	$	0.55
Statement of Changes in Stockholders’ Equity (Deficit) for the Period from July 7, 2020 (Inception) through December 31, 2020 (audited)
Sale of 20,040,000 Units, net of underwriting discount	$	181,257,332	$	(181,257,332)	$	—
Class A common stock subject to possible redemption	$	(162,709,513)	$	162,709,513	$	—
Accretion for Class A common stock subject to redemption amount	$	—	$	(17,672,392)	$	(17,672,392)
Total shareholders’ equity (deficit)	$	5,000,003	$	(39,694,487)	$	(34,694,484)
Statement of Changes in Stockholders’ Equity (Deficit) for the Three Months Ended March 31, 2021
Change in value of Class A common stock subject to possible redemption	$	(14,897,408)	$	14,897,408	$	—
Accretion for Class A common stock subject to redemption amount	$	—	$	(31,412)	$	(31,412)
Total shareholders’ equity (deficit)	$	5,000,009	$	(24,828,491)	$	(19,828,482)

Statement of Changes in Stockholders’ Equity (Decifit) for the Three Months Ended June 30, 2021
Change in value of Class A common stock subject to possible redemption	$	1,070,369	$	(1,070,369)	$	—
Accretion for Class A common stock subject to redemption amount	$	—	$	8,774	$	8,774
Total shareholders’ equity (deficit)	$	5,000,004	$	(25,890,086)	$	(20,890,082)
Statement of Changes in Stockholders’ Equity (Decifit) for the Six Months Ended June 30, 2021
Change in value of Class A common stock subject to possible redemption	$	(13,827,039)	$	13,827,039	$	—
Accretion for Class A common stock subject to redemption amount	$	—	$	(22,638)	$	(22,638)
Total shareholders’ equity (deficit)	$	5,000,004	$	(25,890,086)	$	(20,890,082)
Statement of Cash Flows for the Period from July 7, 2020 (Inception) through December 31, 2020 (audited)
Initial classification of Class A common stock subject to possible redemption	$	181,257,332	$	21,146,668	$	202,404,000
Change in value of Class A common stock subject to possible redemption	$	(29,039,199)	$	29,039,199	$	—
Statement of Cash Flows for the Three Months Ended March 31, 2021
Change in value of Class A common stock subject to possible redemption	$	14,897,408	$	(14,865,996)	$	31,412
Statement of Cash Flows for the Six Months Ended June 30, 2021
Change in value of Class A common stock subject to possible redemption	$	13,827,039	$	(13,804,401)	$	22,638