Restatement of Previously Issued Financial Statements (Tables)

5 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Schedule of statements of operations

	As of December 31, 2020
	As Previously			Restatement
	Reported			Adjustment			As Restated
Balance Sheet
Total assets	$	601,885,133		$	-		$	601,885,133
Liabilities and stockholders’ equity
Total current liabilities	$	180,350		$	-		$	180,350
Deferred underwriting commissions		21,000,000			-			21,000,000
Derivative warrant liabilities		-			48,950,001			48,950,001
Total liabilities		21,180,350			48,950,001			70,130,351
Class A common stock, $0.0001 par value; shares subject to possible redemption		575,704,780			(48,950,000	)		526,754,780
Stockholders’ equity
Preferred stock- $0.0001 par value		-			-			-
Class A common stock - $0.0001 par value		243			489			732
Class B common stock - $0.0001 par value		1,500			-			1,500
Additional paid-in-capital		5,180,632			14,992,961			20,173,593
Accumulated deficit		(182,372	)		(14,993,450	)		(15,175,822	)
Total stockholders’ equity		5,000,003			-			5,000,003
Total liabilities and stockholders’ equity	$	601,885,133		$	-		$	601,885,133

	As of September 30, 2020
	As Previously			Restatement
	Reported			Adjustment			As Restated
Unaudited Condensed Balance Sheet
Total assets	$	602,386,112		$	-		$	602,386,112
Liabilities and stockholders’ equity
Total current liabilities	$	576,520		$	-		$	576,520
Deferred underwriting commissions		21,000,000			-			21,000,000
Derivative warrant liabilities		-			35,103,330			35,103,330
Total liabilities		21,576,520			35,103,330			56,679,850
Class A common stock, $0.0001 par value; shares subject to possible redemption		575,809,590			(35,103,330	)		540,706,260
Stockholders’ equity
Preferred stock- $0.0001 par value		-			-			-
Class A common stock - $0.0001 par value		242			351			593
Class B common stock - $0.0001 par value		1,500			-			1,500
Additional paid-in-capital		5,075,823			1,146,429			6,222,252
Accumulated deficit		(77,563	)		(1,146,780	)		(1,224,343	)
Total stockholders’ equity		5,000,002			-			5,000,002
Total liabilities and stockholders’ equity	$	602,386,112		$	-		$	602,386,112

Schedule of statements of operations

	For the period from July 20, 2020 (inception) through December 31, 2020
	As Previously			Restatement
	Reported			Adjustment			As Restated
Statement of Operations
Loss from operations	$	(236,276	)	$	-		$	(236,276	)
Other (expense) income:
Change in fair value of derivative warrant liabilities		-			(13,646,670	)		(13,646,667	)
Financing costs – derivative warrant liabilities		-			(1,346,780	)		(1,346,780	)
Interest earned on investments held in Trust Account		53,904			-			53,904
Total other (expense) income		53,904			(14,993,450	)		(14,939,546	)
Net loss	$	(182,372	)	$	(14,993,450	)	$	(15,175,822	)
Basic and Diluted weighted-average Class A common stock outstanding		60,000,000						60,000,000
Basic and Diluted net loss per Class A share	$	-					$	-
Basic and Diluted weighted-average Class B common stock outstanding		15,000,000						15,000,000
Basic and Diluted net loss per Class B share	$	(0.01	)	$	(1.00	)	$	(1.01	)

	For the period from July 20, 2020 (inception) through September 30, 2020
	As Previously			Restatement
	Reported			Adjustment			As Restated
Unaudited Condensed Statement of Operations
Loss from operations	$	(77,563	)	$	-		$	(77,563	)
Other (expense) income:
Fair value adjustment on derivative warrant liabilities		-			200,000			200,000
Financing costs – derivative warrant liabilities		-			(1,346,780	)		(1,346,780	)
Interest earned on investments held in Trust Account		-			-			-
Total other (expense) income		-			(1,146,780	)		(1,146,780	)
Net loss	$	(77,563	)	$	(1,146,780	)	$	(1,224,343	)
Basic and Diluted weighted-average Class A common stock outstanding		60,000,000						60,000,000
Basic and Diluted net loss per Class A share	$	-					$	-
Basic and Diluted weighted-average Class B common stock outstanding		15,000,000						15,000,000
Basic and Diluted net loss per Class B share	$	(0.01	)	$	0.02		$	(0.08	)

Schedule of statements of cash flows

	For the period from July 20, 2020 (inception) through December 31, 2020
	As Previously			Restatement
	Reported			Adjustment			As Restated
Statement of Cash Flows
Net loss	$	(182,372	)	$	(14,993,450	)	$	(15,175,822	)
Adjustment to reconcile net loss to net cash used in operating activities		(52,569	)		14,993,450			14,940,881
Net cash used in operating activities		(486,337	)		-			(486,337	)
Net cash used in investing activities		(600,000,000	)		-			(600,000,000	)
Net cash provided by financing activities		601,970,034			-			601,970,034

	For the period from July 20, 2020 (inception) through September 30, 2020
	As Previously			Restatement
	Reported			Adjustment			As Restated
Unaudited Condensed Statement of Cash Flows
Net loss	$	(77,563	)	$	(1,146,780	)	$	(1,224,343	)
Adjustment to reconcile net loss to net cash used in operating activities		1,335			1,146,780			1,148,115
Net cash used in operating activities		(3,490	)		-			(3,490	)
Net cash used in investing activities		(600,000,000	)		-			(600,000,000	)
Net cash provided by financing activities		601,990,820			-			601,990,820