Restatement of Previously Issued Financial Statements (Tables)

6 Months Ended

Dec. 31, 2020

Summary of Effect of the Restatement on Each Financial Statement Line Items as on Dates and Period Wise

The following table summarizes the effect of the restatement on each financial statement line item as of the dates, and for the period, indicated:


	As Previously Reported			Adjustment			As Restated
Consolidated Balance Sheet as of December 31, 2020
Warrant liabilities	$	—		$	47,516,962		$	47,516,962
Total liabilities		9,269,025			47,516,962			56,785,987
Class A ordinary shares subject to possible redemption		241,263,980			(47,516,958	)		193,747,022
Class A ordinary shares		131			476			607
Additional paid-in capital		5,509,476			34,117,986			39,627,462
Accumulated deficit		(510,233	)		(34,118,466	)		(34,628,699	)
Total stockholders’ equity	$	5,000,010		$	(4	)	$	5,000,006
Consolidated Statement of Operations for the Three Months Ended December 31, 2020
Formation and operating costs	$	529,054		$	511,177		$	1,040,231
Change in fair value of warrant liabilities		—			(33,607,289	)		(33,607,289	)
Other income (expense), net		19,267			(33,607,289	)		(33,588,022	)
Net loss		(509,787	)		(34,118,466	)		(34,628,253	)
Basic and diluted weighted average shares outstanding, Class A ordinary shares subject to possible redemption		24,126,398			(4,751,696	)		19,374,702
Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares		6,948,070			723,136			7,671,206
Basic and diluted net loss per share, Non-redeemable ordinary shares	$	(0.07	)	$	(4.44	)	$	(4.51	)
Consolidated Statement of Operations for the Period From July 8, 2020 (Inception) through December 31, 2020
Formation and operating costs	$	529,500		$	511,177		$	1,040,677
Change in fair value of warrant liabilities		—			(33,607,289	)		(33,607,289	)
Other income (expense), net		19,267			(33,607,289	)		(33,588,022	)
Net loss		(510,233	)		(34,118,466	)		(34,628,699	)
Basic and diluted weighted average shares outstanding, Class A ordinary shares subject to possible redemption		24,126,398			(4,751,696	)		19,374,702
Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares		6,614,900			378,003			6,992,903
Basic and diluted net loss per share, Non-redeemable ordinary shares	$	(0.08	)	$	(4.87	)	$	(4.95	)
Condensed Consolidated Statement of Changes in Stockholders’ Equity for the Three Months Ended December 31, 2020 and for the Period from July 8, 2020 (Inception) Through December 31, 2020
Issuance of Class A ordinary shares, net of underwriting discounts and offering costs		239,912,223			(8,475,856	)		231,436,367
Proceeds in excess of fair value upon the sale of Private Warrants		6,837,000			(4,922,640	)		1,914,360
Consolidated Statement of Cash Flows for the Period From July 8, 2020 (Inception) through December 31, 2020
Cash Flows from Operating Activities:
Net loss	$	(510,233	)	$	(34,118,466	)	$	(34,628,699	)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant liabilities		—			33,607,289			33,607,289
Non-Cash Investing and Financing Activities:
Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities	$	—		$	13,909,673		$	13,909,673