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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS [Abstract]  
Accounting Standards Update and Change in Accounting Principle
The impact of the restatement on the Post IPO Balance Sheet as of October 23, 2020 is presented below:
 
Balance Sheet as of October 23, 2020 (unaudited)
 
As Previously
Reported
  
Adjustment
  
As Revised
 
Class A common stock subject to possible redemption
 
$
177,699,344
  
$
22,300,661
  
$
200,000,000
 
Class A common stock
 
$
223
  
$
(223
)
 
$
—
 
Additional paid-in capital
 
$
5,502,767
  
$
(5,502,767
)
 
$
—
 
Accumulated deficit
 
$
(503,559
)
 
$
(16,797,671
)
 
$
(17,301,230
)
Total Stockholders’ Equity (Deficit)
 
$
5,000,006
  
$
(22,300,661
)
 
$
(17,300,655
)

The impact of the restatement on the audited balance sheet as of December 31, 2020 is presented below:
 
Balance Sheet as of December 31, 2020 (audited)
 
As Reported As Previously Restated in 10-K/A Amendment No.1
  
Adjustment
  
As Revised
 
Class A common stock subject to possible redemption
 
$
171,826,390
  
$
35,272,550
  
$
207,098,940
 
Class A common stock
 
$
353
  
$
(353
)
 
$
—
 
Additional paid-in capital
 
$
17,873,488
  
$
(17,873,488
)
 
$
—
 
Accumulated deficit
 
$
(12,874,353
)
 
$
(17,398,709
)
 
$
(30,273,062
)
Total Stockholders’ Equity (Deficit)
 
$
5,000,006
  
$
(35,272,550
)
 
$
(30,272,544
)

The impact to the reported amounts of weighted average shares outstanding and basic and diluted earnings per common shares is presented below for the period ended December 31, 2020:
 
Earnings per Share for the period from August 20, 2020
(Inception) through December 31, 2020 (audited)
 
As Reported as Previously Restated in Form 10-K/A Amendment No.1
  
Adjustment
  
As Restated
 
Basic and diluted weighted average shares outstanding, Class A common stock
  
20,459,360
   
(9,692,855
)
  
17,533,423
 
Basic and diluted net loss per ordinary share, Class A common stock
 
$
—
  
$
(0.83
)
 
$
(0.83
)
Basic and diluted weighted average shares outstanding, Class B common stock
  
5,059,158
   (338,791)
  
4,720,367
 
Basic and diluted net loss per ordinary share, Class B common stock
 
$
(2.54
)
 
$
1.71
  
$
(0.83
)

The impact of the restatement to the previously reported as restated statement of cash flows for the period ended December 31, 2020, is presented below:
 
 
Statement of Cash Flows for the period from August
20, 2020 (Inception) through December 31, 2020
(audited)
 
As Reported as Previously Restated in Form 10-K/A Amendment No.1
  
Adjustment
  
As Restated
 
Initial classification of Class A ordinary shares subject to possible redemption
 
$
184,182,830
  
$
(184,182,830
)
 
$
—
 
Change in value of Class A ordinary shares subject to possible redemption
 
$
(12,356,443
)
 
$
12,356,443
  
$
—
 
 
The impact of the restatement on the audited Statement of Shareholders’ Equity (Deficit) is presented below:
 
Condensed Statement of Changes in Shareholders’
Equity (Deficit) for the period ended December 31,
2020 (audited)
 
As Reported as Previously Restated in Form 10-K/A Amendment No.1
  
Adjustment
  
As Restated
 
Sale of 20,709,894 Class A common stock, net of underwriting discounts
 
$
188,119,780
  
$
(188,119,780
)
 
$
—
 
Accretion for Class A common stock to redemption amount
 
$
—
  
$
(18,988,246
)
 
$
(18,988,246
)
Initial value of ordinary shares subject to possible redemption at IPO date
 
$
(171,826,390
)
 
$
171,826,390
  
$
—
 
Total Shareholders’ Equity (Deficit)
 
$
5,000,006
  
$
(35,272,550
)
 
$
(30,272,544
)