Restatement of Previously Issued Financial Statements (Tables)

4 Months Ended

Dec. 31, 2020

Summary of Impact of the Restatement on the Balance Sheets, Statements of Operations and Statements of Cash Flows

The impact of the restatement on the balance sheets, statements of operations and statements of cash flows for the Affected Period is presented below. The restatement had no impact on net cash flows from operating, investing or financing activities.

	As of December 31, 2020
	As Previously Reported			Restatement Adjustment			As Restated
Balance Sheet
Total assets	$	346,090,177		$	-		$	346,090,177
Liabilities and stockholders’ equity
Total current liabilities	$	190,137		$	-		$	190,137
Deferred underwriting commissions		12,075,000			-			12,075,000
Derivative warrant liabilities		-			43,409,000			43,409,000
Total liabilities		12,265,137			43,409,000			55,674,137
Class A common stock, $0.0001 par value; shares subject to possible redemption		328,825,030			(43,409,000	)		285,416,030
Stockholders’ equity
Preferred stock- $0.0001 par value		-			-			-
Class A common stock - $0.0001 par value		162			434			596
Class B common stock - $0.0001 par value		863			-			863
Additional paid-in-capital		5,243,708			17,182,506			22,426,214
Accumulated deficit		(244,723	)		(17,182,940	)		(17,427,663	)
Total stockholders’ equity		5,000,010			-			5,000,010
Total liabilities and stockholders’ equity	$	346,090,177		$	-		$	346,090,177

	Period From September 1, 2020 (Inception) Through December 31, 2020
	As Previously Reported			Restatement Adjustment			As Restated
Statement of Operations
Loss from operations	$	(248,295	)	$	(593,330	)	$	(841,625	)
Other (expense) income:
Change in fair value of derivative warrant liabilities		-			(15,515,670	)		(15,515,670	)
Financing costs - derivative warrant liabilities		-			(1,073,940	)		(1,073,940	)
Income from investments held in Trust Account		3,572			-			3,572
Total other (expense) income		3,572			(16,589,610	)		(16,586,038	)
Net loss	$	(244,723	)	$	(17,182,940	)	$	(17,427,663	)
Basic and Diluted weighted-average Class A common stock outstanding		32,910,507			(2,813,576	)		30,096,931
Basic and Diluted net loss per Class A common shares	$	-					$	-
Basic and Diluted weighted-average Class B common stock outstanding		8,959,895			1,513,184			10,473,079
Basic and Diluted net loss per Class B common shares	$	(0.03	)	$	(1.63	)	$	(1.66	)

	Period From September 1, 2020 (Inception) Through December 31, 2020
	As Previously Reported			Restatement Adjustment			As Restated
Statement of Cash Flows
Net loss	$	(244,723	)	$	(17,182,940	)	$	(17,427,663	)
Adjustments to reconcile net loss to net cash used in operating activities		(3,572	)		17,182,940			17,179,368
Net cash used in operating activities		(579,288	)		-			(579,288	)
Net cash used in investing activities		(345,000,000	)		-			(345,000,000	)
Net cash provided by financing activities		346,217,113			-			346,217,113
Net change in cash	$	637,825		$	-		$	637,825