RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

3 Months Ended

Dec. 31, 2020

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

Schedule of impact of restatement on the balance sheets and statements of operations

	As of December 31, 2020
	As Previously		Restatement
	Reported		Adjustment		As Restated
Balance Sheet
Total assets	$	416,346,780	$	—	$	416,346,780
Liabilities and Shareholders’ equity
Total current liabilities	$	416,521	$	—	$	416,521
Deferred underwriting commissions		14,490,000		—		14,490,000
Derivative liabilities		—		40,532,280		40,532,280
Total liabilities		14,906,521		40,532,280		55,438,801
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption		396,440,250		(40,532,280)		355,907,970
Shareholders’ equity
Preference shares - $0.0001 par value		—		—		—
Class A ordinary shares - $0.0001 par value		176		405		581
Class B ordinary shares - $0.0001 par value		1,035		—		1,035
Additional paid-in-capital		5,013,277		11,784,745		16,798,022
Accumulated deficit		(14,479)		(11,785,150)		(11,799,629)
Total shareholders’ equity		5,000,009		—		5,000,009
Total liabilities and shareholders’ equity	$	416,346,780	$	—	$	416,346,780

	Period From September 28, 2020 (Inception) Through December 31, 2020
	As Previously		Restatement
	Reported		Adjustment		As Restated
Statement of Operations
Loss from operations	$	(35,004)	$	(35,004)
Other (expense) income:
Change in fair value of derivative liabilities		—		(10,659,080)		(10,659,080)
Transaction costs - derivative liabilities		—		(1,126,070)		(1,126,070)
Net gain from investments held in Trust Account		20,525		—		20,525
Total other (expense) income		20,525		(11,785,150)		(11,764,625)
Net loss	$	(14,479)	$	(11,785,150)	$	(11,799,629)
Basic and Diluted weighted-average Class A ordinary common stock		41,400,000		—		41,400,000
Basic and Diluted net loss per Class A share	$	0.00		—	$	0.00
Basic and Diluted weighted-average Class B ordinary common stock		10,350,000		—		10,350,000
Basic and Diluted net loss per Class B share	$	(0.00)		(1.14)	$	(1.14)

	As of December 15, 2020
	As Previously		Restatement
	Reported		Adjustment		As Restated
Balance Sheet
Total assets	$	416,788,700	$	—	$	416,788,700
Liabilities and Shareholders’ equity
Total current liabilities	$	762,402	$	—	$	762,402
Deferred underwriting fee payable		14,490,000		—		14,490,000
Derivative liabilities		—		29,873,200		29,873,200
Total liabilities		15,252,402		29,873,200		45,125,602
Class A ordinary shares, $0.0001 par value; shares subject to possible redemption		396,536,290		(29,873,200)		366,663,090
Shareholders’ equity
Preference shares - $0.0001 par value		—		—		—
Class A ordinary shares - $0.0001 par value		175		298		473
Class B ordinary shares - $0.0001 par value		1,035		—		1,035
Additional paid-in-capital		5,003,798		1,125,772		6,129,570
Accumulated deficit		(5,000)		(1,126,070)		(1,131,070)
Total shareholders’ equity		5,000,008		—		5,000,008
Total liabilities and shareholders’ equity	$	416,788,700	$	—	$	416,788,700