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CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 1,190,693 $ 0
Prepaid expenses 925,360 0
Deferred offering costs 0 523,475
Total current assets 2,116,053 523,475
Investments held in Trust Account 1,000,040,379 0
Total assets 1,002,156,432 523,475
Current liabilities    
Accrued expenses 164,076 364,935
Accrued expenses - related party 27,435 0
Promissory note - related party 0 147,385
Total current liabilities 191,511 512,320
Warrant liabilities [1] 31,040,535 0
Deferred underwriting commissions 35,000,000 0
Total liabilities 66,232,046 512,320
Commitments and contingencies
Shareholders’ Equity    
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 0 0
Additional paid-in capital (15,369,844) 22,500
Retained earnings (accumulated deficit) 20,366,659 (13,845)
Total shareholders’ equity 5,000,006 11,155 [2]
Total Liabilities and Shareholders’ Equity 1,002,156,432 523,475
Class A Ordinary Shares Subject To Redemotion    
Current liabilities    
Class A ordinary shares, $0.0001 par value; 93,092,438 and 0 shares subject to possible redemption at $10.00 per share at March 31, 2021 and December 31, 2020, respectively 930,924,380 0
Class A Ordinary Shares    
Shareholders’ Equity    
Common stock 691 0
Class B Ordinary Shares    
Shareholders’ Equity    
Common stock [3] $ 2,500 $ 2,500
[1] In April 2021, the Company concluded that, because of a misapplication of the accounting guidance related to its Public and Private Placement warrants, the Company is restating its previously issued balance sheet dated February 4, 2021, filed on Form 8-K on February 10, 2021, in this Quarterly Report. The impact to the balance sheet resulted in a $55.4 million increase to the warrant liabilities line item and offsetting decrease to the Class A ordinary shares subject to possible redemption line item as of February 4, 2021 (see Note 2). Prospectively, the Company will adjust the instruments to fair value at each reporting period and the liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s statement of operations.
[2] On February 4, 2021, the Company consummated the sale of Over-Allotment Units pursuant to the underwriters’ partial exercise of their over-allotment option. Share amounts as of December 31, 2020 have been retroactively restated to account for the share recapitalization events as discussed in Note 5.
[3] On February 4, 2021, the Company consummated the sale of Over-Allotment Units pursuant to the underwriters’ partial exercise of their over-allotment option. Share amounts as of December 31, 2020 have been retroactively restated to account for the share recapitalization events as discussed in Note 5.