Restatement of Previously Filed Balance Sheet

3 Months Ended

Mar. 11, 2021

Accounting Changes and Error Corrections [Abstract]

Restatement of Previously Filed Balance Sheet

NOTE 9. RESTATEMENT OF PREVIOUSLY FILED BALANCE SHEET

In accordance with ASC 480-10-S99, redemption provisions not solely within the control of the Company require shares subject to redemption to be classified outside of permanent equity. The Company had previously classified a portion of its Class A ordinary shares in permanent equity, or total shareholders’ equity. As a result, the Company restated its previously filed balance sheet to present all redeemable Class A ordinary shares as temporary equity and to recognize a remeasurement adjustment from the initial book value to redemption value at the time of its Initial Public Offering.

The following table contains financial information as of March 11, 2021 that has been updated to reflect the restatement. The financial information that has been previously filed or otherwise reported as of March 11, 2021 is superseded by the information in this exhibit to the Company’s 8-K/A, and the balance sheet and related financial information as of March 11, 2021 contained in such previously filed report should no longer be relied upon:​​​​​​​

As of March 11, 2021	As Previously Reported			Adjustment			As Restated
Total assets	$	324,019,600					$	324,019,600
Total liabilities	$	11,775,858					$	11,775,858
Class A ordinary shares subject to possible redemption		307,243,740			12,756,260			320,000,000
Preference shares		—			—			—
Class A ordinary shares		232			(128	)		104
Class B ordinary shares		800			—			800
Additional paid-in capital		5,068,587			(5,068,587	)		—
Accumulated deficit		(69,617	)		(7,687,545	)		(7,757,162	)
Total shareholders’ equity (deficit)	$	5,000,002		$	(12,756,260	)	$	(7,756,258	)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Equity (Deficit)	$	324,019,600		$	—		$	324,019,600