Restatement of Previously Issued Financial Statements (Tables)

9 Months Ended

Mar. 02, 2021

Sep. 30, 2021

Mcap Acquisition Corp [Member]

Restatement of Previously Issued Balance Sheet

	As Previously Reported			Adjustment			As Restated
Balance sheet as of March 2, 2021
Warrant liability	$	—		$	22,818,749		$	22,818,749
Total liabilities		12,185,686			22,818,749			35,004,435
Class A common stock subject to possible redemption(1)		302,376,840			13,873,160			316,250,000
Class A common stock		140			(140	)		—
Additional paid in capital		5,018,601			(5,018,601	)		—
Accumulated deficit		(19,522	)		(31,673,168	)		(31,692,690	)

(1) Shares of Class A common stock subject to possible redemption as Previously Reported as of March 2, 2021 were 30,237,684, were Adjusted by 1,387,316 and are As Restated at 31,625,000.

The following tables are a summary of certain financial data for the period ended March 2, 2021 and for the quarters ended March 31, 2021 and June 30, 2021.

	As Previously Restated			Adjustments			As Restated
	March 2, 2021						March 2, 2021
Total assets	$	319,562,536		$	—		$	319,562,536
Total liabilities		35,004,435			—			35,004,435
Temporary equity (Class A ordinary shares subject to possible redemption)		279,558,090			36,691,910			316,250,000
Permanent equity:
Preferred stock		—			—			—
Class A common stock		368			(368	)		—
Class B common stock		791			—			791
Additional paid-in capital		5,850,752			(5,850,752	)		—
Accumulated deficit		851,900			(30,840,790	)		(31,692,690	)
Total permanent equity		5,000,011			(36,691,910	)		(31,691,899	)
	March 31, 2021						March 31, 2021
Total assets	$	318,615,345		$	—		$	318,615,345
Total liabilities		33,989,034			—			33,989,034
Temporary equity (Class A ordinary shares subject to possible redemption)		279,626,302			36,629,820			316,256,122
Permanent equity:
Preferred stock		—			—			—
Class A common stock		367			(367	)		—
Class B common stock		791			—			791
Additional paid-in capital		5,782,541			(5,782,541	)		—
Accumulated deficit		(783,690	)		(30,846,912	)		(31,630,602	)
Total permanent equity		5,000,009			(36,629,820	)		(31,629,811	)
Redeemable Class A common stock
Numerator:
Allocation of loss to redeemable Class A common stock	$	6,122		$	(443,116	)	$	(436,994	)
Denominator: weighted average redeemable Class A common stock shares
Redeemable Class A common stock shares, basic and diluted		30,237,684			(19,696,017	)		10,541,667
Earnings per share basic and diluted redeemable Class A common stock	$	—		$	(0.04	)	$	(0.04	)
Non-Redeemable Class common stock
Numerator:
Allocation of loss to non-redemable Class B common stock	$	(770,862	)	$	443,116		$	(327,746	)
Denominator: weighted average non-redeemable Class A and B common stock
Non-Redeemable Class B common stock shares, basic and diluted		8,353,274			(447,024	)		7,906,250
Loss per share basic and diluted non-redeemable Class B common stock	$	(0.09	)	$	0.05		$	(0.04	)

	As Previously Restated		Adjustments			As Restated
	June 30, 2021					June 30, 2021
Total assets	$	318,156,764	$	—		$	318,156,764
Total liabilities		31,061,723		—			31,061,723
Temporary equity (Class A ordinary shares subject to possible redemption)		282,095,033		34,171,283			316,266,316
Permanent equity:
Preferred stock		—		—			—
Class A common stock		342		(342	)		—
Class B common stock		791		—			791
Additional paid-in capital		3,313,835		(3,313,835	)		—
Accumulated deficit		1,685,040		(30,857,790	)		(29,172,750	)
Total permanent equity		5,000,008		(34,171,967	)		(29,171,959	)
Three Months Ended June 30, 2021
Redeemable Class A common stock
Numerator:
Allocation of loss to redeemable Class A common stock	$	10,194	$	1,964,790		$	1,974,984
Denominator: weighted average redeemable Class A common stock shares
Redeemable Class A common stock shares, basic and diluted		27,962,071		3,662,929			31,625,000
Earnings per share basic and diluted redeemable Class A common stock	$	—	$	0.06		$	0.06
Non-Redeemable Class common stock
Numerator:
Allocation of loss to non-redemable Class B common stock	$	2,458,536	$	(1,964,790	)	$	493,746
Denominator: weighted average non-redeemable Class A and B common stock
Non-Redeemable Class B common stock shares, basic and diluted		11,569,179		(3,662,929	)		7,906,250
Loss per share basic and diluted non-redeemable Class B common stock	$	0.21	$	(0.15	)	$	0.06
Six Months Ended June 30, 2021
Redeemable Class A common stock
Numerator:
Allocation of loss to redeemable Class A common stock	$	16,316	$	1,223,881		$	1,240,197
Denominator: weighted average redeemable Class A common stock shares
Redeemable Class A common stock shares, basic and diluted		28,526,273		(7,384,698	)		21,141,575
Earnings per share basic and diluted redeemable Class A common stock	$	—	$	0.06		$	0.06
Non-Redeemable Class common stock
Numerator:
Allocation of loss to non-redemable Class B common stock	$	1,687,674	$	(1,223,881	)	$	463,793
Denominator: weighted average non-redeemable Class A and B common stock
Non-Redeemable Class B common stock shares, basic and diluted		9,977,775		—			7,906,250
Loss per share basic and diluted non-redeemable Class B common stock	$	0.17	$	(0.11	)	$	0.06