Commitments and Contingencies (Details) - USD ($)

12 Months Ended

Dec. 15, 2021

Aug. 18, 2021

Dec. 31, 2021

Commitments and Contingencies (Details) [Line Items]

3.50%

Under the Merger Agreement, we agreed to acquire all of the outstanding equity interests of Aspiration for $1,750,000,000 in aggregate consideration (as increased for any Equity Financing Proceeds (as defined in the Merger Agreement) in the form of shares of Class A common stock, par value $0.0001 per share, of New Aspiration (“New Aspiration Class A common stock”) (valued for this purpose at $10.00 per share), of which (i) $200,000,000 (represented by 20,000,000 shares of our Class A common stock) will be initially issued into escrow in connection with the issuance of an aggregate of 20,000,000 shares of our Class A common stock pursuant to the subscription agreements, each dated as of August 18, 2021, between us and certain institutional investors (the “Base PIPE Investors”) immediately before the closing of the Proposed Business Combination (the “Closing”), at a purchase price of $10.00 per share (such transaction, the “Base PIPE Investment”) and (ii) up to $77,828,400 (represented by up to 7,782,840 shares of our Class A common stock) will be initially issued into escrow for the benefit of holders (the “Conversion Stockholders”) of shares of Aspiration capital stock issued upon conversion of Aspiration’s Convertible Notes (as defined in the Merger Agreement). Up to 27,782,840 shares of our Class A common stock issued into escrow at the effective time of the First Merger (the “First Effective Time”) will be released to New Aspiration to the extent New Aspiration is obligated to issue Additional Shares (as defined below) to the Base PIPE Investors and the former Conversion Stockholders, as applicable, and otherwise, to the prior holders of common stock, par value $0.000003 per share, of Aspiration (“Aspiration common stock”) (other than, for the avoidance of doubt, the prior holders of Series X preferred stock, par value 0.000003 per share, of Aspiration (the “Aspiration Series X preferred stock”), and the Conversion Stockholders) as of immediately prior to the First Effective Time. In addition, at the First Effective Time, each share of Aspiration Series X preferred stock will convert into a share of Series X preferred stock, par value $0.0001 per share, of New Aspiration (“New Aspiration Series X preferred stock”).

Aspiration capital stock description

Each holder of Aspiration capital stock outstanding immediately prior to the Closing (excluding any shares of Series C-4 preferred stock, par value $0.000003 per share, of Aspiration (the “Aspiration Series C-4 preferred stock”), Aspiration Series X preferred stock and Aspiration common stock issuable upon the conversion of the Convertible Notes to the Conversion Stockholders (“Conversion Stock”)) and each holder of a vested Aspiration option (as defined below), in each case, as of immediately prior to the First Effective Time (collectively, the “Earn Out Participants”) will also receive a contingent right to receive a pro rata portion of up to 100,000,000 shares of New Aspiration Class A common stock (the “Earn Out Shares”). The Merger Agreement contemplates that the Earn Out Participants, following the Closing and for a period of five years thereafter (the “Earn Out Period”), will be eligible to receive a one-time issuance of Earn Out Shares, which shall be issued to the Earn Out Participants in five equal tranches of 20,000,000 shares of New Aspiration Class A common stock (x) when the price of New Aspiration Class A common stock equals or exceeds (i) $12.50 per share prior to the 18-month anniversary of the date on which the Closing occurs (the “Closing Date”), (ii) $15.00 per share prior to the 36-month anniversary of the Closing Date, (iii) $17.50 per share prior to the 36-month anniversary of the Closing Date, (iv) $20.00 per share prior to the 48-month anniversary of the Closing Date and (v) $25.00 per share prior to the 60-month anniversary of the Closing Date, in each case, measured as the volume-weighted average closing sale price over any 20 trading days within any 30 consecutive trading day period prior to the end of the relevant time period applicable to each such earn out tranche or (y) when New Aspiration consummates a change of control transaction that entitles its stockholders to receive a per share consideration of at least $12.50, $15.00, $17.50, $20.00 and $25.00, as applicable. Any unearned portion of the Earn Out Shares not earned prior to the fifth anniversary of the Closing Date will be forfeited.

Excerise price per share (in Dollars per share)

$ 10

Percentage of shares price

50.00%

Net of the original issue discount

10.00%

Dividends description

The dividend rate with respect to the New Aspiration Series X Preferred Stock will be either 8.0% per year in cash or, if not paid in cash, will be paid “in-kind” by accruing at a rate of 8.0%, 11.0% or 12.0% per year for any dividend period ending on or prior to the second anniversary of the Closing Date, between the second and third anniversaries of the Closing Date or between the third and fourth anniversaries of the Closing Date, respectively. New Aspiration may elect either form of dividend payment until the fourth anniversary of the Closing Date, and dividends must be paid in cash thereafter. Each of the dividend rates set forth above will increase by (i) 5.0% per annum (a) if New Aspiration fails to pay any dividend that is required to be paid in cash if surplus cash is available, (b) if New Aspiration defaults on payment with respect to a Liquidation (as defined below) or redemption, (c) if New Aspiration is in material breach of certain covenants under the New Aspiration Certificate of Designations, subject to certain cure periods, (d) if New Aspiration experiences a bankruptcy or insolvency event, whether voluntary or involuntary, (e) if New Aspiration fails to deliver New Aspiration Class A common stock to a holder of New Aspiration Series X Preferred Stock upon the valid exercise of the Warrant (the foregoing clauses (a) through (e), a “Major Event”), (f) if New Aspiration fails to pay any dividend that is required to be paid in cash if surplus cash is unavailable, (g) if New Aspiration is in material breach of certain other covenants under the New Aspiration Certificate of Designations, subject to certain cure periods, (h) if New Aspiration defaults on outstanding indebtedness or if outstanding indebtedness is accelerated, in each case, in excess of $50,000,000 or (i) if New Aspiration fails to pay an applicable final judgment in excess of $25,000,000 (the foregoing clauses (f) through (i), a “Medium Event,” and together with a Major Event, an “Event of Noncompliance”), or (ii) 3.0% per annum if New Aspiration is in material breach of certain other covenants under the New Aspiration Certificate of Designations that is not a Major Event or Medium Event, subject to certain cure periods (the dividend rate as increased in each of the foregoing cases, the “Noncompliance Incremental Rate”). In addition, if the Company does not have at least $200,000,000 of cash at the Closing (excluding proceeds from the issuance of New Aspiration Series X Preferred Stock), the dividend rates set forth above will increase by 5.0% per annum (exclusive of any Noncompliance Incremental Rate then in effect) and will remain in effect until, after the Closing Date, New Aspiration has $200,000,000 of cash (the dividend rate as increased by this sentence, the “de-SPAC Incremental Rate”). New Aspiration may elect to pay both the Noncompliance Incremental Rate and the de-SPAC Incremental Rate in cash or “in-kind.”

Liquidation preference per share (in Dollars per share)

$ 10

Optional redemption

33.00%

Optional call, percentage

8.00%

Minimum cash balance description

Pursuant to the New Aspiration Certificate of Designations, New Aspiration will also be required to maintain a minimum cash balance of $50,000,000 at all times so long as the New Aspiration Series X Preferred Stock remains outstanding. However, if Aspiration and its subsidiaries have less than $10,000,000 in outstanding indebtedness, the required minimum cash balance is reduced to $30,000,000.

Investor rights agreement, percentage

33.00%

Total number of shares, percentage

6.00%

PIPE Investment [Member]

Commitments and Contingencies (Details) [Line Items]

Aggregate consideration (in Dollars)

$ 15,000,000

IPO [Member]

Commitments and Contingencies (Details) [Line Items]

Proceeds from issuance initial public offering (in Dollars)

$ 9,056,250