Quarterly Financial Information

12 Months Ended

Dec. 31, 2020

Thunder Bridge Acquisition Il, Ltd.[Member]

Quarterly Financial Information [Line Items]

Quarterly Financial Information

Note 12 — Quarterly Financial Information (Unaudited)

The following tables are a summary of certain quarterly financial data for the year ended December 31, 2020 and for the period from February 13, 2019 (Date of Inception) through December 31, 2019.

	2020
	4th Quarter (As restated)			3rd Quarter (As restated)			2nd Quarter (As restated)			1st Quarter (As restated)
Formation costs and other operating expenses	$	1,080,155		$	148,871		$	153,264		$	238,549
Loss from operations		(1,080,155	)		(148,871	)		(153,264	)		(238,549	)
Other Income:
Interest income		8,812			8,812			87,114			2,017,548
Change in fair value of warrant liability(2)		(62,099,708	)		2,826,228			(19,520,931	)		5,000,031
Net (loss) income	$	(63,171,051	)	$	2,686,169		$	(19,587,081	)	$	6,779,030
Weighted average shares outstanding, basic and diluted(1)		8,625,000			8,625,000			8,625,000			8,625,000
Basic and diluted net (loss) income per ordinary share	$	(7.33	)	$	0.31		$	(2.28	)	$	0.55

(1)      Excludes an aggregate of up to 34,500,000 shares subject to redemption at December 31, 2020.

(2)      As restated amount includes change in fair value of warrant liability of ($62,099,708), 2,826,228, ($19,520,931) and $5,000,031 in the 4th, 3rd, 2nd, and 1st Quarters, respectively.

	2020
	4th Quarter (As restated)			3rd Quarter (As restated)			2nd Quarter (As restated)			1st Quarter (As restated)
ASSETS
Current assets
Cash and cash equivalents	$	133,697		$	217,982		$	272,257		$	304,208
Prepaid expenses		59,330			341,445			370,443			403,712
Total current assets		193,027			559,427			642,700			707,920
Other assets
Cash and marketable securities held in Trust Account		349,583,138			349,574,326			349,565,514			349,478,401
Deferred offering costs		—			—			—			—
Total assets	$	349,776,165		$	350,133,753		$	350,208,214		$	350,186,321
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Accounts payable and accrued expenses	$	626,752		$	12,998		$	147,400		$	59,356
Promissory note payable		—			—			—			—
Warrant liability(1)		97,181,794			35,082,086			37,908,314			18,387,385
Promissory note payable – related party		300,000			200,000			—			—
Total current liabilities		98,108,546			35,295,084			38,055,714			18,446,741
Deferred underwriting fee payable		12,075,000			12,075,000			12,075,000			12,075,000
Total Liabilities		110,183,546			47,370,084			50,130,714			30,521,741
Ordinary shares subject to possible redemption(2)		349,583,138			349,574,326			349,565,514			349,478,401
Shareholders’ Equity (Deficit)
Preferred shares, $0.0001 par value; 1,000,000 shares		—			—			—			—
Class A ordinary shares, $0.0001 par value;(3)		—			—			—			—
Class B ordinary shares, $0.0001 par value;		863			863			863			863
Additional paid in capital(4)		—			—			—			—
(Accumulated Deficit)(5)		(109,991,382	)		(46,811,520	)		(49,488,877	)		(29,814,684	)
Total Shareholders’ Equity (Deficit)		(109,990,519	)		(46,810,657	)		(49,488,014	)		(29,813,821	)
	$	349,776,165		$	350,133,753		$	350,208,214		$	350,186,321

(1)      As restated amount includes an additional $97,181,794, 35,082,086, $37,908,314, and 18,387,385 for the 4th, 3rd, 2nd and 1st quarters, respectively.

(2)      As restated amount includes an increase of $17,808,732, $16,728,581, $16,579,701 and $16,426,469 for the 4th, 3rd, 2nd and 1st quarters, respectively.

(3)      As restated amount includes a decrease of $175, $164, $163 and $162 for the 4th, 3rd, 2nd and 1st quarters, respectively.

(4)      As restated amount includes a decrease of $2,416,019, $1,344,692, 1,204,624 and $1,138,477 for the 4th, 3rd, 2nd and 1st quarters, respectively.

(5)      As restated amount includes a decrease of $112,574,331, $50,465,812, $53,283,227 and $33,675,185 for the 4th, 3rd, 2nd and 1st quarters, respectively.

	2019
	4th Quarter (As restated)			3rd Quarter (As restated)			2nd Quarter			For the Period from February 13, 2019 (Date of Inception) through March 31, 2019
Formation costs and other operating expenses	$	200,824		$	147,173		$	26,355		$	5,000
Loss from operations		(200,824	)		(147,173	)		(26,355	)		(5,000	)
Other Income:
Interest income		1,593,683			867,168			—			—
Change in fair value of warrant liability(2)		3,494,207			(1,955,798	)		—			—
Net (loss) income	$	4,887,066		$	(1,235,803	)	$	(26,355	)	$	(5,000	)
Weighted average shares  outstanding, basic and diluted(1)		8,625,000			8,625,000			6,382,980			6,382,980
Basic and diluted net  (loss) income per ordinary share	$	0.38		$	(0.24	)	$	—		$	—

(1)      Excludes an aggregate of up to 34,500,000 shares subject to redemption at December 31, 2020.

(2)      As restated amount includes change in fair value of warrant liability of $3,494207 and ($1,955,798) in Quarters 4 and 3, respectively.

	2019
	4th Quarter (As restated)			3rd Quarter (As restated)			August 13, 2019
ASSETS
Current assets
Cash and cash equivalents	$	497,549		$	944,979		$	1,036,349
Prepaid expenses		431,294			168,309			179,900
Total current assets		928,843			1,113,288			1,216,249
Other assets
Cash and marketable securities held in Trust Account		347,460,852			345,867,168			345,000,000
Deferred offering costs		—			—			—
Total assets	$	348,389,695		$	346,980,456		$	346,216,249
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Accounts payable and accrued expenses	$	41,731		$	25,353		$	0
Warrant liability(1)		23,387,415			26,881,621			26,425,984
Total current liabilities		23,429,146			26,906,974			26,425,984
Deferred underwriting fee payable		12,075,000			12,075,000			12,075,000
Total Liabilities		35,504,146			38,981,974			38,500,984
Ordinary shares subject to possible redemption(2)		347,460,852			345,867,168			345,000,000
Shareholders’ Equity (Deficit)
Preferred shares, $0.0001 par value; 1,000,000 shares		—			—			—
Class A ordinary shares, $0.0001 par value;(3)		—			—			—
Class B ordinary shares, $0.0001 par value;		863			863			863
Additional paid in capital(4)		—			—			—
(Accumulated Deficit)(5)		(34,576,166	)		(37,869,549	)		(37,285,598	)
Total Shareholders’ Equity (Deficit)		(34,575,303	)		(37,868,686	)		(37,284,735	)
	$	348,389,695		$	346,980,456		$	346,216,249

(1)      As restated amount includes an additional $97,181,794, 35,082,086, $37,908,314, and 18,387,385 for the 4th, 3rd, 2nd and 1st quarters, respectively.

(2)      As restate amount includes an increase of $17,808,732, $16,728,581, $16,579,701 and $16,426,469 for the 4th, 3rd, 2nd and 1st quarters, respectively.

(3)      As restated amount includes a decrease of 160, 162 and 159 or the 4th and 3rd quarters and on August 13, 2019.

(4)      As restated amount includes a decrease of $2,917,479, 4,310,339 and $5,049,201 or the 4th and 3rd quarters and on August 13, 2019.

(5)      As restated amount includes a decrease of $36,657,666, $38,558,188 and $37,235,353 for the 4th and 3rd quarters and on August 13, 2019.