Quarterly report pursuant to Section 13 or 15(d)

Restatement of Previously Issued Financial Statements (Tables)

v3.21.2
Restatement of Previously Issued Financial Statements (Tables)
9 Months Ended
Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]  
Summary of revision on the Company's financial statements
The impact of the restatement on the Company’s financial statements is reflected in the following table
.
 
 
  
As Previously

Reported
 
  
Adjustments
 
  
As Restated
 
Balance Sheet as of March 31, 2021 (unaudited)
  
     
  
     
  
     
Class A Ordinary Shares Subject to Possible Redemption
   $ 367,155,330        35,344,670        402,500,000  
Class A Ordinary Shares
     354        (354   
 
—  
 
Additional
Paid-in
Capital
     —          —          —    
(Accumulated Deficit) Retained Earnings
     4,998,647        (35,344,316      (30,345,669
Balance
S
heet as of June 30, 2021 (unaudited)
                          
Class A Ordinary Shares Subject to Possible Redemption
   $ 362,088,200      $ 40,411,800      $ 402,500,000  
Class A Ordinary Shares
     405        (405      —    
Additional
Paid-in
Capital
     2,336,837        (2,336,837 )      —    
(Accumulated Deficit) Retained Earnings
     2,261,761        (38,074,558      (35,412,797
Balance
S
heet as of September 30, 2021 (unaudited)
                          
Other Derivative Instruments
   $ —        $ (5,048,594    $ (5,048,594
Accumulated Deficit
     (40,951,977      (5,048,594      (46,000,571
Statement of Operations for the Three Months Ended March 31, 2021
 
 
 
 
 
 
 
 
 
 
 
 
Basic and Diluted Net Income Per Class A Ordinary Share
 
$
—  
 
 
$
0.25
 
 
$
0.25
 
Basic and Diluted Net Income Per Class B Ordinary Share
 
$
1.38
 
 
$
(1.13
)
 
$
0.25
 
Statement of Operations for the Three Months Ended June 30, 2021
 
 
 
 
 
 
 
 
 
 
 
 
Basic and Diluted Net Income Per Class A Ordinary Share
 
$
—  
 
 
$
(0.10
)
 
$
(0.10
)
Basic and Diluted Net Income Per Class B Ordinary Share
 
$
(0.50
)
 
$
0.40
 
 
$
(0.10
)
Statement of Operations for the Six Months Ended June 30, 2021
 
 
 
 
 
 
 
 
 
 
 
 
Basic and Diluted Net Income Per Class A Ordinary Share
 
$
—  
 
 
$
0.15
 
 
$
0.15
 
Basic and Diluted Net Income Per Class B Ordinary Share
 
$
0.75
 
 
$
(0.60
)
 
$
0.15
 
Statement of Operations for the Three Months Ended September 30, 2021 (unaudited)
                          
Change in Fair Value of Other Derivative Instruments
   $ —        $ (5,048,594    $ (5,048,594
Total other income (expense)
     (5,023,035      (5,048,594      (10,071,629
Net (loss) income
     (5,539,180      (5,048,594      (10,587,774
Basic and Diluted Net Income Per Class A Ordinary Share
  
$
(0.11
)
 
  
$
(0.10
)
  
$
(0.21
)
Basic and Diluted Net Income Per Class B Ordinary Share
 
$
(0.11
)
 
$
(0.10
)
 
$
(0.21
)
Statement of Operations for the Nine Months Ended September 30, 2021 (unaudited)
                          
Change in Fair Value of Other Derivative Instruments
   $ —        $ (5,048,594    $ (5,048,594
Total other income (expense)
     3,437,960        (5,048,594      (1,610,634
Net (loss) income
     1,991,985        (5,048,594      (3,056,609
Basic and Diluted Net Income Per Cl
a
ss A Ordinary Share
  
$
0.04
 
  
$
(0.10
  
$
(0.06
)
Basic and Diluted Net Income Per Class B Ordinary Share
 
$
0.04
 
 
$
(0.10
)
 
$
(0.06
)
Statement of Cash Flows for the Three Months Ended March 31,
2021 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Change in value of Class A ordinary shares subject to possible redemption
 
$
12,527,610
 
 
$
(12,527,610
)
 
 
$
 
Statement of Cash Flows for the Six Months Ended June 30, 2021
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Change in value of Class A ordinary shares subject to possible redemption
 
$
7,460,480
 
 
$
(7,460,480
)
 
 
$
 
Statement of Cash Flows for the Nine Months Ended September 30, 2021 (unaudited)
                          
Net (loss) income
   $ 1,991,985      $ (5,048,594    $ (3,056,609