| Quarterly Financial Information (Unaudited) |
Note 10—Quarterly Financial Information (Unaudited)
The following tables contain unaudited consolidated quarterly financial information for the quarterly period ended September 30, 2020 that has been updated to reflect the restatement and revision of the Company’s consolidated financial statements as described in Note 2—Restatement of Previously Issued Financial Statements. The restatement and revision had no impact on net cash flows from operating, investing or financing activities. The Company has not amended its previously filed Quarterly Report on Form 10-Q for the Affected Period. The financial information that has been previously filed or otherwise reported for the Affected Period is superseded by the information in this Annual Report, and the financial statements and related financial information for the Affected Period contained in such previously filed report should no longer be relied upon.
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As of September 30, 2020
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As Previously
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Restatement
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Reported
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Adjustment
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As Restated
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Balance Sheet
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Total assets
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$
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216,445,723
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$
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—
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$
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216,445,723
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Liabilities and shareholders’ equity
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Total current liabilities
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$
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161,956
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$
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—
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$
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161,956
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Deferred legal fees
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—
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Deferred underwriting commissions
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7,525,000
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—
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7,525,000
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Derivative warrant liabilities
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—
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16,197,500
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16,197,500
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Total liabilities
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7,686,956
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16,197,500
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23,884,456
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Class A ordinary shares, $0.0001 par value; shares subject to possible redemption
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203,758,760
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(16,197,500)
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187,561,260
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Shareholders’ equity
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Preference shares - $0.0001 par value
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—
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—
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—
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Class A ordinary shares - $0.0001 par value
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112
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162
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274
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Class B ordinary shares - $0.0001 par value
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538
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—
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538
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Additional paid-in-capital
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5,190,381
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601,798
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5,792,179
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Accumulated deficit
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(191,024)
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(601,960)
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(792,984)
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Total shareholders’ equity
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5,000,007
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—
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5,000,007
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Total liabilities and shareholders’ equity
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$
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216,445,723
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$
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—
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$
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216,445,723
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Period From June 24, 2020 (Inception) Through September 30, 2020
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As Previously
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Restatement
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Reported
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Adjustment
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As Restated
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Unaudited Condensed Statement of Operations
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Loss from operations
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$
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(201,002)
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$
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—
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$
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(201,002)
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Other (expense) income:
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Change in fair value of warrant liabilities
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—
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—
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—
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Offering costs associated with derivative warrant liabilities
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—
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(601,960)
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(601,960)
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Net gain from investments held in Trust Account
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9,978
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—
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9,978
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Total other (expense) income
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9,978
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(601,960)
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(591,982)
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Net loss
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$
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(191,024)
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$
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(601,960)
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$
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(792,984)
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Basic and Diluted weighted-average Class A ordinary shares outstanding
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21,500,000
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—
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21,500,000
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Basic and Diluted net loss per Class A share
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$
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0.00
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—
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$
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0.00
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Basic and Diluted weighted-average Class B ordinary shares outstanding
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5,162,280
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—
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5,162,280
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Basic and Diluted net loss per Class B share
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$
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(0.04)
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—
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$
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(0.16)
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Period From June 24, 2020 (Inception) Through September 30, 2020
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As Previously
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Restatement
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Reported
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Adjustment
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As Restated
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Unaudited Condensed Statement of Cash Flows
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Net loss
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$
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(191,024)
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$
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(601,960)
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$
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(792,984)
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Offering costs associated with derivative warrant liabilities
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—
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601,960
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601,960
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Net cash used in operating activities
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(393,915)
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—
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(393,915)
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Net cash used in investing activities
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(215,000,000)
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—
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(215,000,000)
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Net cash provided by financing activities
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216,459,791
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—
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216,459,791
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Net change in cash
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$
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1,065,876
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$
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—
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$
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1,065,876
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