Registration of securities issued in business combination transactions

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

v3.21.2
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
 9 Months Ended
Sep. 30, 2021
Revision Of Prior Period Financial Statements [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The impact of the restatement on the Company’s previously issued financial statements is reflected in the following tables
.
The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported audited balance sheet as of February 9, 2021:
 
 
  
As Previously
Reported
 
 
Adjustment
 
 
As Revised
 
Balance Sheet as of February 9, 2021 (audited)
  
      
 
      
 
      
Class A Ordinary Shares subject to possible redemption
  
$
300,351,190
  
 
$
44,648,810
  
 
$
345,000,000
  
Class A Ordinary Shares
  
 
446
  
 
 
(446
) 
 
 
—  
 
Additional
paid-in
capital
  
 
13,003,096
  
 
 
(13,003,096
) 
 
 
—  
 
Accumulated deficit
  
 
(8,004,403
) 
 
 
(31,645,268
) 
 
 
(39,649,671
) 
Total shareholders’ equity (deficit)
  
 
5,000,002
  
 
 
(44,648,810
) 
 
 
(39,648,808
) 
The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited balance sheet as of March 31, 2021:
 
 
  
As Previously
Reported
 
 
Adjustment
 
 
As Revised
 
Balance Sheet as of March 31, 2021 (unaudited)
  
      
 
      
 
      
Class A Ordinary Shares subject to possible redemption
  
$
292,624,940
 
 
$
52,375,060
 
 
$
345,000,000
 
Class A Ordinary Shares
  
 
524
 
 
 
(524
) 
 
 
—  
 
Additional
paid-in
capital
  
 
20,729,270
 
 
 
(20,729,270
) 
 
 
—  
 
Accumulated deficit
  
 
(15,730,653
) 
 
 
(31,645,266
) 
 
 
(47,375,919
) 
Total shareholders’ equity (deficit)
  
 
5,000,004
 
 
 
(52,375,060
) 
 
 
(47,375,056
) 
The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited statement of cash flows for the three months ended March 31, 2021:
 
 
  
As Previously

Reported
 
 
Adjustment
 
 
As Revised
 
Three Months ended March 31, 2021 (unaudited)
  
      
 
      
 
      
Non-cash
investing and financing activities
  
      
 
      
 
      
Initial classification of Class A Ordinary Shares subject to possible redemption
  
 
300,351,190
 
 
 
(300,351,190
) 
 
 
—  
 
Change in value of Class A Ordinary Shares subject to possible redemption
  
 
(7,726,250
) 
 
 
7,726,250
 
 
 
—  
 
The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported unaudited balance sheet as of June 30, 2021:
 
 
  
As Previously
Reported
 
 
Adjustment
 
 
As Revised
 
Balance Sheet as of June 30, 2021 (unaudited)
  
 
 
 
 
 
 
 
 
Class A Ordinary Shares subject to possible redemption
  
$
306,503,630
 
 
$
38,496,370
 
 
$
345,000,000
 
Class A Ordinary Shares
  
 
385
 
 
 
(385
) 
 
 
—  
 
Additional
paid-in
capital
  
 
6,850,719
 
 
 
(6,850,719
) 
 
 
—  
 
Accumulated deficit
  
 
(1,851,965
) 
 
 
(31,645,266
) 
 
 
(33,497,231
) 
Total shareholders’ equity (deficit)
  
 
5,000,002
 
 
 
(38,496,370
) 
 
 
(33,496,368
) 
 
The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previousl
y
 reported unaudited statement of cash flows for the six months ended June 30, 2021:
 
 
  
As Previously
Reported
 
  
Adjustment
 
 
As Revised
 
Six Months ended June 30, 2021 (unaudited)
  
      
  
      
 
      
Non-cash
investing and financing activities
  
      
  
      
 
      
Initial classification of Class A Ordinary Shares subject to possible redemption
  
 
300,351,192
 
  
 
(300,351,192
) 
 
 
—  
 
Change in value of Class A Ordinary Shares subject to possible redemption
  
 
6,152,436
 
  
 
(6,152,436
) 
 
 
—  
 
The impact to the reported amounts of w
e
ighted average shares outstanding and the basic and diluted net income (loss) per share is presented below for the quarterly periods ended March 31, 2021 and June 30, 2021:
 
 
  
Net Income (Loss) Per Share
 
 
  
As Previously
Reported
 
 
Adjustment
 
 
As Revised
 
Three Months Ended March 31, 2021 (unaudited)
  
      
 
      
 
      
Weighted average shares outstanding — Class A Ordinary Shares
  
 
34,500,000
 
 
 
(14,950,000
) 
 
 
19,550,000
 
Basic and diluted net income (loss) per share — Class A Ordinary Shares
  
$
—  
 
 
$
(0.57 
) $ 
 
 
(0.57
) 
Weighted average shares outstanding — Class B Ordinary Shares
  
 
8,125,000
 
 
 
—  
 
 
 
8,125,000
 
Basic and diluted net income (loss) per share — Class B Ordinary Shares
  
$
(1.94
) 
 
$
1.37
 
 
$
(0.57
) 
   
 
  
Net Income (Loss) Per Share
 
 
  
As Previously
Reported
 
 
Adjustment
 
 
As Revised
 
Three Months Ended June 30, 2021 (unaudited)
  
      
 
      
 
      
Weighted average shares outstanding — Class A Ordinary Shares
  
 
34,500,000
 
 
 
—  
 
 
 
34,500,000
 
Basic and diluted net income (loss) per share — Class A Ordinary Shares
  
$
—
 
 
$
0.32
 
 
$
0.32
 
Weighted average shares outstanding — Class B Ordinary Shares
  
 
8,625,000
 
 
 
—  
 
 
 
8,625,000
 
Basic and diluted net income (loss) per share — Class B Ordinary Shares
  
$
1.61
 
 
$
(1.29 
) $ 
 
 
0.32
 
 
 
  
Net Income (Loss) Per Share
 
 
  
As Previously
Reported
 
 
Adjustment
 
 
As Revised
 
Six Months Ended June 30, 2021 (unaudited)
  
      
 
      
 
      
Weighted average shares outstanding — Class A Ordinary Shares
  
 
34,500,000
 
 
 
(7,433,702
) 
 
 
27,066,298
 
Basic and diluted net income (loss) per share — Class A Ordinary Shares
  
$
—  
 
 
$
(0.05 
) $ 
 
 
(0.05
) 
Weighted average shares outstanding — Class B Ordinary Shares
  
 
8,376,381
 
 
 
—  
 
 
 
8,376,381
 
Basic and diluted net income (loss) per share — Class B Ordinary Shares
  
$
(0.22
) 
 
$
0.17
 
 
$
(0.05
)