Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Schedule of Revision in Line Items of Balance Sheet

The effect of this revision on the line items within the condensed balance sheet as of December 31, 2020 was as follows:

 

 

 

Year Ended December 31, 2020

 

 

 

Previously reported

 

 

Adjustment

 

 

As revised

 

Warrant liability

 

$

 

 

$

2,338,677

 

 

$

2,338,677

 

Total liabilities

 

$

9,896,210

 

 

$

2,338,677

 

 

$

12,234,887

 

Common stock subject to possible redemption

 

$

188,498,028

 

 

$

(2,338,686

)

 

$

186,159,342

 

Stockholders’ equity

 

 

 

 

 

 

 

 

 

 

 

 

Common stock

 

$

723

 

 

$

23

 

 

$

746

 

Additional paid-in capital

 

$

7,728,132

 

 

$

2,052,531

 

 

$

9,780,663

 

Accumulated deficit

 

$

(2,728,854

)

 

$

(2,052,545

)

 

$

(4,781,399

)

Total stockholders’ equity

 

$

5,000,001

 

 

$

9

 

 

$

5,000,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A reconciliation of the shares of common stock subject to possible redemption outstanding and shares of common stock outstanding is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock subject to possible redemption-shares outstanding

 

 

18,663,171

 

 

 

(231,553

)

 

 

18,431,618

 

Common stock-shares issued and outstanding

 

 

7,230,308

 

 

 

231,553

 

 

 

7,461,861

 

Net Loss per Common Share, Basic and Diluted

In accordance with the two-class method, the Company’s net loss is adjusted for net income that is attributable to common stock subject to redemption, as these shares only participate in the income of the Trust Account and not the losses of the Company. Accordingly, net loss per common share, basic and diluted, is calculated as follows:

 

 

 

For the Three

Months Ended

March 31, 2021

 

 

Period from

February 3, 2020

(Inception) through

March 31, 2020

 

Net loss

 

$

(104,909

)

 

$

(25,788

)

Less: net income attributable to common stock subject to redemption

 

 

(3,122

)

 

 

 

Net loss attributable to common stockholders

 

$

(108,031

)

 

$

(25,788

)

Weighted-average common shares outstanding, basic and diluted

 

 

7,452,055

 

 

 

4,211,466

 

Net loss per share common share, basic and diluted

 

$

(0.01

)

 

$

(0.01

)