Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Summary of reconciliation of common stock subject to possible redemption

At September 30, 2021 and December 31, 2020, the Common Stock reflected in the balance sheets are reconciled in the following table:

Gross proceeds

    

$

334,215,700

Less:

 

  

Proceeds allocated to Public Warrants

$

(12,700,197)

Common stocks issuance costs

$

(18,132,174)

Plus:

 

  

Accretion of carrying value to redemption value

$

30,832,371

Class A Common stocks subject to possible redemption

$

334,215,700

Summary of calculation of basic and diluted net income (loss) per common share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):

For the Period from

May 29, 2020

Three Months Ended

Three Months Ended

Nine Months Ended

(Inception) through

September 30, 

September 30, 

September 30, 

September 30, 

    

2021

2020

    

2021

    

2020

    

Class A

    

Class B

    

Class A

    

Class B

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net income (loss) per common stock

 

  

Numerator:

 

  

Allocation of net income (loss), as adjusted

$

15,974,063

$

3,993,516

$

(406,765)

$

(410,306)

$

13,635,696

$

3,408,924

$

(364,592)

$

(453,479)

Denominator:

 

  

Basic and diluted weighted average shares outstanding

 

33,421,570

8,355,393

7,628,837

7,695,253

33,421,570

8,355,393

6,156,605

7,657,572

Basic and diluted net income (loss) per common stock

$

0.48

$

0.48

$

(0.05)

$

(0.05)

$

0.41

$

0.41

$

(0.06)

$

(0.06)