Quarterly Financial Information (Unaudited) | NOTE 12 — Quarterly Financial Information (Unaudited) The following tables are a summary of certain quarterly financial data for the year ended December 31, 2020 and for the period from February 13, 2019 (Date of Inception) through December 31, 2019. 2020 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Formation costs and other operating expenses $ 1,080,155 $ 148,871 $ 153,264 $ 238,549 Loss from operations (1,080,155 ) (148,871 ) (153,264 ) (238,549 ) Other Income: Interest income 8,812 8,812 87,114 2,017,548 Change in fair value of warrant liability (2) (62,099,708 ) 2,826,228 (19,520,931 ) 5,000,031 Net (loss) income $ (63,171,051 ) $ 2,686,169 $ (19,587,081 ) $ 6,779,030 Weighted average shares outstanding, basic and diluted (1) 8,625,000 8,625,000 8,625,000 8,625,000 Basic and diluted net (loss) income per ordinary share $ (7.33 ) $ 0.31 $ (2.28 ) $ 0.55 (1) Excludes an aggregate of up to 34,500,000 shares subject to redemption at December 31, 2020. (2) As restated amount includes change in fair value of warrant liability of ($62,099,708), 2,826,228, ($19,520,931) and $5,000,031 in the 4th, 3rd, 2nd, and 1st Quarters, respectively. 2020 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter ASSETS Current assets Cash and cash equivalents $ 133,697 $ 217,982 $ 272,257 $ 304,208 Prepaid expenses 59,330 341,445 370,443 403,712 Total current assets 193,027 559,427 642,700 707,920 Other assets Cash and marketable securities held in Trust Account 349,583,138 349,574,326 349,565,514 349,478,401 Deferred offering costs - - - - Total assets $ 349,776,165 $ 350,133,753 $ 350,208,214 $ 350,186,321 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable and accrued expenses $ 626,752 $ 12,998 $ 147,400 $ 59,356 Promissory note payable - - - - Warrant liability (1) 97,181,794 35,082,086 37,908,314 18,387,385 Promissory note payable - related party 300,000 200,000 - - Total current liabilities 98,108,546 35,295,084 38,055,714 18,446,741 Deferred underwriting fee payable 12,075,000 12,075,000 12,075,000 12,075,000 Total Liabilities 110,183,546 47,370,084 50,130,714 30,521,741 Ordinary shares subject to possible redemption (2) 349,583,138 349,574,326 349,565,514 349,478,401 Shareholders' Equity (Deficit) Preferred shares, $0.0001 par value; 1,000,000 shares - - - - Class A ordinary shares, $0.0001 par value; (3) - - - - Class B ordinary shares, $0.0001 par value; 863 863 863 863 Additional paid in capital (4) - - - - (Accumulated Deficit) (5) (109,991,382 ) (46,811,520 ) (49,488,877 ) (29,814,684 ) Total Shareholders' Equity (Deficit) (109,990,519 ) (46,810,657 ) (49,488,014 ) (29,813,821 ) $ 349,776,165 $ 350,133,753 $ 350,208,214 $ 350,186,321 (1) As restated amount includes and additional $97,181,794, 35,082,086, $37,908,314, and 18,387,385 for the 4th, 3rd, 2nd and 1st quarters, respectively. (2) As restated amount includes an increase of $17,808,732, $16,728,581, $16,579,701 and $16,426,469 for the 4th, 3rd, 2nd and 1st quarters, respectively. (3) As restated amount includes a decrease of $175, $164, $163 and $162 for the 4th, 3rd, 2nd and 1st quarters, respectively. (4) As restated amount includes a decrease of $2,416,019, $1,344,692, 1,204,624 and $1,138,477 for the 4th, 3rd, 2nd and 1st quarters, respectively. (5) As restated amount includes a decrease of $112,574,331, $50,465,812, $53,283,227 and $33,675,185 for the 4th, 3rd, 2nd and 1st quarters, respectively. 2019 4th Quarter 3rd Quarter 2nd Quarter For the Period from Formation costs and other operating expenses $ 200,824 $ 147,173 $ 26,355 $ 5,000 Loss from operations (200,824 ) (147,173 ) (26,355 ) (5,000 ) Other Income: Interest income 1,593,683 867,168 - - Change in fair value of warrant liability (2) 3,494,207 (1,955,798 ) - - Net (loss) income $ 4,887,066 $ (1,235,803 ) $ (26,355 ) $ (5,000 ) Weighted average shares outstanding, basic and diluted (1) 8,625,000 8,625,000 6,382,980 6,382,980 Basic and diluted net (loss) income per ordinary share $ 0.38 $ (0.24 ) $ - $ - (1) Excludes an aggregate of up to 34,500,000 shares subject to redemption at December 31, 2020 (2) As restated amount includes change in fair value of warrant liability of $3,494207 and ($1,955,798) in Quarters 4 and 3, respectively 2019 4th Quarter 3rd Quarter August 13, ASSETS Current assets Cash and cash equivalents $ 497,549 $ 944,979 $ 1,036,349 Prepaid expenses 431,294 168,309 179,900 Total current assets 928,843 1,113,288 1,216,249 Other assets Cash and marketable securities held in Trust Account 347,460,852 345,867,168 345,000,000 Deferred offering costs - - - Total assets $ 348,389,695 $ 346,980,456 $ 346,216,249 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable and accrued expenses $ 41,731 $ 25,353 $ 0 Warrant liability (1) 23,387,415 26,881,621 26,425,984 Total current liabilities 23,429,146 26,906,974 26,425,984 Deferred underwriting fee payable 12,075,000 12,075,000 12,075,000 Total Liabilities 35,504,146 38,981,974 38,500,984 Ordinary shares subject to possible redemption (2) 347,460,852 345,867,168 345,000,000 Shareholders' Equity (Deficit) Preferred shares, $0.0001 par value; 1,000,000 shares - - - Class A ordinary shares, $0.0001 par value; (3) - - - Class B ordinary shares, $0.0001 par value; 863 863 863 Additional paid in capital (4) - - - (Accumulated Deficit) (5) (34,576,166 ) (37,869,549 ) (37,285,598 ) Total Shareholders' Equity (Deficit) (34,575,303 ) (37,868,686 ) (37,284,735 ) $ 348,389,695 $ 346,980,456 $ 346,216,249 (1) As restated amount includes and additional $97,181,794, 35,082,086, $37,908,314, and 18,387,385 for the 4th, 3rd, 2nd and 1st quarters, respectively. (2) As restate amount includes an increase of $17,808,732, $16,728,581, $16,579,701 and $16,426,469 for the 4th, 3rd, 2nd and 1st quarters, respectively. (3) As restated amount includes a decrease of 160, 162 and 159 or the 4th and 3rd quarters and on August 13, 2019 (4) As restated amount includes a decrease of $2,917,479, 4,310,339 and $5,049,201 or the 4th and 3rd quarters and on August 13, 2019 (5) As restated amount includes a decrease of $36,657,666, $38,558,188 and $37,235,353 for the 4th and 3rd quarters and on August 13, 2019 |