Revision of Previously Issued Financial Statements | Note 2 — Restatement of Previously Issued Financial Statements In connection with the preparation of the Company’s financial statements as of September 30, 2021, management identified errors made in its historical financial statements where, at the closing of the Company’s Initial Public Offering, the Company improperly valued its common stock subject to possible redemption. The Company previously determined the common stock subject to possible redemption to be equal to the redemption value, while also taking into consideration a redemption cannot result in net tangible assets being less than $5,000,001. Management determined that the Public Shares underlying the Units issued during the Initial Public Offering can be redeemed or become redeemable subject to the occurrence of future events considered outside the Company’s control. Therefore, management concluded that the redemption value should include all shares of common stock subject to possible redemption, resulting in the common stock subject to possible redemption being equal to their redemption value. As a result, management has noted a reclassification error related to temporary equity and permanent equity. This resulted in a restatement to the initial carrying value of the common stock subject to possible redemption with the offset recorded to additional paid-in capital (to the extent available), accumulated deficit and common stock. (see Note 8 for discussion of permanent equity). In connection with the change in presentation for the common stock subject to redemption, the Company also restated its income (loss) per common share calculation to allocate net income (loss) evenly to all common stock. This presentation contemplates a Business Combination as the most likely outcome, in which case, all common stock share pro rata in the income (loss) of the Company. The impact of the revision on the Company’s financial statements is reflected in the following table. (Unaudited) Balance Sheet as of February 13, 2020 (restated) As Previously Restatement Adjustment As Restated Common stock subject to possible redemption $ 144,147,194 $ 5,852,806 $ 150,000,000 Common stock $ 521 $ (59 ) $ 462 Additional paid-in capital $ 5,002,212 $ (5,002,212 ) $ — Accumulated deficit $ (2,731 ) $ (850,535 ) $ (853,266 ) Total Permanent Equity (Deficit) $ 5,000,001 $ (5,852,806 ) $ (852,805 ) Number of shares subject to possible redemption 14,414,719 581,281 15,000,000 Balance Sheet as of March 31, 2020 (restated) Common stock subject to possible redemption $ 167,777,974 $ 5,611,341 $ 173,389,315 Common stock $ 520 $ (56 ) $ 464 Additional paid-in capital $ 3,871,432 $ (3,871,432 ) $ — Accumulated deficit $ 1,128,055 $ (1,739,853 ) $ (611,798 ) Total Permanent Equity (Deficit) $ 5,000,007 $ (5,611,341 ) $ (611,334 ) Number of shares subject to possible redemption 16,691,744 558,256 17,250,000 Balance Sheet as of June 30, 2020 (restated) Common stock subject to possible redemption $ 168,339,363 $ 5,100,801 $ 173,440,164 Common stock $ 514 $ (50 ) $ 464 Additional paid-in capital $ 3,310,049 $ (3,310,049 ) $ — Accumulated deficit $ 1,689,444 $ (1,790,702 ) $ (101,258 ) Total Permanent Equity (Deficit) $ 5,000,007 $ (5,100,801 ) $ (100,794 ) Number of shares subject to possible redemption 16,745,577 504,423 17,250,000 Balance Sheet as of September 31, 2020 (restated) Common stock subject to possible redemption $ 167,826,278 $ 5,640,201 $ 173,466,479 Common stock $ 520 $ (56 ) $ 464 Additional paid-in capital $ 3,823,128 $ (3,823,128 ) $ — Accumulated deficit $ 1,176,359 $ (1,817,017 ) $ (640,658 ) Total Permanent Equity (Deficit) $ 5,000,007 $ (5,640,201 ) $ (640,194 ) Number of shares subject to possible redemption 16,692,005 557,995 17,250,000 Balance Sheet as of December 31, 2020 (restated) Common stock subject to possible redemption $ 165,037,937 $ 8,401,211 $ 173,439,148 Common stock $ 548 $ (84 ) $ 464 Additional paid-in capital $ 6,611,441 $ (6,611,441 ) $ — Accumulated deficit $ (1,611,982 ) $ (1,789,686 ) $ (3,401,668 ) Total Permanent Equity (Deficit) $ 5,000,007 $ (8,401,211 ) $ (3,401,204 ) Number of shares subject to possible redemption 16,414,428 835,572 17,250,000 Balance Sheet as of March 31, 2021 (restated) Common stock subject to possible redemption $ 164,252,986 $ 9,170,198 $ 173,423,184 Common stock $ 556 $ (92 ) $ 464 Additional paid-in capital $ 7,396,384 $ (7,396,384 ) $ — Accumulated deficit $ (2,396,933 ) $ (1,773,722 ) $ (4,170,655 ) Total Permanent Equity (Deficit) $ 5,000,007 $ (9,170,198 ) $ (4,170,191 ) Number of shares subject to possible redemption 16,333,556 916,444 17,250,000 Balance Sheet as of June 30, 2021 (restated) Common stock subject to possible redemption $ 162,904,607 $ 10,447,922 $ 173,352,529 Common stock $ 568 $ (104 ) $ 464 Additional paid-in capital $ 8,744,751 $ (8,744,751 ) $ — Accumulated deficit $ (3,745,311 ) $ (1,703,067 ) $ (5,448,378 ) Total Permanent Equity (Deficit) $ 5,000,008 $ (10,447,922 ) $ (5,447,914 ) Number of shares subject to possible redemption 16,210,346 1,039,654 17,250,000 As Previously Reported: Redeemable and Non-Redeemable Restatement Adjustment As Restated: Common Stock Statement of Operations for the Three Month Period Ended March 31, 2020 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,664,719 (16,664,719 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ 0.05 $ (0.05 ) $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 4,785,228 8,607,052 13,392,280 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ 0.06 $ 0.02 $ 0.08 Statement of Operations for the Three Month Period Ended June 30, 2020 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,694,628 (16,694,628 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ — $ — $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,197,872 16,694,628 21,892,500 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ 0.10 $ (0.07 ) $ 0.03 Statement of Operations for the Six Month Period Ended June 30, 2020 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,684,442 (16,684,442 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ 0.05 $ (0.05 ) $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 4,991,550 12,650,840 17,642,390 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ 0.16 $ (0.06 ) $ 0.10 Statement of Operations for the Three Month Period Ended September 30, 2020 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,745,577 (16,745,577 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ — $ — $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,146,923 16,745,577 21,892,500 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ (0.10 ) $ 0.08 $ (0.02 ) Statement of Operations for the Nine Period Ended September 30, 2020 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,708,896 (16,708,896 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ 0.05 $ (0.05 ) $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,043,719 14,025,715 19,069,434 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ 0.05 $ 0.01 $ 0.06 Statement of Operations for the Year Ended December 31, 2020 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,704,070 (16,704,070 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ 0.05 $ (0.05 ) — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,083,127 14,695,930 19,779,057 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ (0.49 ) $ 0.41 $ (0.08 ) Statement of Operations for the Three Month Period Ended March 31, 2021 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,414,428 (16,414,428 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ — $ — $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,478,072 16,414,428 21,892,500 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ (0.14 ) $ 0.10 $ (0.04 ) Statement of Operations for the Three Month Period Ended June 30, 2021 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,337,862 (16,337,862 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ — $ — $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,554,638 16,337,862 21,892,500 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ (0.24 ) $ 0.18 $ (0.06 ) Statement of Operations for the Six Month Period Ended June 30, 2021 (restated) Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption 16,375,933 (16,375,933 ) — Basic and diluted net income per share, Common stock subject to possible redemption $ — $ — $ — Basic and diluted weighted average shares outstanding, Non-redeemable common stock, Common Stock 5,516,567 16,375,933 21,892,500 Basic and diluted net loss per share, Non-redeemable common stock, Common Stock $ (0.39 ) $ 0.29 $ (0.10 ) Statement of Changes in Permanent Equity (Deficit) for the Three Months Ended March 31, 2020 (restated) Sale of 17,250,000 Units, net of underwriting discounts, offering costs and warrant liability $ 168,080,726 $ (168,080,726 ) $ — Common stock subject to possible redemption $ (167,777,974 ) $ 167,777,974 $ — Change in value of common stock subject to redemption $ 302,752 $ (302,752 ) $ — Accretion for common stock subject to redemption amount $ — $ (5,308,589 ) $ (5,308,589 ) Statement of Changes in Permanent Equity (Deficit) for the Three Months Ended June 30, 2020 (restated) Change in value of common stock subject to redemption $ (561,389 ) $ 561,389 $ — Accretion for common stock subject to redemption amount $ — $ (50,849 ) $ (50,849 ) Statement of Changes in Permanent Equity (Deficit) for the Three Months Ended September 30, 2020 (restated) Change in value of common stock subject to redemption $ 513,085 $ (513,085 ) $ — Accretion for common stock subject to redemption amount $ — $ (26,315 ) $ (26,315 ) Statement of Changes in Permanent Equity (Deficit) for the Three Months Ended December 31, 2020 (restated) Change in value of common stock subject to redemption $ 2,788,341 $ (2,788,341 ) $ — Accretion for common stock subject to redemption amount $ — $ 27,331 $ 27,331 Statement of Changes in Permanent Equity (Deficit) for the Three Months Ended March 30, 2021 (restated) Change in value of common stock subject to redemption $ 784,950 $ (784,950 ) $ — Accretion for common stock subject to redemption amount $ — $ 15,964 $ 15,964 Statement of Changes in Permanent Equity (Deficit) for the Three Months Ended June 30, 2021 (restated) Change in value of common stock subject to redemption $ 1,348,380 $ (1,348,380 ) $ — Accretion for common stock subject to redemption amount $ — $ 70,655 $ 70,655 Non-Cash investing and financing activities: As Previously Restatement Adjustments As Restated Statement of Cash Flows for the Period Ended March 31, 2020 (restated) Initial classification of common stock subject to possible redemption $ 166,647,190 $ 5,852,810 $ 172,500,000 Change in value of common stock subject to possible redemption $ 1,130,784 $ (241,469 ) $ 889,315 Statement of Cash Flows for the Period Ended June 30, 2020 (restated) Initial classification of common stock subject to possible redemption $ 166,647,190 $ 5,852,810 $ 172,500,000 Change in value of common stock subject to possible redemption $ (1,609,253 ) $ 2,549,417 $ 940,164 Statement of Cash Flows for the Period Ended September 30, 2020 (restated) Initial classification of common stock subject to possible redemption $ 166,647,190 $ 5,852,810 $ 172,500,000 Change in value of common stock subject to possible redemption $ 1,179,088 $ (212,609 ) $ 966,479 Statement of Cash Flows for the Year Ended December 31, 2020 (restated) Initial classification of common stock subject to possible redemption $ 166,647,190 $ 5,852,810 $ 172,500,000 Change in value of common stock subject to possible redemption $ (1,609,253 ) $ 2,548,401 $ 939,148 Statement of Cash Flows for the Period Ended March 30, 2021 (restated) Change in value of common stock subject to possible redemption $ (784,951 ) $ 784,951 $ — Statement of Cash Flows for the Period Ended June 30, 2021 (restated) Change in value of common stock subject to possible redemption $ (2,133,329 ) $ 2,133,329 $ — |