Restatement of Previously Issued Financial Statements | Note 2—Restatement of Previously Issued Financial Statements In the Company’s previously issued financial statements, a portion of the public shares were classified as permanent equity to maintain shareholders’ equity of at least $5,000,001 on the basis that the Company can only consummate its initial business combination if the Company has net tangible assets of at least 5,000,001 . The Company revisited its application of ASC 480-10-S99 re-evaluation, 10-Q 10-Q In connection with the change in presentation for the Class A ordinary shares subject to possible redemption, the Company has revised its earnings per ordinary share calculation to allocate income and losses pro rata between the two classes of ordinary shares. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of ordinary shares share pro rata in the income and losses of the Company. Impact of the Restatement The impact of the restatement on the Company’s previously presented financial information contained in this report is presented below: As Reported Adjustment As Restated Unaudited Balance Sheet as of March 31, 2021 Class ordinary shares $ 239,250,830 $ 36,749,170 $ 276,000,000 Ordinary shares Class $ 367 $ (367 ) $ — Additional Paid in Capital $ 3,757,506 $ (3,757,506 ) $ — Retained Earnings (Accumulated Deficit) $ 1,241,442 $ (32,991,297 ) $ (31,749,855 ) Total Shareholders’ Equity (Deficit) $ 5,000,005 $ (36,749,170 ) $ (31,749,165 ) Number of shares subject to redemption 23,925,083 3,674,917 27,600,000 As Reported Adjustment As Restated Unaudited Statement Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 — 27,600,000 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,900,000 — 6,900,000 Basic and diluted net income per ordinary share, Class A $ — $ 0.27 $ 0.34 Basic and diluted net income (loss) $ 1.70 $ (1.36 ) $ 0.34 As Reported Adjustment As Restated Unaudited Balance Sheet as of June 30, 2021 Class A ordinary share s subject to possible redemption $ 237,374,770 $ 38,625,230 $ 276,000,000 Ordinary shares Class A, $0.0001 par value $ 386 $ (386 ) $ — Additional Paid in Capital $ 5,633,547 $ (5,633,547 ) $ — Accumulated Deficit $ (634,617 ) $ (32,991,297 ) $ (33,625,914 ) Total Shareholders’ Equity (Deficit) $ 5,000,006 $ (38,625,230 ) $ (33,625,224 ) Number of shares subject to redemption 23,737,477 3,862,523 27,600,000 As Reported Adjustment As Restated Unaudited Statement of Operations For the three months ended June 30, 2021 Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 — 27,600,000 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,900,000 — 6,900,000 Basic and diluted net income (loss) per ordinary share, Class A $ — $ (0.05 ) $ (0.05 ) Basic and diluted net loss per ordinary share, $ (0.02 ) $ (0.03 ) $ (0.05 ) As Reported Adjustment As Restated Unaudited Statement of Operations For the six months ended June 30, 2021 Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 — 27,600,000 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,900,000 — 6,900,000 Basic and diluted net income per ordinary share, Class A $ — $ 0.29 $ 0.29 Basic and diluted net income (loss) $ 1.43 $ (1.14 ) $ 0.29 | Note 2—Restatement of Previously Issued Financial Statements The Company concluded it should restate its previously issued financial statements by amending Amendment No. 1 to its Annual Report on Form 10-K/A, 480-10-S99, $5,000,001 re-evaluated 480-10-S99, a The change impacted the Company’s Annual report on Form 10-K/A September 30, 2020, and December 31, 2020 (as described in Note 4), and Quarterly Report on Form 10-Q as of March 31, 2021 filed on May 25, 2021 and Quarterly Report on Form 10-Q as of June 30, 2021 filed on August 13, 2021. The Company’s management and the audit committee of the Company’s Board of Directors concluded that it is to restate the Company’s previously issued financial statements in Annual report on Form 10-K/A filed on May 25, 2021, and Quart e ASC 480-10-S99 are included in the financial statements herein. The Company’s Initial Public Offering is restated in Note 4. The following tables summarize the effect of the restatement on each financial statement in Annual report on Form 10-K/A filed on May 25, 2021 as of February 13, 2020, March 31, 2020, June 30, 2020, September 30, 2020, and December 31, 2020 line item as of the dates, and for the period, indicated: As Previously Adjustment As Restated Balance Sheet as of February 13, 2020 Class A Ordinary shares subject to possible redemption $ 234,052,236 $ 41,947,764 $ 276,000,000 Class A Ordinary , $ 419 $ (419 ) $ — Additional Paid in Capital $ 8,998,141 $ (8,998,141 ) $ — Accumulated Deficit $ (3,999,245 ) $ (32,949,204 ) $ (36,948,449 ) Total Shareholders’ Equity (Deficit) $ 5,000,005 $ (41,947,764 ) $ (36,947,759 ) Number of shares subject to redemption 23,405,224 4,194,776 27,600,000 As Previously Adjustment As Restated Balance Sheet as of March 31, 2020 (unaudited) Class A Ordinary shares subject to possible redemption $ 246,977,618 $ 29,022,382 $ 276,000,000 Class A Ordinary , $ 290 $ (290 ) $ — Additional Paid in Capital $ (3,964,388 ) $ 3,964,388 $ — Retained Earnings (Accumulated Deficit) $ 8,963,409 $ (32,986,480 ) $ (24,023,071 ) Total Shareholders’ Equity (Deficit) $ 5,000,001 $ (29,022,382 ) $ (24,022,381 ) Number of shares subject to redemption 24,697,762 2,902,238 27,600,000 As Previously Adjustment As Restated Statement of Operations For Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 (13,186,667 ) 14,413,333 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,474,725 425,275 6,900,000 Basic and diluted net income per ordinary share, Class A $ 0.06 $ 0.36 $ 0.42 Basic and diluted net income $ 1.12 $ (0.70 ) $ 0.42 As Previously Adjustment As Restated Statement of Cash Flows for the three months ended March 31, 2020 (unaudited) Supplemental disclosure of cash flow information: Initial value of Class A ordinary shares subject to possible redemption $ 264,535,214 $ (264,535,214 ) $ — As Previously Adjustment As Restated Balance Sheet as of June 30, 2020 (unaudited) Class A Ordinary shares subject to possible redemption $ 248,419,296 $ 27,580,704 $ 276,000,000 Class A Ordinary , $ 276 $ (276 ) $ — Additional Paid in Capital $ (5,410,869 ) $ 5,410,869 $ — Retained Earnings (Accumulated Deficit) $ 10,409,904 $ (32,991,297 ) $ (22,581,393 ) Total Shareholders’ Equity (Deficit) $ 5,000,001 $ (27,580,704 ) $ (22,580,703 ) Number of shares subject to redemption 24,841,930 2,758,070 27,600,000 As Previously Adjustment As Restated Statement of Operations For the three months ended June 30, 2020 (unaudited) Basic and diluted net income per ordinary share, Class A $ — $ 0.04 $ 0.04 Basic and diluted net loss per ordinary share, Class B $ (0.20 ) $ 0.24 $ 0.04 As Previously Adjustment As Restated Statement of Operations For Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 (6,556,906 ) 21,043,094 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,687,363 212,637 6,900,000 Basic and diluted net income per ordinary share, Class A $ 0.07 $ 0.30 $ 0.37 Basic and diluted net (loss) income per ordinary share, $ 1.29 $ (0.92 ) $ 0.37 As Previously Adjustment As Restated Statement of Cash Flows for the six months ended June 30, 2020 (unaudited) Supplemental disclosure of cash flow information: Initial value of Class A ordinary shares subject to possible redemption $ 264,434,096 $ (264,434,096 ) $ — As Previously Adjustment As Restated Balance Sheet as of September 30, 2020 (unaudited) Class A O $ 237,171,607 $ 38,828,393 $ 276,000,000 Ordinary shares Class A, $ 388 $ (388 ) $ — Additional Paid in Capital $ 5,836,708 $ (5,836,708 ) $ — Accumulated Deficit $ (837,785 ) $ (32,991,297 ) $ (33,829,082 ) Total Shareholders’ Equity (Deficit) $ 5,000,001 $ (38,828,393 ) $ (33,828,392 ) Number of shares subject to redemption 23,717,161 3,882,839 27,600,000 As Previously Adjustment As Restated Statement of Operations F three months ended September 30, 2020 (unaudited) Basic and diluted net income (loss) per ordinary share, Class A $ — $ (0.33 ) $ (0.33 ) Basic and diluted net income (loss) per ordinary share, Class B $ (1.63 ) $ 1.30 $ (0.33 ) As Previously Adjustment As Restated Statement of Operations For the nine months ended September 30, 2020 (unaudited) Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 (4,347,253 ) 23,252,747 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,758,759 141,241 6,900,000 Basic and diluted net income (loss) per ordinary share, Class A $ 0.07 $ (0.10 ) $ (0.03 ) Basic and diluted net loss per ordinary share, Class B $ (0.39 ) $ 0.36 $ (0.03 ) As Previously Adjustment As Restated Statement of Cash Flows for the nine months ended (unaudited) Supplemental disclosure of cash flow information: Initial value of Class A ordinary shares subject to possible redemption $ 264,272,806 $ (264,272,806 ) $ — As Previously Adjustment As Restated Balance Sheet as of December 31, 2020 Class A Ordinary shares subject to possible redemption $ 227,479,630 $ 48,520,370 $ 276,000,000 Ordinary shares Class A, $0.0001 par value $ 485 $ (485 ) $ — Additional Paid in Capital $ 15,528,588 $ (15,528,588 ) $ — Accumulated Deficit $ (10,529,762 ) $ (32,991,297 ) $ (43,521,059 ) Total Shareholders’ Equity (Deficit) $ 5,000,001 $ (48,520,370 ) $ (43,520,369 ) Number of shares subject to redemption 22,747,963 4,852,037 27,600,000 As Previously Adjustment As Restated Statement of Operations for the year ended December 31, 2020 Weighted average shares outstanding of Class A ordinary shares, basic and diluted 27,600,000 (3,251,507 ) 24,348,493 Weighted average shares outstanding of Class B ordinary shares, basic and diluted 6,794,262 105,738 6,900,000 Basic and diluted net income (loss) per ordinary share, Class A $ 0.07 $ (0.41 ) $ (0.34 ) Basic and diluted net loss per ordinary share, Class B $ (1.82 ) $ 1.48 $ (0.34 ) As Previously Adjustment As Restated Statement of Cash Flows for the year ended December 31, 2020 Supplemental disclosure of cash flow information: Initial value of Class A ordinary shares subject to possible redemption $ 234,052,236 $ (234,052,236 ) $ — Change in value of shares subject to possible redemption $ 6,572,606 $ (6,572,606 ) — |