| Summarizes the effect of the correction on each financial statement line item |
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As
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Previously
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As
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Reported
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Adjustments
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Revised
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Balance sheet as of October 27, 2020 (audited)
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Warrant Liabilities
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$
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—
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$
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17,600,000
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$
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17,600,000
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Total Liabilities
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9,979,556
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17,600,000
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27,579,556
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Ordinary Shares Subject to Possible Redemption
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189,953,340
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(17,600,000)
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172,353,340
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Class A Ordinary Shares
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100
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176
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276
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Additional Paid-in Capital
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5,045,914
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1,129,643
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6,175,557
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Accumulated Deficit
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(46,579)
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(1,129,643)
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(1,176,398)
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As
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Previously
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As
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Reported
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Adjustments
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Restated
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Balance sheet as of December 31, 2020 (audited)
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Warrant Liabilities
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$
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—
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$
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24,945,850
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$
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24,945,850
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Total Liabilities
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7,539,900
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24,945,850
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32,485,750
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Ordinary Shares Subject to Possible Redemption
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204,477,211
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(24,945,841)
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179,531,370
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Class A Ordinary Shares
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108
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249
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357
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Additional Paid-in Capital
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5,238,322
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7,381,477
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12,619,799
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Accumulated Deficit
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(238,958)
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(7,381,735)
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(7,620,693)
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Shareholders’ Equity
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5,000,010
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(9)
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5,000,001
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Statement of Operations for the period from August 20, 2020 (inception) to December 31, 2020 (audited)
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Change in fair value of warrant liabilities
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$
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—
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$
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(6,207,183)
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$
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(6,207,183)
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Transaction Costs — warrant liabilities
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—
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(720,885)
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(720,885)
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Compensation expense – Private Warrants
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—
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(453,667)
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(453,667)
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Formation and operating costs
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(264,690)
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(1,174,552)
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(1,439,242)
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Net loss
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(238,958)
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(7,381,735)
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(7,620,693)
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Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption
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20,172,634
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(1,851,093)
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18,321,541
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Weighted average shares outstanding, basic and diluted Basic and diluted weighted average shares outstanding Non-redeemable common stock
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5,744,947
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1,019,670
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6,764,617
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Basic and diluted net loss per non-redeemable common share
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(0.05)
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(1.08)
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(1.13)
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As
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Previously
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As
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Reported
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Adjustments
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Restated
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Statement of Cash Flows for the period from August 20, 2020 (inception) through December 31, 2020 (audited)
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Net loss
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(238,958)
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(7,381,735)
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(7,620,693)
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Change in fair value of warrant liabilities
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—
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6,207,183
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6,207,183
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Allocation of IPO costs to warrant liabilities
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—
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720,885
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720,885
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Compensation expense – Private Warrants
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—
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453,667
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453,667
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Initial classification of Class A Ordinary Shares subject to possible redemption
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204,669,590
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(18,738,660)
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185,930,930
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Change in value of Class A Ordinary Shares subject to possible redemption
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(192,379)
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(6,207,181)
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(6,399,560)
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Initial classification of warrant liabilities
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—
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18,738,667
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18,738,667
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