Quarterly financial information (unaudited) | Note 10. Quarterly financial information (unaudited) The following tables contain unaudited quarterly financial information for the three months ended March 31, 2020, for the three and six months ended June 30, 2020, and for the three and nine months ended September 30, 2020 that has been updated to reflect the restatement and revision of the Company’s financial statements as described in Note 2—Restatement of Previously Issued Financial Statements. The restatement and revision had no impact on net cash flows from operating, investing or financing activities. The Company has not amended its previously filed Quarterly Report on Form 10-Q for the Affected Period. The financial information that has been previously filed or otherwise reported for the Affected Period is superseded by the information in this Annual Report, and the financial statements and related financial information for the Affected Period contained in such previously filed report should no longer be relied upon. As of March 31, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Balance Sheet Total assets $ 231,843,054 $ — $ 231,843,054 Liabilities and stockholders’ equity Total current liabilities $ 390,929 $ — $ 390,929 Deferred underwriting commissions 6,300,000 — 6,300,000 Derivative warrant liabilities — 11,624,170 11,624,170 Total liabilities 6,690,929 11,624,170 18,315,099 Class A common stock, $0.0001 par value; shares subject to possible redemption 220,152,120 (11,624,170) 208,527,950 Stockholders’ equity Preferred stock- $0.0001 par value — — — Class A common stock - $0.0001 par value 98 117 215 Class B common stock - $0.0001 par value 575 — 575 Additional paid-in-capital 5,046,721 731,633 5,778,354 Accumulated deficit (47,389) (731,750) (779,139) Total stockholders’ equity 5,000,005 — 5,000,005 Total liabilities and stockholders’ equity $ 231,843,054 $ — $ 231,843,054 For the Three Months Ended March 31, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Statement of Operations Loss from operations $ (87,774) $ — $ (87,774) Other (expense) income: Change in fair value of derivative warrant liabilities — (416,670) (416,670) Financing cost - derivative warrant liabilities — (315,080) (315,080) Interest earned on marketable securities held in Trust Account 42,685 — 42,685 Total other (expense) income 42,685 (731,750) (689,065) Net loss $ (45,089) $ (731,750) $ (776,839) Basic and Diluted weighted-average Class A common stock 23,000,000 23,000,000 Basic and Diluted net loss per Class A common stock $ $ Basic and Diluted weighted-average Class B common stock 5,750,000 (593,407) 5,156,593 Basic and Diluted net loss per Class B common stock $ (0.01) $ (0.14) $ (0.15) For the Three Months Ended March 31, 2020 As Previously Restatement Reported Adjustment As Restated Unaudited Condensed Statement of Cash Flows Net loss $ (45,089) $ (731,750) $ (776,839) Change in fair value of derivative warrant liabilities — 416,670 416,670 Fiancing Cost- derivative warrant liabilities — 315,080 315,080 Initial value of Class A common stock subject to possible redemption 220,164,430 (11,207,500) 208,956,930 Change in fair value of Class A common stock subject to possible redemption (12,310) (416,670) (428,980) As of June 30, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Balance Sheet Total assets $ 231,466,990 $ — $ 231,466,990 Liabilities and stockholders’ equity Total current liabilities $ 130,600 $ — $ 130,600 Deferred underwriting commissions 6,300,000 — 6,300,000 Derivative warrant liabilities — 14,127,170 14,127,170 Total liabilities 6,430,600 14,127,170 20,557,770 Class A common stock, $0.0001 par value; shares subject to possible redemption 220,036,380 (14,127,170) 205,909,210 Stockholders’ equity Preferred stock- $0.0001 par value — — — Class A common stock - $0.0001 par value 100 141 241 Class B common stock - $0.0001 par value 575 — 575 Additional paid-in-capital 5,162,459 3,234,609 8,397,068 Accumulated deficit (163,124) (3,234,750) (3,397,874) Total stockholders’ equity 5,000,010 — 5,000,010 Total liabilities and stockholders’ equity $ 231,466,990 $ — $ 231,466,990 For the Three Months Ended June 30, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Statement of Operations Loss from operations $ (194,558) $ — $ (194,558) Other (expense) income: Change in fair value of derivative warrant liabilities — (2,503,000) (2,503,000) Interest earned on marketable securities held in Trust Account 78,823 — 78,823 Total other (expense) income 78,823 (2,503,000) (2,424,177) Net loss $ (115,735) $ (2,503,000) $ (2,618,735) Basic and Diluted weighted-average Class A common stock 23,000,000 23,000,000 Basic and Diluted net loss per Class A common stock $ 0.00 $ 0.00 Basic and Diluted weighted-average Class B common stock 5,750,000 5,750,000 Basic and Diluted net loss per Class B common stock $ (0.03) $ (0.43) $ (0.46) For the Six Months Ended June 30, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Statement of Operations Loss from operations $ (282,332) $ — $ (282,332) Other (expense) income: Change in fair value of derivative warrant liabilities — (2,919,670) (2,919,670) Financing cost - derivative warrant liabilities — (315,080) (315,080) Interest earned on marketable securities held in Trust Account 121,508 — 121,508 Total other (expense) income 121,508 (3,234,750) (3,113,242) Net loss $ (160,824) $ (3,234,750) $ (3,395,574) Basic and Diluted weighted-average Class A common shares outstanding 23,000,000 — 23,000,000 Basic and Diluted net loss per Class A share $ 0.00 — $ 0.00 Basic and Diluted weighted-average Class B common shares outstanding 5,750,000 (296,703) 5,453,297 Basic and Diluted net loss per Class B share $ (0.04) $ (0.58) $ (0.62) For the Six Months Ended June 30, 2020 As Previously Restatement Reported Adjustment As Restated Unaudited Condensed Statement of Cash Flows Net loss $ (160,824) $ (3,234,750) $ (3,395,574) Change in fair value of derivative warrant liabilities — 2,919,670 2,919,670 Fiancing Cost- derivative warrant liabilities — 315,080 315,080 Initial value of Class A common stock subject to possible redemption 220,164,430 (11,207,500) 208,956,930 Change in fair value of Class A common stock subject to possible redemption (128,050) (2,919,670) (3,047,720) As of September 30, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Balance Sheet Total assets $ 231,395,659 $ — $ 231,395,659 Liabilities and stockholders’ equity Total current liabilities $ 196,929 $ — $ 196,929 Deferred underwriting commissions 6,300,000 — 6,300,000 Derivative warrant liabilities — 16,406,170 16,406,170 Total liabilities 6,496,929 16,406,170 22,903,099 Class A common stock, $0.0001 par value; shares subject to possible redemption 219,898,720 (16,406,170) 203,492,550 Stockholders’ equity Preferred stock- $0.0001 par value — — — Class A common stock - $0.0001 par value 101 164 265 Class B common stock - $0.0001 par value 575 — 575 Additional paid-in-capital 5,300,118 5,513,586 10,813,704 Accumulated deficit (300,784) (5,513,750) (5,814,534) Total stockholders’ equity 5,000,010 — 5,000,010 Total liabilities and stockholders’ equity $ 231,395,659 $ — $ 231,395,659 Three Months Ended September 30, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Statement of Operations Loss from operations $ (198,480) $ — $ (198,480) Other (expense) income: Change in fair value of derivative warrant liabilities — (2,279,000) (2,279,000) Interest income from investments in Trust Account 73,393 — 73,393 Income tax expense (12,573) — (12,573) Total other (expense) income 60,820 (2,279,000) (2,218,180) Net loss $ (137,660) $ (2,279,000) $ (2,416,660) Basic and Diluted weighted-average Class A common stock 23,000,000 23,000,000 Basic and Diluted net loss per Class A common stock $ 0.00 $ 0.00 Basic and Diluted weighted-average Class B common stock 5,750,000 5,750,000 Basic and Diluted net loss per Class B common stock $ (0.02) $ (0.40) $ (0.42) For the Nine Months Ended September 30, 2020 As Previously Reported Restatement Adjustment As Restated Unaudited Condensed Statement of Operations Loss from operations $ (480,812) $ — $ (480,812) Other (expense) income: Change in fair value of derivative warrant liabilities — (5,198,670) (5,198,670) Financing cost - derivative warrant liabilities — (315,080) (315,080) Interest income from investments in Trust Account 194,901 — 194,901 Income tax expense (12,573) — (12,573) Total other (expense) income 182,328 (5,513,750) (5,331,422) Net loss $ (298,484) $ (5,513,750) $ (5,812,234) Basic and Diluted weighted-average Class A common shares outstanding 23,000,000 — 23,000,000 Basic and Diluted net loss per Class A share $ 0.00 — $ 0.00 Basic and Diluted weighted-average Class B common shares outstanding 5,750,000 (197,080) 5,552,920 Basic and Diluted net loss per Class B share $ (0.05) $ (1.00) $ (1.05) For the Nine Months Ended September 30, 2020 As Previously Restatement Reported Adjustment As Restated Unaudited Condensed Statement of Cash Flows Net loss $ (298,484) $ (5,513,750) $ (5,812,234) Change in fair value of derivative warrant liabilities — 5,198,670 5,198,670 Fiancing Cost- derivative warrant liabilities — 315,080 315,080 Initial value of Class A common stock subject to possible redemption 220,164,430 (11,207,500) 208,956,930 Change in fair value of Class A common stock subject to possible redemption (265,710) (5,198,670) (5,464,380) |