Restatement of Previously Issued Financial Statements | Restatement of Previously Issued Financial Statements The Company restated certain line items related to the previously filed financial statements for June 30, 2021 and March 31, 2021 on Form 10-Q filed with the SEC on August 9, 2021 and May 12, 2021, respectively, to classify all Class A common stock in temporary equity. In accordance with the SEC and its staff’s guidance on redeemable equity instruments, which has been codified in Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”), paragraph 10-S99-3A, redemption provisions not solely within the control of the Company require common stock subject to redemption to be classified outside of permanent equity. The Company had previously classified 2,949,006 shares and 2,804,346 shares as of June 30, 2021 and March 31, 2021, respectively, in permanent equity. Although the Company did not specify a maximum redemption threshold, its amended and restated certificate of incorporation provides that the Company will not redeem its Public Shares in an amount that will cause its net tangible assets to be less than $5,000,001. Upon re-evaluation, the Company determined that the Class A common stock includes certain provisions that require classification of the Class A common stock as temporary equity regardless of the minimum net tangible assets threshold. As a result, the Company restated its previously filed financial statements to classify all Class A common stock as temporary equity and to remeasure from its initial book value to redemption value at the time of its Initial Public Offering and in accordance with ASC 480. The change in the carrying value of redeemable shares of Class A common stock resulted in charges against Additional paid-in capital and Accumulated deficit, as described below in more detail. In connection with the change in presentation for the Class A common stock subject to possible redemption, the Company also restated its earnings per share calculation to allocate net income (loss) pro-rata to Class A and Class F common stock. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of common shares share pro-rata in the income (loss) of the Company. There has been no change in the Company’s total assets, liabilities, operating results or liquidity, in any of the periods. Impact of Restatement - Quarterly Interim Periods (Unaudited) The following presents a reconciliation of the condensed balance sheets, condensed statements of operations, condensed statements of changes in stockholders’ equity and condensed statements of cash flows from the prior periods previously reported to the restated amounts as of June 30, 2021 and March 31, 2021, for the three and six months ended June 30, 2021 and for the three months ended March 31, 2021. June 30, 2021 Condensed Balance Sheet Data (Unaudited) As previously reported Adjustments As restated Class A common stock subject to possible redemption (as previously reported: 20,050,994 shares subject to possible redemption) as restated: 23,000,000 shares subject to possible redemption $ 200,509,940 $ 29,490,060 $ 230,000,000 Class A common stock, $0.0001 par value; (as previously reported: 2,949,006 shares issued and outstanding) as restated: no shares issued and outstanding $ 295 $ (295) $ — Additional paid-in capital $ 8,566,094 $ (8,566,094) $ — Accumulated deficit $ (3,566,960) $ (20,923,671) $ (24,490,631) Total Stockholders’ Equity $ 5,000,004 $ (29,490,060) $ (24,490,056) For the three months ended June 30, 2021 Condensed Statement of Operations (Unaudited) As previously reported Adjustments As restated Basic and diluted net income (loss) per share, $ 0.00 $ (0.05) $ (0.05) Basic and diluted net income (loss) per share, $ (0.25) $ 0.20 $ (0.05) For the six months ended June 30, 2021 Condensed Statement of Operations (Unaudited) As previously reported Adjustments As restated Basic and diluted net income (loss) per share, $ 0.00 $ (0.12) $ (0.12) Basic and diluted net income (loss) per share, $ (0.62) $ 0.50 $ (0.12) For the three months ended June 30, 2021 Condensed Statement of Changes in Stockholders’ Equity (Unaudited) As previously reported Adjustments As restated Change in Class A common stock subject to possible redemption: Class A Shares 144,660 (144,660) — Class A Amount $ 15 $ (15) $ — Additional paid-in capital $ 1,446,585 $ (1,446,585) $ — Total Stockholders’ Equity $ 1,446,600 $ (1,446,600) $ — For the six months ended June 30, 2021 Condensed Statement of Cash Flows (Unaudited) As previously reported Adjustments As restated Supplemental disclosure of non-cash financing activities: Class A common stock subject to possible redemption $ 200,509,940 $ (200,509,940) $ — March 31, 2021 Condensed Balance Sheet Data (Unaudited) As previously reported Adjustments As restated Class A common stock subject to possible redemption (as previously reported: 20,195,654 shares subject to possible redemption) as restated: 23,000,000 shares subject to possible redemption $ 201,956,540 $ 28,043,460 $ 230,000,000 Class A common stock, $0.0001 par value; (as previously reported: 2,804,346 shares issued and outstanding) as restated: no shares issued and outstanding $ 280 $ (280) $ — Additional paid-in capital $ 7,119,509 $ (7,119,509) $ — Accumulated deficit $ (2,120,363) $ (20,923,671) $ (23,044,034) Total Stockholders’ Equity $ 5,000,001 $ (28,043,460) $ (23,043,459) For the three months ended March 31, 2021 Condensed Statement of Operations (Unaudited) As previously reported Adjustments As restated Basic and diluted net income (loss) per share, $ 0.00 $ (0.07) $ (0.07) Basic and diluted net income (loss) per share, $ (0.37) $ 0.30 $ (0.07) For the three months ended March 31, 2021 Condensed Statement of Changes in Stockholders’ Equity (Unaudited) As previously reported Adjustments As restated Sale of Units in Initial Public Offering, net of offering Class A Shares 23,000,000 (23,000,000) — Class A Amount $ 2,300 $ (2,300) $ — Additional paid-in capital $ 209,049,604 $ (209,049,604) $ — Total Stockholders’ Equity $ 209,051,904 $ (209,051,904) $ — Class A common stock subject to possible redemption: Class A Shares (20,195,654) 20,195,654 — Class A Amount $ (2,020) $ 2,020 $ — Additional paid-in capital $ (201,954,520) $ 201,954,520 $ — Total Stockholders’ Equity $ (201,956,540) $ 201,956,540 $ — Remeasurement of Class A common stock subject to possible redemption to redemption value: Additional paid-in capital $ — $ (24,425) $ (24,425) Accumulated deficit $ — $ (20,923,671) $ (20,923,671) Total Stockholders’ Equity $ — $ (20,948,096) $ (20,948,096) For the three months ended March 31, 2021 Condensed Statement of Cash Flows (Unaudited) As previously reported Adjustments As restated Supplemental disclosure of non-cash financing activities: Class A common stock subject to possible redemption $ 201,956,540 $ (201,956,540) $ — |