STATEMENTS OF CASH FLOWS - USD ($) |
3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Sep. 30, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
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Cash Flows from Operating Activities: | ||||||
Net (loss) income | $ (810,705) | $ (6,725,368) | $ 4,595,625 | $ 5,094,479 | $ (17,665,187) | $ 4,098,520 |
Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||||||
Gain on marketable securities, dividends and interest held in Trust Account | (6,992) | (1,128,747) | (1,760,594) | (3,322,448) | (1,261,249) | (4,554,158) |
Loss (gain) on revaluation of warrant liability | (9,942,500) | (5,763,750) | (3,617,500) | (2,666,250) | 16,533,750 | (520,000) |
Changes in operating assets and liabilities: | ||||||
Prepaid expenses | (60,016) | 16,903 | (101,988) | 51,905 | (62,738) | |
Accounts payable | 9,003,790 | 11,337 | (138,629) | 79,620 | 830,344 | 83,995 |
Accrued expenses | (172,311) | 41,140 | 82,575 | (87,694) | 770,551 | 6,166 |
Net cash used in operating activities | (367,324) | (97,749) | (836,317) | (1,002,075) | (739,886) | (948,215) |
Cash Flows from Investing Activities: | ||||||
Cash deposited in Trust Account | (287,500,000) | (287,500,000) | (287,500,000) | |||
Net cash used in investing activities | (287,500,000) | (287,500,000) | (287,500,000) | |||
Cash Flows from Financing Activities: | ||||||
Proceeds from note payable to related party | 250,000 | 250,000 | 250,000 | |||
Repayment of note payable and advances from related party | (252,206) | (252,206) | (250,000) | |||
Proceeds received from initial public offering, gross | 287,500,000 | 287,500,000 | 287,500,000 | |||
Proceeds from private placement | 7,750,000 | 7,750,000 | 7,750,000 | |||
Offering costs paid | (5,151,990) | (5,151,990) | (5,236,990) | |||
Net cash provided by financing activities | 0 | 0 | 290,095,804 | 290,095,804 | 0 | 290,013,010 |
Net change in cash | (367,324) | (97,749) | 1,759,487 | 1,593,729 | (739,886) | 1,564,795 |
Cash - beginning of period | 849,909 | 1,589,795 | 25,000 | 25,000 | 1,589,795 | 25,000 |
Cash - end of period | 482,585 | 1,492,046 | 1,784,487 | 1,618,729 | 849,909 | 1,589,795 |
Supplemental disclosure of noncash activities: | ||||||
Offering costs included in accounts payable | 2,600 | 2,600 | 2,600 | |||
Prepaid expenses included in accounts payable | 63,750 | |||||
Remeasurement of ordinary shares subject to possible redemption | 26,789,590 | 26,789,590 | 26,789,590 | |||
Deferred underwriting commissions | $ 9,187,500 | $ 9,187,500 | $ 9,187,500 |
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- Definition Amount of cash deposited in trust account. No definition available.
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- Definition Deferred Underwriting Commissions No definition available.
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- Definition Gain (Loss) on Revaluation of Warrant Liability. No definition available.
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- Definition Amount of gain on marketable securities, dividends and interest held in Trust Account. No definition available.
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- Definition Cash outflow associated with offering costs paid. No definition available.
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- Definition Carrying value as of the balance sheet date of obligations incurred and payable for the offering costs. No definition available.
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- Definition The amount of ordinary shares subject to possible redemption. No definition available.
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- Definition Prepaid expenses included in accounts payable No definition available.
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- References No definition available.
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- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The cash inflow from an entity that is affiliated with the entity by means of direct or indirect ownership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash inflow (outflow) from long-term debt supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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