| Restatement to Earnings Per Share Presentation |
Note 2 — Restatement to Earnings Per Share Presentation
The Company has restated its earnings per share calculation to allocate income and losses shared pro rata between its two classes of common stock; Class A common stock and Class B common stock. This presentation contemplates a Business Combination as the most likely outcome, in which case both classes of stock will share pro rata in the income and losses of the Company.
The impact to the financial statement follows:
CONDENSED STATEMENTS OF OPERATIONS
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For the three months ended March 31, 2021 |
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As Reported |
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Restatement |
|
As Restated |
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
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34,500,000 |
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(23,000,000) |
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|
11,500,000 |
Basic and diluted net income (loss) per share, Class A common stock subject to possible redemption |
|
$ |
— |
|
$ |
(0.06) |
|
$ |
(0.06) |
Basic and diluted, weighted average shares outstanding – Class A and Class B non-redeemable common stock |
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|
7,887,500 |
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(12,500) |
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|
7,875,000 |
Basic and diluted net income (loss) per share, common stock |
|
$ |
(0.15) |
|
$ |
0.09 |
|
$ |
(0.06) |
CONDENSED STATEMENTS OF OPERATIONS
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For the three months ended June 30, 2021 |
|
As Reported |
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Restatement |
|
As Restated |
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
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34,500,000 |
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|
— |
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|
34,500,000 |
Basic and diluted net income (loss) per share, Class A common stock subject to possible redemption |
|
$ |
— |
|
$ |
0.19 |
|
$ |
0.19 |
Basic and diluted, weighted average shares outstanding – Class A and Class B non-redeemable common stock |
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|
8,625,000 |
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|
— |
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|
8,625,000 |
Basic and diluted net income (loss) per share, common stock |
|
$ |
0.96 |
|
$ |
(0.77) |
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$ |
0.19 |
CONDENSED STATEMENTS OF OPERATIONS
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For the six months ended June 30, 2021 |
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As Reported |
|
Restatement |
|
As Restated |
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
|
|
34,500,000 |
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|
(11,436,464) |
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|
23,063,536 |
Basic and diluted net income (loss) per share, Class A common stock subject to possible redemption |
|
$ |
— |
|
$ |
0.23 |
|
$ |
0.23 |
Basic and diluted, weighted average shares outstanding – Class A and Class B non-redeemable common stock |
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|
8,258,287 |
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|
— |
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|
8,258,287 |
Basic and diluted net income (loss) per share, common stock |
|
$ |
0.86 |
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$ |
(0.63) |
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$ |
0.23 |
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