| Summary of impact of the restatements on the Company's previously issued financial statements |
The impact of the restatements noted above on the Company’s previously issued financial statements is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
As Previously |
|
|
|
|
|
|
Balance Sheet as of June 11, 2021 (audited) |
|
Reported |
|
Adjustment |
|
As Restated |
Class A common stock subject to possible redemption |
|
$ |
131,721,200 |
|
$ |
18,278,800 |
|
$ |
150,000,000 |
Class A common stock |
|
$ |
183 |
|
$ |
(183) |
|
$ |
— |
Additional paid-in capital |
|
$ |
5,290,819 |
|
$ |
(5,290,819) |
|
$ |
— |
Accumulated deficit |
|
$ |
(291,432) |
|
$ |
(12,987,798) |
|
$ |
(13,279,230) |
Total Stockholders’ Equity (Deficit) |
|
$ |
5,000,001 |
|
$ |
(18,278,800) |
|
$ |
(13,278,799) |
Shares of Class A common stock subject to possible redemption |
|
|
13,172,120 |
|
|
1,827,880 |
|
|
15,000,000 |
Shares of Class A common stock |
|
|
1,827,880 |
|
|
(1,827,880) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
Balance Sheet as of June 30, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Class A common stock subject to possible redemption |
|
$ |
131,023,510 |
|
$ |
18,976,490 |
|
$ |
150,000,000 |
Class A common stock |
|
$ |
190 |
|
$ |
(190) |
|
$ |
— |
Additional paid-in capital |
|
$ |
5,988,502 |
|
$ |
(5,988,502) |
|
$ |
— |
Accumulated deficit |
|
$ |
(989,113) |
|
$ |
(12,987,798) |
|
$ |
(13,976,911) |
Total Stockholders’ Equity (Deficit) |
|
$ |
5,000,010 |
|
$ |
(18,976,490) |
|
$ |
(13,976,480) |
Shares of Class A common stock subject to possible redemption |
|
|
13,102,351 |
|
|
1,897,649 |
|
|
15,000,000 |
Shares of Class A common stock |
|
|
1,897,649 |
|
|
(1,897,649) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Statement of Changes in Stockholders’ Equity (Deficit) for the three months ended June 30, 2021 (unaudited) |
|
As Previously Reported |
|
Adjustment |
|
As Restated |
Sales of 15,000,000 Units, net of underwriting discounts |
|
$ |
136,800,951 |
|
$ |
(136,800,951) |
|
|
— |
Proceeds received in excess of fair value of 5,250,000 Private Placement Warrants, net of offering costs |
|
$ |
186,682 |
|
$ |
(186,682) |
|
|
— |
Initial value of common stock subject to possible redemption at IPO date |
|
$ |
(131,721,200) |
|
$ |
131,721,200 |
|
|
— |
Change in value of common stock subject to redemption |
|
$ |
697,690 |
|
$ |
(697,690) |
|
|
— |
Accretion for Class A common stock to redemption amount |
|
$ |
— |
|
$ |
(13,012,367) |
|
$ |
(13,012,367) |
Total stockholders’ equity (deficit) |
|
$ |
5,000,010 |
|
$ |
(18,976,490) |
|
$ |
(13,976,480) |
|
|
|
|
|
|
|
|
|
|
Statement of Operations for the Three Months Ended June 30, 2021 (audited) |
|
|
|
|
|
|
|
|
|
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
|
|
13,172,120 |
|
|
(11,061,009) |
|
|
2,111,111 |
Basic and diluted net loss per share, Class A common stock subject to possible redemption |
|
$ |
— |
|
$ |
(0.17) |
|
$ |
(0.17) |
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |
|
|
5,577,880 |
|
|
(1,827,880) |
|
|
3,750,000 |
Basic and diluted net loss per share, Non-redeemable common stock |
|
$ |
(0.18) |
|
$ |
0.01 |
|
$ |
(0.17) |
|
|
|
|
|
|
|
|
|
|
Statement of Operations for the Period from February 12, 2021 through June 30, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption |
|
|
13,172,120 |
|
|
(11,061,009) |
|
|
2,111,111 |
Basic and diluted net income per share, Class A common stock subject to possible redemption |
|
$ |
— |
|
$ |
(0.17) |
|
$ |
(0.17) |
Basic and diluted weighted average shares outstanding, Non-redeemable common stock |
|
|
4,007,257 |
|
|
(257,257) |
|
|
3,750,000 |
Basic and diluted net loss per share, Non-redeemable common stock |
|
$ |
(0.25) |
|
$ |
0.08 |
|
$ |
(0.17) |
|
|
|
|
|
|
|
|
|
|
Statement of Cash Flows for the Period from February 12, 2021 through June 30, 2021 (unaudited) |
|
|
|
|
|
|
|
|
|
Initial classification of Class A common stock subject to possible redemption |
|
$ |
131,721,200 |
|
$ |
18,278,800 |
|
$ |
150,000,000 |
|