| Restatement Of Balance Sheet |
The Company concluded that the misstatement was not material to the
Post-IPO Balance Sheet and
the misstatement had no material impact to any prior interim
period. The effect of the revisions to the Post-IPO Balance Sheet is as
follows:
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As of March 18, 2021
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As Previously
Reported
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Restatement
Adjustment |
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As Restated |
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Balance Sheet
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Total assets
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$ |
981,444,800 |
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$ |
— |
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$ |
981,444,800 |
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Liabilities and stockholders’ equity
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Total current liabilities
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$ |
2,015,571 |
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$ |
— |
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$ |
2,015,571 |
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Deferred legal fees
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18,183 |
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— |
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18,183 |
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Deferred underwriting commissions
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34,212,500 |
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34,212,500 |
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Derivative warrant liabilities
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— |
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35,160,700 |
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35,160,700 |
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Total liabilities
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36,246,254 |
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35,160,700 |
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71,406,954 |
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Class A common stock, $0.0001 par value; shares subject to
possible redemption
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940,198,540 |
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(35,160,700 |
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905,037,840 |
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Stockholders’ equity
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Preferred stock- $0.0001 par value
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— |
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— |
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— |
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Class A common stock—$0.0001 par value
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373 |
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352 |
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725 |
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Class B common stock—$0.0001 par value
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2,444 |
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— |
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2,444 |
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Additional paid-in-capital
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5,087,286 |
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1,111,128 |
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6,198,414 |
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Accumulated deficit
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(90,097 |
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(1,111,480 |
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(1,201,577 |
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Total stockholders’ equity
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5,000,006 |
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— |
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5,000,006 |
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Total liabilities and stockholders’ equity
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$ |
981,444,800 |
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$ |
— |
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$ |
981,444,800 |
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