| Summarizes the effects of the restatement on the financial statements |
The table below summarizes the effects of the restatement on the financial statements for all periods being restated:
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As
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Previously
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As
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Reported
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Adjustments
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Restated
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Balance sheet as of August 3, 2020 (audited)
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Total Liabilities
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$
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72,450,000
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$
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83,422,000
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$
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155,872,000
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Class A Common Stock Subject to Possible Redemption
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1,998,159,110
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(83,422,000)
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1,914,737,110
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Class A Common Stock
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718
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835
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1,553
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Additional Paid-in Capital
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4,995,112
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2,166,701
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7,161,813
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Accumulated Deficit
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(1,000)
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(2,167,536)
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(2,168,536)
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Shareholders’ Equity
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5,000,005
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—
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5,000,005
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Number of shares subject to redemption
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199,815,911
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(8,342,200)
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191,473,711
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Balance sheet as of September 30, 2020 (unaudited)
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Total Liabilities
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$
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72,483,333
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$
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135,402,500
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$
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207,885,833
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Class A Common Stock Subject to Possible Redemption
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1,998,003,495
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(135,402,500)
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1,862,600,995
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Class A Common Stock
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721
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1,354
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2,075
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Additional Paid-in Capital
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5,150,724
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54,146,682
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59,297,406
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Accumulated Deficit
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(156,614)
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(54,148,036)
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(54,304,650)
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Shareholders’ Equity
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5,000,006
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—
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5,000,006
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Number of shares subject to redemption
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199,787,373
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(13,539,371)
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186,248,002
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Balance sheet as of December 31, 2020 (audited)
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Total Liabilities
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$
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73,978,373
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$
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142,200,500
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$
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216,178,873
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Class A Common Stock Subject to Possible Redemption
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1,995,638,270
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(142,200,500)
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1,853,437,770
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Class A Common Stock
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744
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1,422
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2,166
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Additional Paid-in Capital
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7,515,926
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60,944,614
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68,460,540
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Accumulated Deficit
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(2,521,839)
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(60,946,036)
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(63,467,875)
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Shareholders’ Equity
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5,000,006
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—
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5,000,006
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Number of shares subject to redemption
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199,563,827
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(14,220,050)
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185,343,777
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Statement of Operations for the three Month Ended September 30, 2020 (unaudited)
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Net loss
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$
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(155,614)
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$
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(54,148,036)
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$
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(54,303,650)
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Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption
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199,815,911
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(8,342,200)
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191,473,711
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Basic and diluted net income per share, Class A common stock subject to possible redemption
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0.00
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0.00
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0.00
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Basic and diluted weighted average shares outstanding, Non-redeemable common stock
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53,784,534
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5,259,213
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59,043,747
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Basic and diluted net loss per share, Non-redeemable common stock
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0.00
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(0.92)
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(0.92)
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Statement of Operations for the period from April 30, 2020 (inception) to September 30, 2020 (unaudited)
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Net loss
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$
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(156,614)
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$
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(54,148,036)
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$
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(54,304,650)
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Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption
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199,815,911
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(8,342,200)
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191,473,711
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Basic and diluted net income per share, Class A common stock subject to possible redemption
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0.00
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0.00
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0.00
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Basic and diluted weighted average shares outstanding, Non-redeemable common stock
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51,169,291
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3,693,493
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54,862,784
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Basic and diluted net loss per share, Non-redeemable common stock
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0.00
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(0.99)
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(0.99)
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Statement of Operations for the period from April 30, 2020 (inception) to December 31, 2020 (audited)
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Net loss
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$
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(2,521,839)
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$
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(60,946,036)
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$
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(63,467,875)
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Basic and diluted weighted average shares outstanding, Class A common stock subject to possible redemption
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199,798,408
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(11,529,798)
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188,268,610
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Basic and diluted net income per share, Class A common stock subject to possible redemption
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0.00
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0.00
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0.00
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Basic and diluted weighted average shares outstanding, Non-redeemable common stock
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54,384,479
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7,755,470
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62,139,949
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Basic and diluted net loss per share, Non-redeemable common stock
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(0.05)
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(0.97)
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(1.02)
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Statement of Cash Flows for the period from April 30, 2020 (inception) to December 31, 2020 (audited)
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Net loss
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$
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(2,521,839)
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$
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(60,946,036)
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$
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(63,467,875)
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Loss on warrant liabilities
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—
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58,778,500
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58,778,500
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Transaction costs attributable to Initial Public Offering
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—
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2,167,536
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2,167,536
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Initial classification of Class A common stock subject to possible redemption
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1,998,159,110
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(83,422,000)
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1,914,737,110
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Change in value of Class A common stock subject to possible redemption
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(2,520,840)
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(58,778,500)
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(61,299,340)
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Statement of Cash Flows for the period from April 30, 2020 (inception) to September 30, 2020 (unaudited)
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Net loss
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$
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(156,614)
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$
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(54,148,036)
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$
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(54,304,650)
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Loss on warrant liabilities
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—
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51,980,500
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51,980,500
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Transaction costs attributable to Initial Public Offering
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—
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2,167,536
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2,167,536
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Initial classification of Class A common stock subject to possible redemption
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1,998,159,110
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(83,422,000)
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1,914,737,110
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Change in value of Class A common stock subject to possible redemption
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(155,615)
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(51,980,500)
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(52,136,115)
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