Condensed Statements of Cash Flows (Unaudited) - USD ($)
|
1 Months Ended |
9 Months Ended |
Sep. 30, 2019 |
Sep. 30, 2020 |
| Cash Flows from Operating Activities: |
|
|
| Net income (loss) |
$ (1,000)
|
$ 911,963
|
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |
|
|
| Interest earned on marketable securities held in Trust Account |
|
(1,782,663)
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses and other current assets |
|
(61,722)
|
| Accrued expenses |
1,000
|
119,180
|
| Income taxes payable |
|
82,420
|
| Net cash used in operating activities |
|
(730,822)
|
| Cash Flows from Investing Activities: |
|
|
| Investment of cash in Trust Account |
|
(241,500,000)
|
| Cash withdrawn from Trust Account to pay for franchise and income taxes |
|
160,000
|
| Net cash used in investing activities |
|
(241,340,000)
|
| Cash Flows from Financing Activities: |
|
|
| Proceeds from sale of Units, net of underwriting discounts paid |
|
236,670,000
|
| Proceeds from sale of Private Units |
|
6,180,000
|
| Proceeds from promissory note - related party |
7,500
|
43,340
|
| Repayment of promissory note - related party |
|
(124,148)
|
| Payment of offering costs |
(7,500)
|
(373,516)
|
| Net cash provided by financing activities |
|
242,395,676
|
| Net Change in Cash |
|
324,854
|
| Cash - Beginning of period |
|
|
| Cash - End of period |
|
324,854
|
| Non-Cash investing and financing activities: |
|
|
| Issuance of Representative Shares |
1,087
|
|
| Deferred offering costs paid directly by Sponsor from proceeds from issuance of common stock to Sponsor |
25,000
|
|
| Initial classification of common stock subject to possible redemption |
|
237,394,700
|
| Change in value of common stock subject to possible redemption |
|
$ 911,954
|