Condensed Statements of Cash Flows (Unaudited) - USD ($)
|
7 Months Ended |
9 Months Ended |
Sep. 30, 2019 |
Sep. 30, 2020 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 501,518
|
$ 677,406
|
| Adjustments to reconcile net income to net cash used in operating activities: |
|
|
| Interest earned on marketable securities held in Trust Account |
(696,010)
|
(1,338,785)
|
| Unrealized gain on marketable securities held in Trust Account |
(69,460)
|
(11,455)
|
| Deferred (benefit from) provision for income taxes |
14,587
|
(5,276)
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses and other current assets |
(137,412)
|
45,683
|
| Prepaid income taxes |
|
34,456
|
| Accounts payable and accrued expenses |
79,168
|
(18,978)
|
| Income tax payable |
118,729
|
150,890
|
| Net cash used in operating activities |
(188,880)
|
(466,059)
|
| Cash Flows from Investing Activities: |
|
|
| Investment of cash in Trust Account |
(172,500,000)
|
|
| Cash withdrawn for working capital purposes |
|
250,000
|
| Cash withdrawn to pay franchise taxes |
|
156,313
|
| Net cash provided by (used in) investing activities |
(172,500,000)
|
406,313
|
| Cash Flows from Financing Activities: |
|
|
| Proceeds from sale of Units, net of underwriting discounts paid |
169,050,000
|
|
| Proceeds from sale of Private Units |
2,375,000
|
|
| Proceeds from sale of Private Warrants |
2,375,000
|
|
| Advances from related party |
45,897
|
|
| Repayment of advances from related party |
(45,897)
|
|
| Proceeds from promissory note - related party |
150,000
|
|
| Repayment of promissory note - related party |
(150,000)
|
|
| Payment of offering costs |
(478,112)
|
|
| Net cash provided by financing activities |
173,321,888
|
|
| Net Change in Cash |
633,008
|
(59,746)
|
| Cash – Beginning |
|
419,303
|
| Cash – Ending |
633,008
|
359,557
|
| Non-cash investing and financing activities: |
|
|
| Initial classification of common stock subject to possible redemption |
168,321,530
|
|
| Change in value of common stock subject to possible redemption |
501,887
|
677,405
|
| Issuance of Representative Shares |
1,094
|
|
| Deferred offering costs paid directly by Sponsor in exchange for issuance of common stock to Sponsor |
$ 25,000
|
|