XML 23 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
2 Months Ended 5 Months Ended 9 Months Ended
Sep. 30, 2019
Dec. 31, 2019
Sep. 30, 2020
Cash Flows from Operating Activities:      
Net loss $ (8,000) $ 32,110 $ (2,773,892)
Adjustments to reconcile net loss to net cash used in operating activities:      
Gain on investments, dividends and interest, held in the Trust Account (238,705) (1,004,649)
Changes in operating assets and liabilities:      
Prepaid expenses (217,566) (109,612)
Accounts payable   23,250 31,108
Accrued expenses 8,000 1,711 2,822,539
Franchise tax payable 83,836 15,534
Income tax payable 32,523 (32,523)
Net cash used in operating activities (282,841) (1,051,495)
Cash Flows from Investing Activities:      
Cash deposited in Trust Account (172,500,000)
Interest released from Trust Account to pay taxes 545,588
Net cash provided by investing activities (172,500,000) 545,588
Cash Flows from Financing Activities:      
Proceeds from sale of Class B common stock to Sponsor 25,000 25,000
Proceeds from note payable to related party   150,000  
Repayment of note payable to related party   (225,000)  
Proceeds received from initial public offering, gross   172,500,000  
Proceeds received from sale of private placement warrants   5,700,000  
Offering costs paid   (3,954,258)  
Net cash provided by financing activities 25,000 174,195,742
Net decrease in cash 25,000 1,412,901 (505,907)
Cash - beginning of the period 1,412,901
Cash - end of the period 25,000 1,412,901 906,994
Supplemental disclosure of noncash activities:      
Deferred offering costs included in Accrued offering costs and Accounts payable 38,000  
Offering costs paid directly by Sponsor 75,000  
Change in value of common stock subject to possible redemption   (2,773,900)
Deferred underwriting commissions associated with the initial public offering   6,037,500  
Offering cost included note payable to related party   75,000  
Offering cost included in accounts payable   4,500  
Offering cost included in accrued expenses   25,000  
Value of common stock subject to possible redemption $ 163,160,850