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Alussa Energy Acquisition (FREY)

Document And Entity Information

Document And Entity Information - shares3 Months Ended
Mar. 31, 2021May 14, 2021
Document Information Line Items
Entity Registrant NameAlussa Energy Acquisition Corp.
Document Type10-Q
Current Fiscal Year End Date--12-31
Amendment Flagfalse
Entity Central Index Key0001781115
Entity Current Reporting StatusYes
Entity Filer CategoryNon-accelerated Filer
Document Period End DateMar. 31,
2021
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Small Businesstrue
Entity Emerging Growth Companytrue
Entity Shell Companytrue
Entity Ex Transition Periodfalse
Entity Incorporation, State or Country CodeE9
Entity File Number001-39145
Entity Interactive Data CurrentYes
Class A Ordinary Shares
Document Information Line Items
Entity Common Stock, Shares Outstanding28,750,000
Class B Ordinary Shares
Document Information Line Items
Entity Common Stock, Shares Outstanding7,187,500

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)Mar. 31, 2021Dec. 31, 2020
Current Assets
Cash $ 334,000 $ 370,958
Prepaid expenses and other current assets219,917 234,167
Total Current Assets553,917 605,125
Marketable securities held in Trust Account289,838,722 289,834,441
Total Assets290,392,639 290,439,566
Current Liabilities
Accounts payable and accrued expenses8,133,536 3,405,463
Advance from related party550,000
Total Current Liabilities8,683,536 3,405,463
Deferred underwriting fee payable10,062,500 10,062,500
Warrant liabilities60,950,000 35,356,250
Total Liabilities79,696,036 48,824,213
Commitments (Note 6)
Class A ordinary shares subject to possible redemption, 20,403,682 and 23,470,955 shares at redemption value at March 31, 2021 and December 31, 2020205,696,595 236,615,344
Shareholders’ Equity
Preference shares, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding
Additional paid-in capital49,025,999 18,107,557
Accumulated deficit(44,027,545)(13,108,795)
Total Shareholders’ Equity5,000,008 5,000,009
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY290,392,639 290,439,566
Class A Ordinary Shares
Shareholders’ Equity
Common stock, value835 528
Total Shareholders’ Equity835 528
Class B Ordinary Shares
Shareholders’ Equity
Common stock, value719 719
Total Shareholders’ Equity $ 719 $ 719

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parentheticals) - $ / sharesMar. 31, 2021Dec. 31, 2020
Ordinary shares subject to possible redemption20,403,682 23,470,955
Preferred stock, par value (in Dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized2,000,000 2,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Class A Ordinary Shares
Ordinary shares, par value (in Dollars per share) $ 0.0001 $ 0.0001
Ordinary shares, authorized shares200,000,000 200,000,000
Ordinary shares, issued shares8,346,318 5,279,045
Ordinary shares, outstanding shares8,346,318 5,279,045
Class B Ordinary Shares
Ordinary shares, par value (in Dollars per share) $ 0.0001 $ 0.0001
Ordinary shares, authorized shares20,000,000 20,000,000
Ordinary shares, issued shares7,187,500 7,187,500
Ordinary shares, outstanding shares7,187,500 7,187,500

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Statement [Abstract]
Operating costs $ 5,329,281 $ 499,845
Loss from operations(5,329,281)(499,845)
Other income (expense):
Interest income4,281 892,590
Unrealized gain on marketable securities held in Trust Account 881,891
Change in fair value of warrant liabilities(25,593,750)7,668,750
Other income (expense)(25,589,469)9,443,231
Net income (loss) $ (30,918,750) $ 8,943,386
Weighted average redeemable ordinary shares outstanding, basic and diluted (in Shares)23,470,955 24,391,533
Basic and diluted net income per redeemable ordinary share (Note 3) (in Dollars per share) $ 0.03
Weighted average non-redeemable ordinary shares outstanding, basic and diluted (in Shares)12,466,545 11,545,967
Basic and diluted net income (loss) per non-redeemable ordinary share (Note 3) (in Shares)(2.48)0.71

Condensed Statements of Changes

Condensed Statements of Changes In Shareholders’ Equity (Unaudited) - USD ($)Class A Ordinary SharesClass B Ordinary SharesAdditional Paid in CapitalAccumulated DeficitTotal
Balance at Dec. 31, 2019 $ 436 $ 719 $ 9,778,630 $ (4,779,782) $ 5,000,003
Balance (in Shares) at Dec. 31, 20194,358,467 7,187,500
Class A ordinary shares subject to redemption $ (73) (8,943,307) (8,943,380)
Class A ordinary shares subject to redemption (in Shares)(738,384)
Net loss 8,943,386 8,943,386
Balance at Mar. 31, 2020 $ 363 $ 719 835,323 4,163,604 5,000,009
Balance (in Shares) at Mar. 31, 20203,620,083 7,187,500
Balance at Dec. 31, 2020 $ 528 $ 719 18,107,557 (13,108,795)5,000,009
Balance (in Shares) at Dec. 31, 20205,279,045 7,187,500
Class A ordinary shares subject to redemption $ 307 30,918,442 30,918,749
Class A ordinary shares subject to redemption (in Shares)3,067,273
Net loss(30,918,750)(30,918,750)
Balance at Mar. 31, 2021 $ 835 $ 719 $ 49,025,999 $ (44,027,545) $ 5,000,008
Balance (in Shares) at Mar. 31, 20218,346,318 7,187,500

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash Flows from Operating Activities:
Net income (loss) $ (30,918,750) $ 8,943,386
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account(4,281)(892,590)
Unrealized gain on marketable securities held in Trust Account (881,891)
Change in fair value of warrant liabilities25,593,750 (7,668,750)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets14,250 31,155
Accounts payable and accrued expenses4,728,073 66,527
Net cash used in operating activities(586,958)(402,163)
Cash Flows from Financing Activities:
Proceeds from promissory note - related party550,000
Net cash provided by financing activities550,000
Net Change in Cash(36,958)(402,163)
Cash – Beginning370,958 2,282,362
Cash – Ending334,000 1,880,199
Non-cash investing and financing activities:
Change in fair value of Class A ordinary shares subject to redemption $ (30,918,749) $ 8,943,381

Description of Organization and

Description of Organization and Business Operations3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONSNOTE 1. DESCRIPTION OF ORGANIZATION
AND BUSINESS OPERATIONS Alussa
Energy Acquisition Corp. (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company
on June 13, 2019. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). The
Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with
early stage and emerging growth companies. Although the Company is not limited to
a particular industry or sector for purposes of consummating a Business Combination, the Company intends to focus on businesses
that complement its management team’s expertise in the production, operation and development of crude oil and natural gas
wells and related infrastructure. All activity for the period from June 13,
2019 (inception) through November 29, 2019 was related to the Company’s formation and the initial public offering (the “Initial
Public Offering”), which is described below. Since the consummation of the Initial Public Offering through March 31, 2021,
all activity has related to identifying a target company for a Business Combination. The Company will not generate any operating
revenues until after the completion of a Business Combination, at the earliest. The Company generates non-operating income in the
form of interest income from the proceeds derived from the Initial Public Offering. The registration statements for the Company’s
Initial Public Offering were declared effective on November 27, 2019. On November 29, 2019, the Company consummated the Initial
Public Offering of 25,000,000 units (the “Units”), generating gross proceeds of $250,000,000, which is described in
Note 3. Each Unit consists of one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Class
A Shares”) and one-half of one warrant (the “Public Warrants”). Each whole Public Warrant entitles the holder
to purchase one Class A Share. The Class A Shares sold as part of the Units in the Initial Public Offering are referred to herein
as the “public shares.” Simultaneously with the closing of the
Initial Public Offering, the Company consummated the sale of 8,000,000 warrants (the “Private Placement Warrants”)
at a price of $1.00 per Private Placement Warrant in a private placement to the Company’s sponsor, Alussa Energy Sponsor
LLC (the “Sponsor”), generating gross proceeds of $8,000,000, which is described in Note 5. Following the closing of the Initial Public
Offering on November 29, 2019, an amount of $250,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the
Initial Public Offering, and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”)
and invested only in specified U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting
certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, which invest only in direct U.S. government
treasury obligations, until the earlier of (i) the consummation of the Business Combination and (ii) the Company’s failure
to consummate a Business Combination within the prescribed time. On December 4, 2019, the underwriters notified
the Company of their intention to fully exercise their over-allotment option on December 5, 2019. As such, on December 5, 2019
the Company consummated the sale of an additional 3,750,000 Units, at $10.00 per Unit, and the sale of an additional 750,000 Private
Placement Warrants, at $1.00 per Private Placement Warrant, generating total gross proceeds of $38,250,000. A total of $37,500,000
of the net proceeds was deposited into the Trust Account, bringing the aggregate proceeds held in the Trust Account to $287,500,000. Transaction costs amounted to $16,326,240,
consisting of $5,750,000 of underwriting fees, $10,062,500 of deferred underwriting fees and $513,740 of other costs. In addition,
at March 31, 2021, cash of $334,000 was held outside of the Trust Account and is available for working capital purposes. The Company’s management has broad
discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private
Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business
Combination. There is no assurance that the Company will be able to successfully effect a Business Combination. Placing funds in
the Trust Account may not protect those funds from third party claims against the Company. Although the Company will seek to have
all vendors, service providers, prospective target businesses or other entities it engages execute agreements with the Company
waiving any claim of any kind in or to any monies held in the Trust Account, there is no guarantee that such persons will execute
such agreements. The Sponsor has agreed that it will be liable to the Company under certain circumstances if and to the extent
any claims by such persons reduce the amount of funds in the Trust Account below a specified threshold. The Company has not independently
verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believes that the Sponsor’s only
assets are securities of the Company. Therefore, the Sponsor may not be able to satisfy those obligations should they arise. The
remaining net proceeds (not held in the Trust Account) may be used to pay for business, legal and accounting due diligence on prospective
acquisitions and continuing general and administrative expenses as well as any taxes. The Company will provide the holders of
the public shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their public shares
upon the completion of the Business Combination, either (i) in connection with a shareholder meeting called to approve the Business
Combination or (ii) by means of a tender offer, in either case at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest
(which interest shall be net of taxes payable) divided by the number of then outstanding public shares. Notwithstanding the foregoing,
if the Company seeks shareholder approval of the Business Combination and the Company does not conduct redemptions pursuant to
the tender offer rules, a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such
shareholder is acting in concert or as a “group” (as defined in Section 13(d)(3) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), will be restricted from redeeming its shares with respect to more than an aggregate
of 15% of the public shares. In connection with any shareholder vote required to approve any Business Combination, the Sponsor
and any other shareholder of the Company prior to the consummation of the Initial Public Offering (collectively with the Sponsor,
the “Initial Shareholders”) and the Company’s directors and officers will agree (i) to vote any of their respective
Ordinary Shares (as defined below) in favor of the initial Business Combination and (ii) not to redeem any of their Ordinary Shares
in connection therewith. The Company will proceed with a Business
Combination only if it has net tangible assets of at least $5,000,001 upon consummation of the Business Combination and, in the
case of a shareholder vote, a majority of the outstanding Ordinary Shares voted are voted in favor of the Business Combination.
The amount in the Trust Account is initially anticipated to be $10.00 per public share. The per-share amount to be distributed
to shareholders who properly redeem their shares will not be reduced by the deferred underwriting commissions the Company will
pay to the underwriters. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s
warrants. The New York Stock Exchange (the “NYSE”)
rules require that the Business Combination must be with one or more target businesses that together have an aggregate fair market
value equal to at least 80% of the balance in the Trust Account (less any Deferred Commissions (as defined below) and taxes payable
on interest earned) at the time of the Company signing a definitive agreement in connection with the Business Combination. If the Company has not completed a Business
Combination by November 29, 2021, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly
as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of
taxes payable, and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public
shares, which redemption will completely extinguish the rights of the Public Shareholders as shareholders (including the right
to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of the Company’s remaining shareholders and its Board of Directors, dissolve
and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors
and the requirements of other applicable law. In the event of a liquidation, the Public Shareholders will be entitled to receive
a full pro rata interest in the Trust Account ($10.00 per share, plus any pro rata interest earned on the Trust Account not previously
released to the Company and less up to $100,000 of interest to pay dissolution expenses). There will be no redemption rights or
liquidating distributions with respect to the Founder Shares (as defined in Note 6) or the Private Placement Warrants, which will
expire worthless if the Company fails to complete a Business Combination by November 29, 2021. On January 29, 2021, we entered into a
Business Combination Agreement (the “Business Combination Agreement”) with FREYR AS, a company organized under the
laws of Norway (“FREYR”), the Sponsor, in the capacity as the representative for the Alussa shareholders in accordance
with the terms and conditions of the Business Combination Agreement, FREYR Battery, a corporation in the form of a public limited
liability company organized under the laws of Luxembourg (“Pubco”), Norway Sub 1 AS, a private limited liability company
under the laws of Norway (“Norway Merger Sub 1”), Norway Sub 2 AS, a private limited liability company under the laws
of Norway (“Norway Merger Sub 2” and together with Norway Merger Sub 1, the “Norway Merger Subs”), Adama
Charlie Sub, a Cayman Islands exempted company (“Cayman Merger Sub”), certain shareholders of FREYR named in the Business
Combination Agreement (the “Major Shareholders”), and ATS NEXT AS, in the capacity as the representative for the Major
Shareholders in accordance with the terms and conditions of the Business Combination Agreement (the “Shareholder Representative”). Prior to the completion of the transactions
contemplated by the Business Combination Agreement, the Norway Merger Subs shall be wholly-owned subsidiaries of the Company. Pursuant to the terms of the Business Combination
Agreement, (a) the Company will merge with and into Cayman Merger Sub, with the Company continuing as the surviving entity (the
“Cayman Merger”), (b) the Company will distribute all of its interests in Norway Merger Sub 1 to Pubco, (c) FREYR will
merge with and into Norway Merger Sub 2, with Norway Merger Sub 2 continuing as the surviving entity (the “Norway Merger”),
(d) Norway Merger Sub 1 will merge with and into Pubco, with Pubco continuing as the surviving entity (the “Cross-Border
Merger”), as a result of which, (i) each issued and outstanding security of the Company immediately prior to the effective
time of the Cayman Merger shall be exchanged for the right of the holder thereof to receive securities of Pubco in accordance with
the Business Combination Agreement (or, in the case of Dissenting Purchaser Shareholders, if any, the right to receive the fair
value of such holder’s Dissenting Purchaser Ordinary Shares and such other rights as are granted by the Cayman Companies
Law), (ii) each issued and outstanding security of FREYR immediately prior to the effective time of the Norway Merger shall be
exchanged for the right of the holder thereof to receive securities of Norway Merger Sub 1 in accordance with the Business Combination
Agreement and (iii) each issued and outstanding security of Norway Merger Sub 1 immediately prior to the Cross-Border Effective
Time shall be exchanged for the right of the holder to receive securities of Pubco, all upon the terms and subject to the conditions
set forth in the Business Combination Agreement and in accordance with the provisions of applicable law. The Business Combination will be consummated
in accordance with the terms and subject to the conditions as further described in the Business Combination Agreement. Management continues to evaluate the impact of the COVID-19 pandemic on
the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s
financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of
the date of these condensed financial statements. The condensed financial statements do not include any adjustments that might result
from the outcome of this uncertainty.

Liquidity and Going Concern

Liquidity and Going Concern3 Months Ended
Mar. 31, 2021
Liquidity and Going Concern [Abstract]
LIQUIDITY AND GOING CONCERNNOTE 2. LIQUIDITY AND GOING CONCERN
As of March 31, 2021, the Company had $334,000
in its operating bank accounts, $289,838,722 in securities held in the Trust Account to be used for a Business Combination or to
repurchase or redeem its ordinary shares in connection therewith and working capital deficit of $(8,129,619). As of March 31, 2021,
approximately $2,338,700 of the amount on deposit in the Trust Account represented interest income and unrealized gain, which is
available to pay the Company’s tax obligations. Until the consummation of a Business Combination,
the Company will be using the funds not held in the Trust Account for identifying and evaluating prospective acquisition candidates,
performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to acquire,
and structuring, negotiating and consummating the Business Combination. The Company will need to raise additional
capital through loans or additional investments from its Sponsor, shareholders, officers, directors, or third parties. The Company’s
officers, directors and Sponsor may, but are not obligated to, loan the Company funds, from time to time or at any time, in whatever
amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. Accordingly, the Company
may not be able to obtain additional financing. If the Company is unable to raise additional capital, it may be required to take
additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending
the pursuit of a potential transaction, and reducing overhead expenses. The Company cannot provide any assurance that new financing
will be available on commercially acceptable terms, if at all. See Note 5 for further discussions of subsequent borrowings under
the loan note dated February 9, 2021. These conditions raise substantial doubt
about the Company’s ability to continue as a going concern through November 29, 2021, the date that the Company will be required
to cease all operations, except for the purpose of winding up, if a Business Combination is not consummated. These financial statements
do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might
be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES Basis of Presentation The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities
and Exchange Commission (the “SEC”). Certain information or footnote disclosures normally included in financial statements
prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial
reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial
position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements
include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial
position, operating results and cash flows for the periods presented. The accompanying unaudited condensed financial
statements should be read in conjunction with the Company’s Amendment No. 1 on Form 10-K/A for the year ended December 31,
2020 as filed with the SEC on May 6, 2021, which contains the audited financial statements (as restated) and notes thereto. The
financial information as of December 31, 2020 is derived from the audited financial statements (as restated) presented in the Company’s
amended Annual Report on Form 10-K/A for the year ended December 31, 2020. The interim results for the three months ended March
31, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future interim
periods. Emerging Growth Company The Company is an “emerging growth
company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012
(the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable
to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with
the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive
compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory
vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS
Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private
companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of
securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The
JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such
extended transition period which means that when a standard is issued or revised and it has different application dates for public
or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies
adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company
which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition
period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of the condensed financial
statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of income and expenses during the reporting period. Making estimates requires management to
exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or
set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates. Cash and Cash Equivalents The Company considers all highly liquid
investments purchased with an original maturity of three months or less to be cash equivalents. The Company did not have any cash
equivalents as of March 31, 2021 and December 31, 2020. Marketable Securities Held in Trust
Account At March 31, 2021 and December
31, 2020, the assets held in the Trust Account were substantially held in a money market fund holding U.S. Treasury Bills, which are classified
as trading securities in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 320 “Investments
– Debt and Equity Securities.” Ordinary Shares Subject to Possible
Redemption The Company accounts for its
ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from
Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value.
Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control
of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified
as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares
feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain
future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside
of the shareholders’ equity section of the Company’s condensed balance sheets. Income Taxes The Company accounts for income taxes under
ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities
for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the
expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation
allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for
uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and
measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax
return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing
authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense.
There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2021 and December 31,
2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material
deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The Company is considered an exempted Cayman
Islands Company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United
States. As such, the Company’s tax provision was zero for the period presented. Net Income (Loss) Per Ordinary Share Net income (loss) per ordinary share is
computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding for the period. The Company
applies the two-class method in calculating earnings per share. Class A ordinary shares subject to possible redemption at March
31, 2021 and December 31, 2020, which are not currently redeemable and are not redeemable at fair value, have been excluded from
the calculation of basic net income (loss) per ordinary share since such shares, if redeemed, only participate in their pro rata
share of the Trust Account earnings. The Company has not considered the effect of warrants sold in the Initial Public Offering
and the private placements to purchase 23,125,000 ordinary shares in the calculation of diluted net income (loss) per share, since
the exercise of the warrants into ordinary shares is contingent upon the occurrence of future events. As a result, diluted net
income (loss) per ordinary share is the same as basic net income (loss) per ordinary share for the period presented. Reconciliation of Net Income (Loss)
Per Ordinary Share The Company’s net income (loss) is
adjusted for the portion of income that is attributable to ordinary shares subject to possible redemption, as these shares only
participate in the earnings of the Trust Account and not the income or losses of the Company. Accordingly, basic and diluted net
income (loss) per ordinary share is calculated as follows:
Three Months Ended March 31,
2021 2020
Redeemable ordinary shares
Numerator:
Interest income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Net income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Denominator:
Weighted average redeemable ordinary shares outstanding, basic and diluted 23,470,955 24,391,533
Basic and diluted net income per redeemable ordinary share $ 0.00 $ 0.03
Non-redeemable ordinary shares
Numerator:
Net income (loss) $ (30,918,750 ) $ 8,943,386
Less: Net income attributable to redeemable ordinary shares (3,038 ) (780,199 )
Net income (loss) attributable to non-redeemable ordinary shares $ (30,921,788 ) $ 8,163,187
Denominator:
Weighted average non-redeemable ordinary shares outstanding, basic and diluted 12,466,545 11,545,967
Basic and diluted net income (loss) per non-redeemable ordinary share $ (2.48 ) $ 0.71 Concentration of Credit Risk Financial instruments that potentially
subject the Company to concentrations of credit risk consist of a cash account in a financial institution which, at times may exceed
the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes
the Company is not exposed to significant risks on such account. Fair Value of Financial Instruments The Company follows the guidance in ASC
820, “Fair Value Measurement”, for its financial assets and liabilities that are re-measured and reported at fair value
at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The fair value of the Company’s financial
assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with
the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants
at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize
the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal
assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify
assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: See Note 8 for additional information on
assets and liabilities measured at fair value. Public Warrants and Private Placement Warrants The Company evaluated the Public Warrants
and Private Placement Warrants (collectively, “Warrants”, which are discussed in Note 1, Note 3, Note 4, Note 7 and
Note 8) in accordance with ASC 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity”, and
concluded that a provision in the Warrant Agreement related to certain tender or exchange offers precludes the Warrants from being
accounted for as components of equity. As the Warrants meet the definition of a derivative as contemplated in ASC 815, “Derivatives
and Hedging”, the Warrants are recorded as derivative liabilities on the balance sheets and measured at fair value at inception
(concurrent with or shortly after the date of the IPO) and at each reporting date in accordance with ASC 820, with changes in fair
value recognized in the statements of operations in the period of change. Recently Issued Accounting Standards Management does not believe that any recently
issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying condensed
financial statements.

Initial Public Offering

Initial Public Offering3 Months Ended
Mar. 31, 2021
Initial Public Offering [Abstract]
INITIAL PUBLIC OFFERINGNOTE 4. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering,
the Company sold 28,750,000 Units, which includes the exercise by the underwriters of their over-allotment option in full of 3,750,000
Units, at a price of $10.00 per Unit. Each Unit consists of one Class A Share and one-half of one Warrant. Each whole Warrant entitles
the holder to purchase one Class A Share at a price of $11.50 per share. The Warrants will become exercisable on the later of 30
days after completion of the Business Combination or November 29, 2020 and will expire five years from the completion of the Business
Combination or earlier upon redemption or liquidation. The Company may redeem the Warrants at a price of $0.01 per Warrant upon
30 days’ notice, only in the event that the last sale price of the Class A Shares is at least $18.00 per share (as adjusted
for share splits, share dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20
trading days within a 30-trading day period ending on the third trading day prior to the date on which notice of redemption is
given. The Company will not redeem the Warrants unless a registration statement under the Securities Act covering the Class A Shares
issuable upon exercise of the Warrants is effective and a current prospectus relating to those shares is available throughout the
30 day redemption period, unless the Warrants may be exercised on a cashless basis and such cashless exercise is exempt from registration
under the Securities Act. If the Company redeems the Warrants as described above, management will have the option to require all
holders that wish to exercise their Warrants to do so on a cashless basis; provided that an exemption from registration is available.
No Warrants will be exercisable for cash unless the Company has an effective registration statement covering the Class A Shares
issuable upon exercise of the Warrants and a current prospectus relating to such shares. If the shares issuable upon exercise of
the Warrants are not registered under the Securities Act, holders will be permitted to exercise their Warrants on a cashless basis.
However, no Warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any Class
A Shares to holders seeking to exercise their Warrants, unless the issuance of the Class A Shares upon such exercise is registered
or qualified under the securities laws of the state of the exercising holder, or an exemption is available. In addition, if (x) the Company issues
additional ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business
Combination at an issue price or effective issue price of less than $9.20 per Class A Share (with such issue price or effective
issue price to be determined in good faith by the Company’s Board of Directors, and in the case of any such issuance to the
Sponsor or its affiliates, without taking into account any Founder Shares held by the sponsor or such affiliates prior to such
issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60%
of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation
of a Business Combination, and (z) the volume weighted average trading price of the Company’s Class A Shares during the 20
trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price,
the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent)
to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price
will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

Promissory Note - Related Party

Promissory Note - Related Party3 Months Ended
Mar. 31, 2021
Promissory Note Related Party [Abstract]
PROMISSORY NOTE - RELATED PARTYNOTE 5. PROMISSORY NOTE — RELATED
PARTY On February 9, 2021, the Company issued
an unsecured promissory note to the Sponsor pursuant to the working capital loans agreement as described in Note 6, by which the
Company may borrow up to $1,500,000 in the aggregate. The note is non-interest bearing and payable on the earlier to occur of (i)
the completion of an initial Business Combination or (ii) liquidation. During the three months ended March 31, 2021, the Sponsor
made a $550,000 advance to the Company to assist with operation expenses. On April 6, 2021, the Company borrowed $1,500,000 under
the loan note, net of the $550,000 advance. On April 30, 2021, the Sponsor elected to convert the loan note into 1,500,000 warrants
that are identical to the Private Placement Warrants.

Commitments

Commitments3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTSNOTE 6. COMMITMENTS On February 10, 2020, the Company entered
into a transactional support agreement with a service provider, pursuant to which the service provider agreed to assist the Company
in evaluating acquisition opportunities in the energy industry, including valuation and qualitative assessments, as well as investor
presentations. In 2021, the Company paid the service provider a fee of $100,000 and will pay the service provider an additional
fee upon the closing of a Business Combination. The fee payable at the closing of the Business Combination is dependent upon the
timing of the closing and ranges between $975,000 and $1,950,000. The additional fee will not be payable in the event the Company
does not consummate a Business Combination. On February 28, 2020, the Company entered
into a consulting agreement with a service provider, pursuant to which the service provider will provide the Company with advisory
or transaction support for a potential Business Combination. The Company will pay the service provider a fee of $75,000 per month,
for total fees of $225,000. In addition, on March 1, 2020, the Company entered into a transactional support agreement with the
same service provider, pursuant to which the Company agreed to pay the service provider a fee equal to 1% of the consideration
paid by the Company for the equity of a target company, up to a maximum fee of $5,000,000, if the Company consummates a Business
Combination with a target company located in certain countries, as listed in the agreement. The fee will not be payable in the
event the Company does not consummate a Business Combination. On April 27, 2020, the Company entered
into a consulting agreement, pursuant to which the consultant will provide the Company with advisory services for a potential Business
Combination with a specific counter-party. In the event the Company consummates the Business Combination, the Company will pay
the consultant 250,000 Euros. The underwriters were paid a cash fee of
2.0% per Unit, or $5,750,000 in the aggregate at the closing of the Initial Public Offering. Upon completion of the initial Business
Combination, the Underwriters will be entitled to $10,062,500, which constitutes the Underwriters’ deferred fee of 3.5%.
The deferred fee will be forfeited by the Underwriters solely in the event that the Company fails to complete a Business Combination,
subject to the terms of the underwriting agreement. The Company entered into an agreement,
commencing on November 25, 2019 through the earlier of the consummation of a Business Combination or the Company’s liquidation,
to pay an aggregate of $35,000 per month to the Sponsor for office space, administrative and support services, of which Mr. Daniel
Barcelo, the Company’s Chief Executive Officer and President, will be paid $20,000 per month and Mr. Nick De’Ath, the
Company’s Chief Technology Officer, will be paid $5,000 per month. The Company’s Sponsor, officers and directors, or
any of their respective affiliates, will be reimbursed for any out-of-pocket expenses incurred in connection with activities on
their behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. There
is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on behalf
of the Company. During the three months ended March 31, 2021 and 2020, the Company incurred and paid $105,000 in fees for these
services. In addition, in order to finance transaction
costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the
Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company
completes its initial Business Combination, it would repay such loaned amounts. In the event that the initial Business Combination
does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts
but no proceeds from the Trust Account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into
warrants at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the Private Placement
Warrants issued to the Sponsor. Simultaneously with the closing of the
Initial Public Offering, the Sponsor purchased an aggregate of 8,750,000 Private Placement Warrants at $1.00 per warrant, for an
aggregate purchase price of $8,750,000 from the Company. A portion of the proceeds from the sale of the Private Placement Warrants
were placed into the Trust Account. Each Private Placement Warrant is exercisable for one Class A Share at a price of $11.50 per
share. The Private Placement Warrants are identical to the Warrants included in the Units sold in the Initial Public Offering except
that the Private Placement Warrants: (i) will not be redeemable by the Company; (ii) may be exercised for cash or on a cashless
basis, as described in the registration statement relating to the Initial Public Offering, so long as they are held by the Sponsor
or any of its permitted transferees and (iii) are (including the ordinary shares issuable upon exercise of the Private Placement
Warrants) entitled to registration rights. Additionally, the Sponsor has agreed not to transfer, assign or sell any of the Private
Placement Warrants, including the Class A Shares issuable upon exercise of the Private Placement Warrants (except to certain permitted
transferees), until 30 days after the completion of the Business Combination.

Shareholders' Equity

Shareholders' Equity3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS’ EQUITYNOTE 7. SHAREHOLDERS’ EQUITY Preference Shares The Company is authorized to issue 2,000,000
preference shares with a par value of $0.0001. The Company’s Board of Directors will be authorized to fix the voting rights,
if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications,
limitations and restrictions thereof, applicable to the shares of each series. The Board of Directors will be able to, without
shareholder approval, issue preferred shares with voting and other rights that could adversely affect the voting power and other
rights of the holders of the Ordinary Shares and could have anti-takeover effects. At March 31, 2021 and December 31, 2020,
there were no preference shares issued or outstanding. Ordinary Shares The Company is authorized to issue 200,000,000
Class A Shares, with a par value of $0.0001 each, and 20,000,000 Class B ordinary shares, with a par value of $0.0001 each (the
“Class B Shares” and, together with the Class A Shares, the “Ordinary Shares”). Holders of the Ordinary
Shares are entitled to one vote for each Ordinary Share; provided that only holders of the Class B Shares have the right to vote
on the election of directors prior to the Business Combination. The Class B Shares will automatically convert into Class A Shares
at the time of the Business Combination, on a one-for-one basis, subject to adjustment for share splits, share dividends, rights
issuances, subdivisions, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein.
In the case that additional Class A Shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold
in the Initial Public Offering and related to the closing of the Business Combination, the ratio at which the Class B Shares shall
convert into Class A Shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree
to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A Shares
issuable upon conversion of all Class B Shares will equal, in the aggregate, 20% of the sum of all Ordinary Shares outstanding
upon completion of the Initial Public Offering plus all Class A Shares and equity-linked securities issued or deemed issued in
connection with the Business Combination, excluding any Ordinary Shares or equity-linked securities issued, or to be issued, to
any seller in the Business Combination, any Private Placement-equivalent Warrants issued to the Sponsor or its affiliates upon
conversion of loans made to the Company. Holders of Founder Shares may also elect to convert their Class B Shares into an equal
number of Class A Shares, subject to adjustment as provided above, at any time. At March 31, 2021 and December 31, 2020,
there were 8,346,318 and 5,279,045 Class A Shares issued and outstanding, excluding 20,403,682 and 23,470,955 Class A Shares subject
to possible redemption, respectively. At March 31, 2021 and December 31, 2020, there were 7,187,500 Class B Shares issued and outstanding. Founder Shares On June 14, 2019, an aggregate of 5,750,000
Class B Shares (the “Founder Shares”) were issued to the Sponsor for an aggregate purchase price of $25,000. In October
2019, the Company declared a share dividend satisfied by way of issuance of 0.125 of a share for each ordinary share in issue and
on November 25, 2019, the Company declared a share dividend satisfied by way of issuance of 0.111111 of a share for each ordinary
share in issue, resulting in an aggregate of 7,187,500 Founder Shares being held by the Sponsor. The 7,187,500 Founder Shares included
an aggregate of up to 937,500 Founder Shares that were subject to forfeiture if the over-allotment option was not exercised in
full by the Underwriters in order to maintain the Initial Shareholder’s ownership at 20% of the issued and outstanding Ordinary
Shares upon completion of the Initial Public Offering. As a result of the underwriters’ election to fully exercise their
over-allotment option on December 5, 2019, a total of 937,500 Founder Shares are no longer subject to forfeiture. The Founder Shares are identical to the
Class A Shares included in the Units being sold in the Initial Public Offering, except that the Founder Shares (i) have the voting
rights described above, (ii) are subject to certain transfer restrictions described below and (iii) are convertible into Class
A Shares on a one-for-one basis, subject to adjustment pursuant to the anti-dilution provisions contained therein. The Founder
Shares may not be transferred, assigned or sold until the earlier of (i) one year after the completion of the Business Combination
and (ii) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction
after the Business Combination that results in all of the Public Shareholders having the right to exchange their Class A Shares
for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of the Class A Shares equals or exceeds
$12.00 per share (as adjusted for share splits, share dividends, rights issuances, subdivisions, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Business Combination,
the Founder Shares will be released from the lock-up. Warrants Public Warrants may only be exercised for
a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will become
exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) 12 months from the closing of the
Initial Public Offering or November 29, 2020. The Public Warrants will expire five years from the completion of a Business Combination
or earlier upon redemption or liquidation. The Company will not be obligated to deliver
any Class A ordinary shares pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant
exercise unless a registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of
the Public Warrants is effective and a current prospectus relating to those shares is available throughout the 30 day redemption
period, unless the Public Warrants may be exercised on a cashless basis and such cashless exercise is exempt from registration
under the Securities Act. No Public Warrants will be exercisable for cash or on a cashless basis, and the Company will not be obligated
to issue any Class A ordinary shares to holders seeking to exercise their Public Warrants, unless the issuance of the Class A ordinary
shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption
is available. The Company has determined that after the
closing of a Business Combination, it will use its commercially reasonable efforts to file with the SEC a registration statement
registering the issuance, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the Public Warrants.
The Company will use its commercially reasonable efforts to cause the same to become effective within 60 business days after the
closing of the Business Combination and to maintain the effectiveness of such registration statement, and a current prospectus
relating thereto, until the expiration of the Public Warrants in accordance with the provisions of the Warrant Agreement. Notwithstanding
the above, if the Class A ordinary shares are, at the time of any exercise of a Public Warrant, not listed on a national securities
exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act
within 60 business days after the closing of the Business Combination, the holders of the Public Warrants shall have the right
to exercise their Public Warrants on a “cashless basis” in accordance with the Section 3(a)(9) of the Securities Act
and, by exchanging the Public Warrants for the number of Class A ordinary share per Public Warrant equal to the quotient obtained
by dividing (x) the product of the number of Class A ordinary shares underlying such Public Warrant, multiplied by the excess of
the fair market value over the exercise price by (y) the fair market value. Redemption of warrants when the price per
Class A ordinary share equals or exceeds $18.00. Once the Public Warrants become exercisable, the Company may redeem the Public
Warrants:
● In whole and not in part;
● At a price of $0.01 per Public Warrant
● Upon not less than 30 days’ prior written
notice of redemption to each Public Warrant holder
● If, and only if, the reported last sale price of
the Class A ordinary shares for any 20 trading days within a 30-trading day period ending on the third trading day prior to
the date on which the Company sends the notice of redemption to the Public Warrant holders equals or exceeds $18.00 per share
(as adjusted). If and when the Public Warrants become
redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying
securities for sale under all applicable state securities laws. The exercise price and number of ordinary
shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share
split, share dividend, rights issuance, subdivision, reorganization, recapitalization, merger or consolidation. However, except
as described below, the Public Warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price.
Additionally, in no event will the Company be required to net cash settle the Public Warrants. If the Company is unable to complete
a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of
Public Warrants will not receive any of such funds with respect to their Public Warrants, nor will they receive any distribution
from the Company’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the Public
Warrants may expire worthless. In addition, if (x) the Company issues
additional ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business
Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or
effective issue price to be determined in good faith by the Company’s Board of Directors, and in the case of any such issuance
to the Sponsor or its affiliates, without taking into account any Founder Shares held by the sponsor or such affiliates prior to
such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than
60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the
consummation of a Business Combination, and (z) the volume weighted average trading price of the Company’s Class A ordinary
shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business
Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the Public Warrants will
be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00
per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value
and the Newly Issued Price. The Private Placement Warrants
are identical to the Warrants included in the Units sold in the Initial Public Offering except that the Private Placement Warrants: (i)
will not be redeemable by the Company; (ii) may be exercised for cash or on a cashless basis, as described in the registration statement
relating to the Initial Public Offering, so long as they are held by the Sponsor or any of its permitted transferees and (iii) are (including
the ordinary shares issuable upon exercise of the Private Placement Warrants) entitled to registration rights. Additionally, the Sponsor
has agreed not to transfer, assign or sell any of the Private Placement Warrants, including the Class A Shares issuable upon exercise
of the Private Placement Warrants (except to certain permitted transferees), until 30 days after the completion of the Business Combination.

Fair Value Measurements

Fair Value Measurements3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTSNOTE 8. FAIR VALUE MEASUREMENTS The Company follows the guidance in ASC
Topic 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and
non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The fair value of the Company’s
financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection
with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market
participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks
to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable
inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy
is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets
and liabilities:
Level
1: Quoted
prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which
transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing
basis.
Level 2: Observable inputs other than Level
1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted
prices for identical assets or liabilities in markets that are not active.
Level 3: Unobservable inputs based on our assessment
of the assumptions that market participants would use in pricing the asset or liability. The following table presents information
about the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2021 and December
31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
March 31, 2021
Level 1 Level 2 Level 3 Total
Assets:
Marketable securities held in Trust Account $ 289,838,722 $ - $ - $ 289,838,722
Total fair value $ 289,838,722 $ - $ - $ 289,838,722
Liabilities:
Public Warrants $ 32,775,000 $ - $ - $ 32,775,000
Private Placement Warrants - - 28,175,000 28,175,000
Total fair value $ 32,775,000 $ - $ 28,175,000 $ 60,950,000
December 31, 2020
Level 1 Level 2 Level 3 Total
Assets:
Marketable securities held in Trust Account $ 289,834,441 $ - $ - $ 289,834,441
Total fair value $ 289,834,441 $ - $ - $ 289,834,441
Liabilities:
Public Warrants $ 17,681,250 $ - $ - $ 17,681,250
Private Placement Warrants - - 17,675,000 17,675,000
Total fair value $ 17,681,250 $ - $ 17,675,000 $ 35,356,250 Public Warrants and Private Placement
Warrants The Public Warrants and Private Placement
Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the balance
sheets. The warrant liabilities are measured at fair value at issuance and on a recurring basis, with changes in fair value presented
within change in fair value of warrant liabilities in the statements of operations. As of March 31, 2021
and December 31, 2020, the Public Warrants were classified as a Level 1 fair value measurement due to the use of an observable
market quote in an active market under the ticker ALUS.WS and the Private Placement Warrants were classified as a Level 3 fair
value measurement based on the use of unobservable inputs. As of March 31, 2021 and December 31, 2020, the fair value of the Public
Warrants was $32,775,000 and $17,681,250, respectively, based on the closing price of ALUS.WS on the respective dates of $2.28
and $1.23 per Public Warrant, respectively. The Company’s
use of the Black-Scholes option pricing model for the Private Placement Warrants as of March 31, 2021 and December 31, 2020 required
the use of subjective assumptions:
● The
risk-free interest rate assumption was based on the U.S. Constant Maturity Treasury yield,
which was commensurate with the contractual terms of the Private Placement Warrants,
which expire on the earlier of (i) five years after the completion of the initial Business
Combination and (ii) redemption or liquidation. An increase in the risk-free interest
rate in isolation, would result in an increase in the fair value measurement of the warrant
liabilities and vice versa.
● The
expected term was determined to be 5.2 and 5.5 years as of March 31, 2021 and December
31, 2020, respectively, as the Private Placement Warrants become exercisable on the later
of (i) 30 days after the completion of the Business Combination and (ii) 12 months from
the IPO date or November 29, 2020. An increase in the expected term, in isolation, would
result in an increase in the fair value measurement of the warrant liabilities and vice
versa.
● The
expected volatility assumption was based on the implied volatility from a set of comparable
publicly-traded warrants as determined based on the size and proximity of other similar
business combinations. An increase in expected volatility, in isolation, would result
in an increase in the fair value measurement of the warrant liabilities and vice versa.
● The
fair value of the Units, which each consist of one Class A ordinary shares and one-half
of one Public Warrant, represents the closing price on the measurement date as observed
from the ticker ALUS.U. The key inputs into the Black-Scholes
option model for the Private Placement Warrants were as follows on each respective date:
March 31, December 31,
Risk-free interest rate 0.96 % 0.43 %
Term (years) 5.2 5.5
Volatility 40.03 % 26.17 %
Dividend yield 0.0 % 0.0 %
Exercise price $ 11.50 $ 11.50
Share price $ 10.00 $ 10.06 The following table presents changes in
the Level 3 Private Placement Warrants measured at fair value for the three months ended March 31, 2021 and 2020:
Public Private Warrant
Fair value as of December 31, 2020 $ 17,681,250 $ 17,675,000 $ 35,356,250
Change in fair value of warrant liabilities 15,093,750 10,500,000 25,593,750
Fair value as of March 31, 2021 $ 32,775,000 $ 28,175,000 $ 60,950,000
Fair value as of December 31, 2019 $ 18,975,000 $ 11,987,500 $ 30,962,500
Change in fair value of warrant liabilities (8,193,750 ) 525,000 (7,668,750 )
Fair value as of March 31, 2020 $ 10,781,250 $ 12,512,500 $ 23,293,750

Subsequent Events

Subsequent Events3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTSNOTE 9. SUBSEQUENT EVENTS The Company evaluated subsequent events
and transactions that occurred after the balance sheet date up to the date that the condensed financial statements were issued.
Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in
the condensed financial statements.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities
and Exchange Commission (the “SEC”). Certain information or footnote disclosures normally included in financial statements
prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial
reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial
position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements
include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial
position, operating results and cash flows for the periods presented. The accompanying unaudited condensed financial
statements should be read in conjunction with the Company’s Amendment No. 1 on Form 10-K/A for the year ended December 31,
2020 as filed with the SEC on May 6, 2021, which contains the audited financial statements (as restated) and notes thereto. The
financial information as of December 31, 2020 is derived from the audited financial statements (as restated) presented in the Company’s
amended Annual Report on Form 10-K/A for the year ended December 31, 2020. The interim results for the three months ended March
31, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future interim
periods.
Emerging Growth CompanyEmerging Growth Company The Company is an “emerging growth
company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012
(the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable
to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with
the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive
compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory
vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS
Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private
companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of
securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The
JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such
extended transition period which means that when a standard is issued or revised and it has different application dates for public
or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies
adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company
which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition
period difficult or impossible because of the potential differences in accounting standards used.
Use of EstimatesUse of Estimates The preparation of the condensed financial
statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of income and expenses during the reporting period. Making estimates requires management to
exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or
set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates.
Cash and Cash EquivalentsCash and Cash Equivalents The Company considers all highly liquid
investments purchased with an original maturity of three months or less to be cash equivalents. The Company did not have any cash
equivalents as of March 31, 2021 and December 31, 2020.
Marketable Securities Held in Trust AccountMarketable Securities Held in Trust
Account At March 31, 2021 and December
31, 2020, the assets held in the Trust Account were substantially held in a money market fund holding U.S. Treasury Bills, which are classified
as trading securities in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 320 “Investments
– Debt and Equity Securities.”
Ordinary Shares Subject to Possible RedemptionOrdinary Shares Subject to Possible
Redemption The Company accounts for its
ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from
Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value.
Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control
of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified
as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares
feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain
future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside
of the shareholders’ equity section of the Company’s condensed balance sheets.
Income TaxesIncome Taxes The Company accounts for income taxes under
ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities
for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the
expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation
allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for
uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and
measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax
return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing
authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense.
There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2021 and December 31,
2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material
deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The Company is considered an exempted Cayman
Islands Company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United
States. As such, the Company’s tax provision was zero for the period presented.
Net Income (Loss) Per Ordinary ShareNet Income (Loss) Per Ordinary Share Net income (loss) per ordinary share is
computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding for the period. The Company
applies the two-class method in calculating earnings per share. Class A ordinary shares subject to possible redemption at March
31, 2021 and December 31, 2020, which are not currently redeemable and are not redeemable at fair value, have been excluded from
the calculation of basic net income (loss) per ordinary share since such shares, if redeemed, only participate in their pro rata
share of the Trust Account earnings. The Company has not considered the effect of warrants sold in the Initial Public Offering
and the private placements to purchase 23,125,000 ordinary shares in the calculation of diluted net income (loss) per share, since
the exercise of the warrants into ordinary shares is contingent upon the occurrence of future events. As a result, diluted net
income (loss) per ordinary share is the same as basic net income (loss) per ordinary share for the period presented.
Reconciliation of Net Income (Loss) Per Ordinary ShareReconciliation of Net Income (Loss)
Per Ordinary Share The Company’s net income (loss) is
adjusted for the portion of income that is attributable to ordinary shares subject to possible redemption, as these shares only
participate in the earnings of the Trust Account and not the income or losses of the Company. Accordingly, basic and diluted net
income (loss) per ordinary share is calculated as follows:
Three Months Ended March 31,
2021 2020
Redeemable ordinary shares
Numerator:
Interest income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Net income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Denominator:
Weighted average redeemable ordinary shares outstanding, basic and diluted 23,470,955 24,391,533
Basic and diluted net income per redeemable ordinary share $ 0.00 $ 0.03
Non-redeemable ordinary shares
Numerator:
Net income (loss) $ (30,918,750 ) $ 8,943,386
Less: Net income attributable to redeemable ordinary shares (3,038 ) (780,199 )
Net income (loss) attributable to non-redeemable ordinary shares $ (30,921,788 ) $ 8,163,187
Denominator:
Weighted average non-redeemable ordinary shares outstanding, basic and diluted 12,466,545 11,545,967
Basic and diluted net income (loss) per non-redeemable ordinary share $ (2.48 ) $ 0.71
Concentration of Credit RiskConcentration of Credit Risk Financial instruments that potentially
subject the Company to concentrations of credit risk consist of a cash account in a financial institution which, at times may exceed
the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes
the Company is not exposed to significant risks on such account.
Fair Value of Financial InstrumentsFair Value of Financial Instruments The Company follows the guidance in ASC
820, “Fair Value Measurement”, for its financial assets and liabilities that are re-measured and reported at fair value
at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The fair value of the Company’s financial
assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with
the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants
at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize
the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal
assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify
assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: See Note 8 for additional information on
assets and liabilities measured at fair value.
Public Warrants and Private Placement WarrantsPublic Warrants and Private Placement Warrants The Company evaluated the Public Warrants
and Private Placement Warrants (collectively, “Warrants”, which are discussed in Note 1, Note 3, Note 4, Note 7 and
Note 8) in accordance with ASC 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity”, and
concluded that a provision in the Warrant Agreement related to certain tender or exchange offers precludes the Warrants from being
accounted for as components of equity. As the Warrants meet the definition of a derivative as contemplated in ASC 815, “Derivatives
and Hedging”, the Warrants are recorded as derivative liabilities on the balance sheets and measured at fair value at inception
(concurrent with or shortly after the date of the IPO) and at each reporting date in accordance with ASC 820, with changes in fair
value recognized in the statements of operations in the period of change.
Recently Issued Accounting StandardsRecently Issued Accounting Standards Management does not believe that any recently
issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying condensed
financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of basic and diluted loss per ordinary shareThree Months Ended March 31,
2021 2020
Redeemable ordinary shares
Numerator:
Interest income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Net income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Denominator:
Weighted average redeemable ordinary shares outstanding, basic and diluted 23,470,955 24,391,533
Basic and diluted net income per redeemable ordinary share $ 0.00 $ 0.03
Non-redeemable ordinary shares
Numerator:
Net income (loss) $ (30,918,750 ) $ 8,943,386
Less: Net income attributable to redeemable ordinary shares (3,038 ) (780,199 )
Net income (loss) attributable to non-redeemable ordinary shares $ (30,921,788 ) $ 8,163,187
Denominator:
Weighted average non-redeemable ordinary shares outstanding, basic and diluted 12,466,545 11,545,967
Basic and diluted net income (loss) per non-redeemable ordinary share $ (2.48 ) $ 0.71

Fair Value Measurements (Tables

Fair Value Measurements (Tables)3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basisMarch 31, 2021
Level 1 Level 2 Level 3 Total
Assets:
Marketable securities held in Trust Account $ 289,838,722 $ - $ - $ 289,838,722
Total fair value $ 289,838,722 $ - $ - $ 289,838,722
Liabilities:
Public Warrants $ 32,775,000 $ - $ - $ 32,775,000
Private Placement Warrants - - 28,175,000 28,175,000
Total fair value $ 32,775,000 $ - $ 28,175,000 $ 60,950,000
December 31, 2020
Level 1 Level 2 Level 3 Total
Assets:
Marketable securities held in Trust Account $ 289,834,441 $ - $ - $ 289,834,441
Total fair value $ 289,834,441 $ - $ - $ 289,834,441
Liabilities:
Public Warrants $ 17,681,250 $ - $ - $ 17,681,250
Private Placement Warrants - - 17,675,000 17,675,000
Total fair value $ 17,681,250 $ - $ 17,675,000 $ 35,356,250
Schedule of the Black-Scholes option model for the Private Placement WarrantsMarch 31, December 31,
Risk-free interest rate 0.96 % 0.43 %
Term (years) 5.2 5.5
Volatility 40.03 % 26.17 %
Dividend yield 0.0 % 0.0 %
Exercise price $ 11.50 $ 11.50
Share price $ 10.00 $ 10.06
Schedule of changes in the Level 3 Private Placement Warrants measured at fair valuePublic Private Warrant
Fair value as of December 31, 2020 $ 17,681,250 $ 17,675,000 $ 35,356,250
Change in fair value of warrant liabilities 15,093,750 10,500,000 25,593,750
Fair value as of March 31, 2021 $ 32,775,000 $ 28,175,000 $ 60,950,000
Fair value as of December 31, 2019 $ 18,975,000 $ 11,987,500 $ 30,962,500
Change in fair value of warrant liabilities (8,193,750 ) 525,000 (7,668,750 )
Fair value as of March 31, 2020 $ 10,781,250 $ 12,512,500 $ 23,293,750

Description of Organization a_2

Description of Organization and Business Operations (Details) - USD ($)Dec. 05, 2019Nov. 29, 2019Mar. 31, 2021Dec. 04, 2019
Description of Organization and Business Operations (Details) [Line Items]
Initial public offering, descriptionFollowing the closing of the Initial Public Offering on November 29, 2019, an amount of $250,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering, and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”) and invested only in specified U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, which invest only in direct U.S. government treasury obligations, until the earlier of (i) the consummation of the Business Combination and (ii) the Company’s failure to consummate a Business Combination within the prescribed time.
Transaction costs $ 16,326,240
Underwriting fees5,750,000
Deferred underwriting fees10,062,500
Other cost513,740
Working capital $ 334,000
Aggregate public shares15.00%
Net tangible assets at least $ 5,000,001
Trust account public per share (in Dollars per share) $ 10
Aggregate fair market value80.00%
Business combination, descriptionthe aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable, and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish the rights of the Public Shareholders as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and its Board of Directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. In the event of a liquidation, the Public Shareholders will be entitled to receive a full pro rata interest in the Trust Account ($10.00 per share, plus any pro rata interest earned on the Trust Account not previously released to the Company and less up to $100,000 of interest to pay dissolution expenses). There will be no redemption rights or liquidating distributions with respect to the Founder Shares (as defined in Note 6) or the Private Placement Warrants, which will expire worthless if the Company fails to complete a Business Combination by November 29, 2021
Initial Public Offering [Member]
Description of Organization and Business Operations (Details) [Line Items]
Number of units issued (in Shares)25,000,000
Generating gross proceeds $ 250,000,000 $ 8,000,000
Shares issued price per share (in Dollars per share) $ 0.0001
Sale of an aggregate of warrants (in Shares)8,000,000
Ordinary shares (in Dollars per share) $ 1
Private Placement [Member]
Description of Organization and Business Operations (Details) [Line Items]
Shares issued price per share (in Dollars per share) $ 10 $ 1
Sale of an aggregate of warrants (in Shares)3,750,000
Sale an additional warrants (in Shares)750,000
Generating gross proceeds $ 38,250,000
Net proceeds37,500,000
Trust account $ 287,500,000

Liquidity and Going Concern (De

Liquidity and Going Concern (Details)3 Months Ended
Mar. 31, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash $ 334,000
Securities held in trust account289,838,722
Working capital deficit(8,129,619)
Interest Income, Other $ 2,338,700

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)3 Months Ended
Mar. 31, 2021USD ($)
Accounting Policies [Abstract]
Private placement to purchase ordinary shares $ 23,125,000
Federal depository insurance coverage $ 250,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of basic and diluted loss per ordinary share - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Numerator:
Interest income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Net income attributable to redeemable ordinary shares $ 3,038 $ 780,199
Denominator:
Weighted average redeemable ordinary shares outstanding, basic and diluted (in Shares)23,470,955 24,391,533
Basic and diluted net income per redeemable ordinary share (in Shares)0 0.03
Numerator:
Net income (loss) $ (30,918,750) $ 8,943,386
Less: Net income attributable to redeemable ordinary shares $ (3,038) $ (780,199)
Net income (loss) attributable to non-redeemable ordinary shares (in Shares)(30,921,788)8,163,187
Denominator:
Weighted average non-redeemable ordinary shares outstanding, basic and diluted $ 12,466,545 $ 11,545,967
Basic and diluted net income (loss) per non-redeemable ordinary share (in Dollars per share) $ (2.48) $ 0.71

Initial Public Offering (Detail

Initial Public Offering (Details)3 Months Ended
Mar. 31, 2021$ / sharesshares
Initial Public Offering [Member]
Initial Public Offering (Details) [Line Items]
Sale of units (in Shares) | shares28,750,000
Over allotment option unit (in Shares) | shares3,750,000
Warrant per share $ 0.01
Business combination at an issue price descriptionIn addition, if (x) the Company issues additional ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class A Share (with such issue price or effective issue price to be determined in good faith by the Company’s Board of Directors, and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the sponsor or such affiliates prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination, and (z) the volume weighted average trading price of the Company’s Class A Shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.
Initial Public Offering [Member]
Initial Public Offering (Details) [Line Items]
Sale of stock per share $ 10
Class A Ordinary shares [Member]
Initial Public Offering (Details) [Line Items]
Sale of stock per share11.50
Class A Ordinary shares [Member] | Initial Public Offering [Member]
Initial Public Offering (Details) [Line Items]
Sale of stock per share $ 18

Promissory Note - Related Par_2

Promissory Note - Related Party (Details) - USD ($)Apr. 30, 2021Apr. 06, 2021Mar. 31, 2021Feb. 09, 2021
Related Party Transactions [Abstract]
Unsecured promissory note $ 1,500,000
Promissory note related party, descriptionThe note is non-interest bearing and payable on the earlier to occur of (i) the completion of an initial Business Combination or (ii) liquidation.
Sponsors advance $ 550,000
Borrowing amount $ 1,500,000
Net advances $ 550,000
Convertible Warrants of Private Placement Warrants $ 1,500,000

Commitments (Details)

Commitments (Details)1 Months Ended3 Months Ended
Apr. 27, 2020EUR (€)Feb. 28, 2020USD ($)Nov. 25, 2019USD ($)Mar. 31, 2021USD ($)$ / sharessharesMar. 31, 2020USD ($)
Commitments (Details) [Line Items]
Business combination company liquidation $ 35,000
Service fee $ 105,000 $ 105,000
Convertible into warrants1,500,000
Transactional Support Agreement [Member]
Commitments (Details) [Line Items]
Service provider fee $ 100,000
Business combination, descriptionThe fee payable at the closing of the Business Combination is dependent upon the timing of the closing and ranges between $975,000 and $1,950,000.
Consulting Agreement [Member]
Commitments (Details) [Line Items]
Service provider fee $ 75,000
Business combination, descriptionIn addition, on March 1, 2020, the Company entered into a transactional support agreement with the same service provider, pursuant to which the Company agreed to pay the service provider a fee equal to 1% of the consideration paid by the Company for the equity of a target company, up to a maximum fee of $5,000,000, if the Company consummates a Business Combination with a target company located in certain countries, as listed in the agreement.
Total service provider fee $ 225,000
Business combination (in Euro) | € € 250,000
Mr. Daniel Barcelo [Member]
Commitments (Details) [Line Items]
Business combination company liquidation20,000
Mr. Nick De'Ath [Member]
Commitments (Details) [Line Items]
Business combination company liquidation $ 5,000
Initial Public Offering [Member]
Commitments (Details) [Line Items]
Cash fee, percentage2.00%
Proposed public offering $ 5,750,000
Underwriters fees $ 10,062,500
Deferred fee, percentage3.50%
Warrant price (in Dollars per share) | $ / shares $ 0.01
Aggregate purchase price (in Shares) | shares8,750,000
Private Placement [Member]
Commitments (Details) [Line Items]
Warrant price (in Dollars per share) | $ / shares $ 1
Aggregate purchase price (in Shares) | shares8,750,000
Warrant [Member]
Commitments (Details) [Line Items]
Warrant price (in Dollars per share) | $ / shares $ 1
Class A Ordinary Shares
Commitments (Details) [Line Items]
Stock per share (in Dollars per share) | $ / shares11.50
Class A Ordinary Shares | Initial Public Offering [Member]
Commitments (Details) [Line Items]
Stock per share (in Dollars per share) | $ / shares18
Class A Ordinary Shares | Private Placement [Member]
Commitments (Details) [Line Items]
Stock per share (in Dollars per share) | $ / shares $ 11.50

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)1 Months Ended3 Months Ended12 Months Ended
Nov. 25, 2019Oct. 31, 2019Mar. 31, 2021Dec. 31, 2020Dec. 05, 2019Jun. 14, 2019
Shareholders' Equity (Details) [Line Items]
Preference shares authorized2,000,000 2,000,000
Preference shares, par value (in Dollars per share) $ 0.0001 $ 0.0001
Issued and outstanding ordinary shares percentage20.00%20.00%
Aggregate purchase price of founder shares7,187,500 937,500
Issuance of dividend per share (in Dollars per share) $ 0.125
Dividend issuance ordinary price per share (in Dollars per share) $ 0.111111
Founder shares descriptionThe Founder Shares are identical to the Class A Shares included in the Units being sold in the Initial Public Offering, except that the Founder Shares (i) have the voting rights described above, (ii) are subject to certain transfer restrictions described below and (iii) are convertible into Class A Shares on a one-for-one basis, subject to adjustment pursuant to the anti-dilution provisions contained therein. The Founder Shares may not be transferred, assigned or sold until the earlier of (i) one year after the completion of the Business Combination and (ii) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction after the Business Combination that results in all of the Public Shareholders having the right to exchange their Class A Shares for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of the Class A Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Business Combination, the Founder Shares will be released from the lock-up
Warrants expiration years5 years
Redemption trigger price per share (in Dollars per share) $ 18
Business Combination effective issue price per share (in Dollars per share) $ 9.20
Total equity proceeds percentage60.00%
Business combination market value per share (in Dollars per share) $ 9.20
Market value and the newly issued price180.00%
Over-allotment option [Member]
Shareholders' Equity (Details) [Line Items]
Aggregate purchase price of founder shares937,500
Warrants [Member]
Shareholders' Equity (Details) [Line Items]
Market value and the newly issued price115.00%
Class A Ordinary Shares [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized200,000,000 200,000,000
Common stock, par value (in Dollars per share) $ 0.0001 $ 0.0001
Ordinary shares, issued shares8,346,318 5,279,045
Common stock, share outstanding8,346,318 5,279,045
Ordinary shares subject to possible redemption20,403,682 23,470,955
Public warrant per share (in Dollars per share) $ 0.01
Ordinary shares equals or exceeds (in Dollars per share)18
Redemption of public warrant holders equals or exceeds per share (in Dollars per share) $ 18
Class B Ordinary Shares [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized20,000,000 20,000,000
Common stock, par value (in Dollars per share) $ 0.0001 $ 0.0001
Ordinary shares, issued shares7,187,500 7,187,500
Common stock, share outstanding7,187,500 7,187,500
Aggregate purchase price of founder shares7,187,500 5,750,000
Purchase price (in Dollars) $ 25,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Fair Value Measurements (Details) [Line Items]
Fair value of the public warrants $ 32,775,000 $ 17,681,250
Closing price of warrants $ 2.28 $ 1.23
Public warrants descriptionThe fair value of the Units, which each consist of one Class A ordinary shares and one-half of one Public Warrant, represents the closing price on the measurement date as observed from the ticker ALUS.U.
IPO [Member]
Fair Value Measurements (Details) [Line Items]
Warrants descriptionThe expected term was determined to be 5.2 and 5.5 years as of March 31, 2021 and December 31, 2020, respectively, as the Private Placement Warrants become exercisable on the later of (i) 30 days after the completion of the Business Combination and (ii) 12 months from the IPO date or November 29, 2020. An increase in the expected term, in isolation, would result in an increase in the fair value measurement of the warrant liabilities and vice versa.

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of fair value on a recurring basis - USD ($)3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Assets:
Marketable securities held in Trust Account $ 289,838,722 $ 289,834,441
Total fair value289,838,722 289,834,441
Liabilities:
Public Warrants32,775,000 17,681,250
Private Placement Warrants28,175,000 17,675,000
Total fair value60,950,000 35,356,250
Fair Value, Inputs, Level 1 [Member]
Assets:
Marketable securities held in Trust Account289,838,722 289,834,441
Total fair value289,838,722 289,834,441
Liabilities:
Public Warrants32,775,000 17,681,250
Private Placement Warrants
Total fair value32,775,000 17,681,250
Fair Value, Inputs, Level 2 [Member]
Assets:
Marketable securities held in Trust Account
Total fair value
Liabilities:
Public Warrants
Private Placement Warrants
Total fair value
Fair Value, Inputs, Level 3 [Member]
Assets:
Marketable securities held in Trust Account
Total fair value
Liabilities:
Public Warrants
Private Placement Warrants28,175,000 17,675,000
Total fair value $ 28,175,000 $ 17,675,000

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of the Black-Scholes option model for the Private Placement Warrants - $ / shares3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Schedule of the Black-Scholes option model for the Private Placement Warrants [Abstract]
Risk-free interest rate0.96%0.43%
Term (years)5 years 73 days5 years 6 months
Volatility40.03%26.17%
Dividend yield0.00%0.00%
Exercise price (in Dollars per share) $ 11.50 $ 11.50
Share price (in Dollars per share) $ 10 $ 10.06

Fair Value Measurements (Deta_4

Fair Value Measurements (Details) - Schedule of changes in the Level 3 Private Placement Warrants measured at fair value - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Public Warrants [Member]
Fair Value Measurements (Details) - Schedule of changes in the Level 3 Private Placement Warrants measured at fair value [Line Items]
Beginning balance $ 17,681,250 $ 18,975,000
Change in fair value of warrant liabilities15,093,750 (8,193,750)
Ending Balance32,775,000 10,781,250
Private Placement [Member]
Fair Value Measurements (Details) - Schedule of changes in the Level 3 Private Placement Warrants measured at fair value [Line Items]
Beginning balance17,675,000 11,987,500
Change in fair value of warrant liabilities10,500,000 525,000
Ending Balance28,175,000 12,512,500
Warrant Liabilities [Member]
Fair Value Measurements (Details) - Schedule of changes in the Level 3 Private Placement Warrants measured at fair value [Line Items]
Beginning balance35,356,250 30,962,500
Change in fair value of warrant liabilities25,593,750 (7,668,750)
Ending Balance $ 60,950,000 $ 23,293,750