Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 30, 2021 | Jun. 30, 2020 | |
Entity Listings [Line Items] | |||
Entity Registrant Name | SportsTek Acquisition Corp. | ||
Entity Central Index Key | 0001836259 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Address, State or Province | OK | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | true | ||
Entity Public Float | $ 0 | ||
Class A Common Stock [Member] | |||
Entity Listings [Line Items] | |||
Entity Common Stock, Shares Outstanding | 17,250,000 | ||
Class B Common Stock [Member] | |||
Entity Listings [Line Items] | |||
Entity Common Stock, Shares Outstanding | 4,312,500 |
BALANCE SHEET
BALANCE SHEET | Dec. 31, 2020USD ($) | |
Assets: | ||
Current asset - cash | $ 153,938 | |
Deferred offering costs | 408,725 | |
Total Assets | 562,663 | |
Current Liabilities: | ||
Accrued offering costs and expenses | 362,230 | |
Promissory note - related party | 176,000 | |
Total current liabilities | 538,230 | |
Commitments and Contingencies | ||
Stockholders' Equity: | ||
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | 0 | |
Additional paid-in capital | 24,569 | |
Accumulated deficit | (567) | |
Total stockholders' equity | 24,433 | |
Total Liabilities and Stockholders' Equity | 562,663 | |
Class A Common Stock [Member] | ||
Stockholders' Equity: | ||
Common stock | 0 | |
Class B Common Stock [Member] | ||
Stockholders' Equity: | ||
Common stock | $ 431 | [1] |
[1] | Includes up to 562,500 shares of Class B common stock subject to forfeiture if the option to purchase additional units was not exercised in full or in part by the underwriter (See Note 7). On February 16, 2021, the Company effected a stock dividend of 718,750 shares with respect to the Class B common stock, resulting in the initial stockholders holding an aggregate of 4,312,500 Class B shares outstanding (see Note 7). As a result of the underwriter's election to fully exercise their over-allotment option on February 19, 2021, the 562,500 Founder Shares are no longer subject to forfeiture (see Note 8). |
BALANCE SHEET (Parenthetical)
BALANCE SHEET (Parenthetical) - $ / shares | Feb. 16, 2021 | Feb. 19, 2021 | Dec. 31, 2020 |
Stockholders' Equity: | |||
Preferred stock, par value (in dollars per share) | $ 0.0001 | ||
Preferred stock, shares authorized (in shares) | 1,000,000 | ||
Preferred stock, shares issued (in shares) | 0 | ||
Preferred stock, shares outstanding (in shares) | 0 | ||
Class A Common Stock [Member] | |||
Stockholders' Equity: | |||
Common stock, par value (in dollars per share) | $ 0.0001 | ||
Common stock, shares authorized (in shares) | 200,000,000 | ||
Common stock, shares issued (in shares) | 0 | ||
Common stock, shares outstanding (in shares) | 0 | ||
Class B Common Stock [Member] | |||
Stockholders' Equity: | |||
Common stock, par value (in dollars per share) | $ 0.0001 | ||
Common stock, shares authorized (in shares) | 20,000,000 | ||
Common stock, shares issued (in shares) | 4,312,500 | ||
Common stock, shares outstanding (in shares) | 4,312,500 | ||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Class B Common Stock [Member] | Maximum [Member] | |||
Stockholders' Equity: | |||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Class B Common Stock [Member] | Subsequent Event [Member] | |||
Stockholders' Equity: | |||
Common stock, shares issued (in shares) | 3,593,750 | ||
Common stock, shares outstanding (in shares) | 3,593,750 | ||
Stock dividend (in shares) | 718,750 | ||
Class B Common Stock [Member] | Subsequent Event [Member] | Founder Shares [Member] | |||
Stockholders' Equity: | |||
Common stock, shares outstanding (in shares) | 562,500 | ||
Stock dividend (in shares) | 718,750 | ||
Class B Common Stock [Member] | Subsequent Event [Member] | Founder Shares [Member] | Maximum [Member] | |||
Stockholders' Equity: | |||
Common stock, subject to forfeiture (in shares) | 562,500 |
STATEMENT OF OPERATIONS
STATEMENT OF OPERATIONS | 1 Months Ended | |
Dec. 31, 2020USD ($)$ / sharesshares | ||
Formation and operating costs | $ 567 | |
Net Loss | $ (567) | |
Class B Common Stock [Member] | ||
Basic and diluted weighted average shares outstanding (in shares) | shares | 3,750,000 | [1] |
Basic and diluted net loss per share (in dollars per share) | $ / shares | $ 0 | |
[1] | Excludes up to 562,500 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 7). On February 16, 2021, the Company effected a stock dividend of 718,750 shares with respect to the Class B common stock, resulting in the initial stockholders holding an aggregate of 4,312,500 Class B shares outstanding (see Note 7). As a result of the underwriter's election to fully exercise their over-allotment option on February 19, 2021, the 562,500 Founder Shares are no longer subject to forfeiture (see Note 8). |
STATEMENT OF OPERATIONS (Parent
STATEMENT OF OPERATIONS (Parenthetical) - Class B Common Stock [Member] - shares | Feb. 16, 2021 | Feb. 19, 2021 | Dec. 31, 2020 |
Earnings Per Share, Basic and Diluted [Abstract] | |||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Common stock, shares outstanding (in shares) | 4,312,500 | ||
Maximum [Member] | |||
Earnings Per Share, Basic and Diluted [Abstract] | |||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Subsequent Event [Member] | |||
Earnings Per Share, Basic and Diluted [Abstract] | |||
Stock dividend (in shares) | 718,750 | ||
Common stock, shares outstanding (in shares) | 3,593,750 | ||
Subsequent Event [Member] | Founder Shares [Member] | |||
Earnings Per Share, Basic and Diluted [Abstract] | |||
Stock dividend (in shares) | 718,750 | ||
Common stock, shares outstanding (in shares) | 562,500 | ||
Subsequent Event [Member] | Maximum [Member] | Founder Shares [Member] | |||
Earnings Per Share, Basic and Diluted [Abstract] | |||
Common stock, subject to forfeiture (in shares) | 562,500 |
STATEMENT OF CHANGES IN STOCKHO
STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY - 1 months ended Dec. 31, 2020 - USD ($) | Common Stock [Member]Class B Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total | |
Beginning balance at Dec. 06, 2020 | $ 0 | $ 0 | $ 0 | $ 0 | |
Beginning balance (in shares) at Dec. 06, 2020 | [1] | 0 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Class B common stock issued to Sponsor | $ 431 | 24,569 | 0 | 25,000 | |
Class B common stock issued to Sponsor (in shares) | [1] | 4,312,500 | |||
Net loss | $ 0 | 0 | (567) | (567) | |
Ending balance at Dec. 31, 2020 | $ 431 | $ 24,569 | $ (567) | $ 24,433 | |
Ending balance (in shares) at Dec. 31, 2020 | [1] | 4,312,500 | |||
[1] | Includes up to 562,500 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 7). On February 16, 2021, the Company effected a stock dividend of 718,750 shares with respect to the Class B common stock, resulting in the initial stockholders holding an aggregate of 4,312,500 Class B shares outstanding (see Note 7). As a result of the underwriter's election to fully exercise their over-allotment option on February 19, 2021, the 562,500 Founder Shares are no longer subject to forfeiture (see Note 8). |
STATEMENT OF CHANGES IN STOCK_2
STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical) - Class B Common Stock [Member] - shares | Feb. 16, 2021 | Feb. 19, 2021 | Dec. 31, 2020 |
Stockholders' Equity: | |||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Common stock, shares outstanding (in shares) | 4,312,500 | ||
Subsequent Event [Member] | |||
Stockholders' Equity: | |||
Stock dividend (in shares) | 718,750 | ||
Common stock, shares outstanding (in shares) | 3,593,750 | ||
Subsequent Event [Member] | Founder Shares [Member] | |||
Stockholders' Equity: | |||
Stock dividend (in shares) | 718,750 | ||
Common stock, shares outstanding (in shares) | 562,500 | ||
Maximum [Member] | |||
Stockholders' Equity: | |||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Maximum [Member] | Subsequent Event [Member] | Founder Shares [Member] | |||
Stockholders' Equity: | |||
Common stock, subject to forfeiture (in shares) | 562,500 |
STATEMENT OF CASH FLOWS
STATEMENT OF CASH FLOWS | 1 Months Ended |
Dec. 31, 2020USD ($) | |
Cash flows from operating activities: | |
Net loss | $ (567) |
Adjustments to reconcile net loss to net cash used in operating activities: | |
Formation costs paid by related parties | 567 |
Net cash used in operating activities | 0 |
Cash Flows from Financing Activities: | |
Proceeds from issuance of promissory note to related party | 176,000 |
Payment of deferred offering costs | (22,062) |
Net cash provided by financing activities | 153,938 |
Net change in cash | 0 |
Cash, beginning of period | 0 |
Cash, end of the period | 153,938 |
Supplemental disclosure of cash flow information: | |
Deferred offering costs paid by Sponsor in exchange for issuance of Class B common stock | 24,433 |
Deferred offering costs included in accrued offering costs and expenses | $ 362,230 |
Organization and Business Opera
Organization and Business Operations | 12 Months Ended |
Dec. 31, 2020 | |
Organization and Business Operations [Abstract] | |
Organization and Business Operations | Note 1 — Organization and Business Operations SportsTek Acquisition Corp. (the “Company”) is a newly organized blank check company incorporated as a Delaware corporation on December 7, 2020. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). The Company has not identified any potential business combination target and it has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any potential business combination target with respect to the 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. As of December 31, 2020, the Company had not commenced any operations. All activity for the period from December 7, 2020 (inception) through December 31, 2020 relates to the Company’s formation and preparation for the Initial Public Offering (“IPO”) as described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the IPO as described below. The Company’s sponsor is JTJT Partners LLC, a Delaware limited liability company (the “Sponsor”). Subsequent to December 31, 2020, the registration statement for the Company’s IPO was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 16, 2021 (the “Effective Date”). On February 19, 2021, the Company consummated the IPO of 17,250,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units, the “Public Shares” and the warrants included in the Units, the “Public Warrants”), which included the full exercise by the underwriters of the over-allotment option to purchase an additional 2,250,000 Units, at $10.00 per Unit, generating gross proceeds of $172,500,000, which is discussed in Note 3. Simultaneously with the closing of the IPO, the Company consummated the sale of 5,950,000 warrants (the “Private Warrants”), at a price of $1.00 per Private Warrant, which is discussed in Note 4. Each warrant entitles the holder to purchase one share of common stock at a price of $11.50 per share, generating gross proceeds of $5,950,000, which is described in Note 4. Transaction costs of the IPO amounted to $10,284,211 consisting of $3,450,000 of underwriting discount, $6,037,500 of deferred underwriting discount, and $796,711 of other offering costs (see Note 8). Following the closing of the IPO on February 19, 2021, $172,500,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the IPO, including the proceeds from the sale of the Private Placement Warrants, was deposited in a trust account (“Trust Account”) located in the United States and will be invested only in U.S. government treasury bills with a maturity of 185 days or less or in money market funds investing solely in U.S. Treasuries, as determined by the Company, until the earlier of: (i) the completion of a Business Combination; (ii) the redemption of any Public Shares in connection with a stockholder vote to approve an amendment to the Company’s Certificate of Incorporation (a) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with a Business Combination or to redeem 100% of the Public Shares if the Company has not consummated a Business Combination within 24 months from the closing of the IPO or (b) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity; and (iii) the redemption of any Public Shares if the Company has not consummated a Business Combination within 24 months from the closing of the IPO, subject to applicable law The Company will provide the holders of the outstanding Public Shares (the “Public Stockholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company. The Public Stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.00 per Public Share). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The shares of common stock subject to redemption was recorded at a redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the issued and outstanding shares voted of common stock are voted in favor of the Business Combination The Company will have only 24 months from February 19, 2021, the closing of the IPO, to complete an initial Business Combination (the “Combination Period”). However, if the Company doesn’t complete a Business Combination within the Combination Period, the Company will redeem 100% of the outstanding Public Shares for a pro rata portion of the funds held in the Trust Account, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding Public Shares, subject to applicable law and as further described in registration statement, and then seek to dissolve and liquidate The Company’s Sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to waive (i) their redemption rights with respect to any Founder Shares and any Public Shares held by them in connection with the completion of a Business Combination and (ii) their redemption rights with respect to any Founder Shares and Public Shares held by them in connection with a stockholder vote to approve an amendment to the Company’s Certificate of Incorporation (a) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with a Business Combination or to redeem 100% of the Public Shares if the Company has not consummated a Business Combination within 24 months from the closing of the IPO or (b) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity. In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party other than our independent public registered accounting firm for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.00 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriter of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for the Company’s independent registered accounting firm), prospective target businesses and other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. However, the Company has not asked its Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether its Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes that the Company’s Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that its Sponsor would be able to satisfy those obligations. Liquidity and Capital Resources As of December 31, 2020, the Company had $153,938 in cash and working capital deficit of $384,292 (excluding deferred offering costs). The Company’s liquidity needs up to December 31, 2020 had been satisfied through a capital contribution from the Sponsor of $25,000 (see Note 5) for the founder shares and the loan under an unsecured promissory note from the Sponsor of $176,000 (see Note 5). Subsequent to December 31, 2020, on February 19, 2021, the Company consummated the IPO of 17,250,000 Units generating gross proceeds of $172,500,000 (see Note 8). As of February 19, 2021, the Company had approximately $1.9 million in its operating bank account, and working capital of approximately $1.7 million In addition, in order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined and described in Note 5). To date, there were no amounts outstanding under any Working Capital Loans Based on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of a Business Combination or one year from this filing. Risks and Uncertainties Management is continuing to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that it 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 financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 2 — Significant Accounting Policies Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the SEC. Emerging Growth Company Status 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 stockholder 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 statements 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 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 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, actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2020. Deferred Offering Costs Deferred offering costs consist of legal, accounting and other expenses incurred through the balance sheet date that are directly related to the IPO and that were charged to stockholders’ equity upon the completion of the IPO. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Net Loss Per Common Stock Net loss per common share is computed by dividing net loss by the weighted average number of shares of Class B common stock outstanding during the period, excluding common stock subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 562,500 shares of common stock that were subject to forfeiture if the over-allotment option was not exercised by the underwriters (see Note 5). As a result of the underwriter’s election to partially exercise their over-allotment option on February 19, 2021, the 562,500 Founder Shares are no longer subject to forfeiture (see Note 8). 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. The deferred tax assets were deemed to be immaterial as of December 31, 2020. 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. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. 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 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 has identified the United States as its only “major” tax jurisdiction. The Company is subject to income tax examinations by major taxing authorities since inception. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with federal and state tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The provision for income taxes was deemed to be immaterial for the period from December 7, 2020 (inception) through December 31, 2020. Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements. |
Initial Public Offering
Initial Public Offering | 12 Months Ended |
Dec. 31, 2020 | |
Initial Public Offering [Abstract] | |
Initial Public Offering | Note 3 — Initial Public Offering On February 19, 2021, the Company sold 17,250,000 at a purchase price of $10.00 per Unit, which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 2,250,000 Units (see Note 8). Each Unit consists of one share of Class A common stock, and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The warrants will become exercisable on the later of 30 days after the completion of the initial Business Combination or 12 months from the closing of the IPO and will expire five years after the completion of the initial Business Combination, or earlier upon redemption or liquidation (see Note 7). |
Private Placement
Private Placement | 12 Months Ended |
Dec. 31, 2020 | |
Private Placement [Abstract] | |
Private Placement | Note 4 — Private Placement Simultaneously with the closing of the IPO, the Sponsor and certain of the Company’s directors and advisors purchased an aggregate of 5,950,000 Private Warrants at a price of $1.00 per Private Warrant, for an aggregate purchase price of $5,950,000, in a private placement. A portion of the proceeds from the private placement was added to the proceeds from the IPO held in the Trust Account (see Note 8). The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the IPO, except that the Private Placement Warrants and the shares of Class A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or saleable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable, except as described above, so long as they are held by the Sponsor or its permitted transferees. If the Private Placement Warrants are held by someone other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 5 — Related Party Transactions Founder Shares On December 11, 2020, the Sponsor paid $25,000 to cover certain offering costs of the Company in consideration for 3,593,750 shares of Class B common stock (the “Founder Shares”). On February 16, 2021 the Company effected a stock dividend of 718,750 shares with respect to the Class B common stock, resulting in the initial stockholders holding an aggregate of 4,312,500 Founder Shares (See Note 8). The accompanying financial statements have been retroactively adjusted to reflect the stock dividend in the share capitalization. The Founder Shares include an aggregate of up to 562,500 shares subject to forfeiture if the option to purchase additional units is not exercised by the underwriter in full. On February 19, 2021, the underwriter fully exercised its over-allotment option, hence, the 562,500 Founder Shares are no longer subject to forfeiture (see Note 8). The Sponsor has agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of: (i) one year after the completion of a Business Combination and (ii) subsequent to a Business Combination, (x) if the last reported sale price of the Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Public Stockholders having the right to exchange their shares of common stock for cash, securities or other property. Promissory Note — Related Party On December 18, 2020, Company issued an unsecured promissory note to the Sponsor for an aggregate of up to $300,000 to cover expenses related to the IPO. This loan is non-interest bearing and payable on the earlier of April 30, 2021 or the completion of the IPO. As of December 31, 2020, the Company has drawn down $176,000 under the promissory note. On February 22, 2021, the Company paid the balance on the note (see Note 8). Related Party Loans In order to finance transaction costs in connection with a Business Combination, 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 (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $2,000,000 of the notes may be converted upon completion of a Business Combination into warrants at a price of $1.00 per warrant. Such warrants would be identical to the Private Placement Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of December 31, 2020, there were no amounts outstanding under the Working Capital Loans. Administrative Service Fee Commencing on the date of the IPO, the Company will reimburse its Sponsor for office space, administrative and support services provided to members of the Company’s management team in an amount not to exceed $2,000 per month. Upon completion of the Company’s Business Combination or its liquidation, the Company will cease paying these monthly fees. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note 6 — Commitments and Contingencies Registration Rights The holders of the Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans (and any shares of common stock issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of the Working Capital Loans and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights agreement dated February 16, 2021, requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to shares of Class A common stock). The holders of these securities will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not be required to effect or permit any registration or cause any registration statement to become effective until the securities covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The underwriter had a 45-day option from the date of the IPO on February 19, 2021 to purchase up to an aggregate of 2,250,000 additional Units at the public offering price less the underwriting commissions to cover over-allotments, if any. On February 19, 2021, the underwriter fully exercised its over-allotment option (see Note 8). The underwriter was entitled to a cash underwriting fee of $0.20 per Unit payable upon the closing of the IPO. When the IPO closed on February 19, 2021, the underwriter was paid an aggregate of $3,450,000, or $0.20 per Unit. The underwriters will be entitled to deferred underwriting fee of 3.5% of the gross proceeds of the IPO held in the Trust Account, or $6,037,500, upon the completion of the Company’s initial Business Combination subject to the terms of the underwriting agreement. |
Stockholder's Equity
Stockholder's Equity | 12 Months Ended |
Dec. 31, 2020 | |
Stockholder's Equity [Abstract] | |
Stockholder's Equity | Note 7 — Stockholder’s Equity Preferred Stock Class A Common Stock Class B Common Stock Only holders of the Class B common stock will have the right to vote on the election of directors prior to the Business Combination. Holders of Class A common stock and holders of Class B common stock will vote together as a single class on all matters submitted to a vote of our stockholders except as otherwise required by law. The shares of Class B common stock will automatically convert into Class A common stock at the time of a Business Combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment. In the case that additional shares of Class A common stock, or equity-linked securities, are issued or deemed issued in excess of the amounts issued in the IPO and related to the closing of a Business Combination, the ratio at which shares of Class B common stock shall convert into shares of Class A common stock will be adjusted (unless the holders of a majority of the then-outstanding shares of Class B common stock agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of shares of Class A common stock issuable upon conversion of all shares of Class B common stock will equal, in the aggregate, on an as-converted basis, 20% of the total number of all shares of common stock outstanding upon the completion of the IPO plus all shares of Class A common stock and equity-linked securities issued or deemed issued in connection with a Business Combination (net of the number of shares of Class A common stock redeemed in connection with a Business Combination), excluding any shares or equity-linked securities issued or issuable to any seller in a Business Combination. Warrants The Company will not be obligated to deliver any shares of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act covering the issuance of the shares of Class A common stock issuable upon exercise of the warrants is then effective and a current prospectus relating to those shares of Class A common stock is available, subject to the Company satisfying its obligations with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of residence of the exercising holder, or an exemption from registration is available. The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of a Business Combination, the Company will use its commercially reasonable efforts to file, and within 60 business days following a Business Combination to have declared effective, a registration statement covering the issuance of the shares of Class A common stock issuable upon exercise of the warrants and to maintain a current prospectus relating to those shares of Class A common stock until the warrants expire or are redeemed. Notwithstanding the above, if the Class A common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. Redemption of Warrants When the Price per Share of Class A Common Stock Equals or Exceeds $18.00 • in whole and not in part; • at a price of $0.01 per warrant; • upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each warrant holder; and • if, and only if, the last reported sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior the date on which the Company sends the notice of redemption to the warrant holders. If and when the warrants become redeemable by the Company, the Company may exercise the redemption right even if it is unable to register or qualify the underlying securities or sale under all applicable state securities laws. Redemption of Warrants When the Price per Share of Class A Common Stock Equals or Exceeds $10.00 • in whole and not in part; • at a price of $0.10 per warrant provided that the holder will be able to exercise their warrants on cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the Class A common stock • upon a minimum of 30 days’ prior written notice of redemption; • if, and only if, the last reported sale price of the Class A common stock equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, 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 the Company sends the notice of redemption to the warrant holders; and • if the last reported sale price of the Class A common stock 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 warrant holders is less than $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like), the Private Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above If the Company calls the Public Warrants for redemption, as described above, its management will have the option to require any holder that wishes to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. In addition, if (x) the Company issues additional shares of Class A common stock 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 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, as applicable, 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 (net of redemptions), and (z) the volume weighted average trading price of the Company’s common stock 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 described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger described above will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the IPO, except that the Private Placement Warrants and the shares of Class A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or saleable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable, except as described above, so long as they are held by the sponsor or its permitted transferees. If the Private Placement Warrants are held by someone other than the sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 8 — Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to March 31, 2021 the date that the financial statements were issued. Based upon this review, other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements. On February 19, 2021, the Company In February 2021, the Company paid the Sponsor promissory note balance of $176,000 in full. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Significant Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the SEC. |
Use of Estimates | Use of Estimates The preparation of 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 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, actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2020. |
Deferred Offering Costs | Deferred Offering Costs Deferred offering costs consist of legal, accounting and other expenses incurred through the balance sheet date that are directly related to the IPO and that were charged to stockholders’ equity upon the completion of the IPO. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. |
Net Loss Per Common Stock | Net Loss Per Common Stock Net loss per common share is computed by dividing net loss by the weighted average number of shares of Class B common stock outstanding during the period, excluding common stock subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 562,500 shares of common stock that were subject to forfeiture if the over-allotment option was not exercised by the underwriters (see Note 5). As a result of the underwriter’s election to partially exercise their over-allotment option on February 19, 2021, the 562,500 Founder Shares are no longer subject to forfeiture (see Note 8). |
Income Taxes | 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. The deferred tax assets were deemed to be immaterial as of December 31, 2020. 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. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. 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 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 has identified the United States as its only “major” tax jurisdiction. The Company is subject to income tax examinations by major taxing authorities since inception. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with federal and state tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The provision for income taxes was deemed to be immaterial for the period from December 7, 2020 (inception) through December 31, 2020. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements. |
Organization and Business Ope_2
Organization and Business Operations (Details) - USD ($) | Feb. 19, 2021 | Dec. 31, 2020 |
Proceeds from Issuance of Equity [Abstract] | ||
Transaction costs | $ 408,725 | |
Private Warrants [Member] | Subsequent Event [Member] | ||
Proceeds from Issuance of Equity [Abstract] | ||
Share Price (in dollars per share) | $ 1 | |
Warrants issued (in shares) | 5,950,000 | |
Number of securities called by each warrant (in shares) | 1 | |
Warrants exercise price (in dollars per share) | $ 11.50 | |
Gross proceeds from issuance of warrants | $ 5,950,000 | |
Initial Public Offering [Member] | Subsequent Event [Member] | ||
Proceeds from Issuance of Equity [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Share Price (in dollars per share) | $ 10 | |
Gross proceeds from initial public offering | $ 172,500,000 | |
Warrants exercise price (in dollars per share) | $ 11.50 | |
Transaction costs | $ 10,284,211 | |
Underwriting discount | 3,450,000 | |
Deferred underwriting discount | 6,037,500 | |
Other offering costs | 796,711 | |
Net proceeds deposited into trust account | $ 172,500,000 | |
Net proceeds from Initial Public Offering and Private Placement (in dollars per share) | $ 10 | |
Initial Public Offering [Member] | Public Shares [Member] | Subsequent Event [Member] | ||
Proceeds from Issuance of Equity [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Share Price (in dollars per share) | $ 10 | |
Gross proceeds from initial public offering | $ 172,500,000 | |
Redemption price (in dollars per share) | $ 10 | |
Over-Allotment Option [Member] | Subsequent Event [Member] | ||
Proceeds from Issuance of Equity [Abstract] | ||
Units issued (in shares) | 2,250,000 | |
Share Price (in dollars per share) | $ 10 | |
Over-Allotment Option [Member] | Public Shares [Member] | Subsequent Event [Member] | ||
Proceeds from Issuance of Equity [Abstract] | ||
Units issued (in shares) | 2,250,000 |
Organization and Business Ope_3
Organization and Business Operations, Liquidity and Capital Resources (Details) - USD ($) | Feb. 19, 2021 | Dec. 31, 2020 |
Liquidity and Capital Resources [Abstract] | ||
Cash | $ 153,938 | |
Working capital deficit | (384,292) | |
Proceeds from promissory note | 176,000 | |
Subsequent Event [Member] | ||
Liquidity and Capital Resources [Abstract] | ||
Cash | $ 1,900,000 | |
Working capital | $ 1,700,000 | |
Founder Shares [Member] | Promissory Note [Member] | ||
Liquidity and Capital Resources [Abstract] | ||
Proceeds from promissory note | 176,000 | |
Sponsor [Member] | Founder Shares [Member] | ||
Liquidity and Capital Resources [Abstract] | ||
Capital contribution from the Sponsor | 25,000 | |
Sponsor or an Affiliate of the Sponsor, or Certain of the Company's Officers and Directors [Member] | Working Capital Loans [Member] | ||
Liquidity and Capital Resources [Abstract] | ||
Promissory note, outstanding | $ 0 | |
Initial Public Offering [Member] | Subsequent Event [Member] | ||
Liquidity and Capital Resources [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Gross proceeds from initial public offering | $ 172,500,000 |
Significant Accounting Polici_3
Significant Accounting Policies (Details) - USD ($) | 1 Months Ended | |
Dec. 31, 2020 | Feb. 19, 2021 | |
Cash and Cash Equivalents [Abstract] | ||
Cash equivalents | $ 0 | |
Net Loss Per Common Stock [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | |
Income Taxes [Abstract] | ||
Unrecognized tax benefits | $ 0 | |
Accrued interest and penalties | $ 0 | |
Class B Common Stock [Member] | ||
Net Loss Per Common Stock [Abstract] | ||
Common stock, subject to forfeiture (in shares) | 562,500 | |
Class B Common Stock [Member] | Founder Shares [Member] | Subsequent Event [Member] | ||
Net Loss Per Common Stock [Abstract] | ||
Common stock no longer subject to forfeiture (in shares) | 562,500 |
Initial Public Offering (Detail
Initial Public Offering (Details) - $ / shares | Feb. 19, 2021 | Dec. 31, 2020 |
Initial Public Offering [Abstract] | ||
Warrants expiration period | 5 years | |
Class A Common Stock [Member] | ||
Initial Public Offering [Abstract] | ||
Number of securities called by each warrant (in shares) | 1 | |
Warrants exercise price (in dollars per share) | $ 11.50 | |
Initial Public Offering [Member] | Subsequent Event [Member] | ||
Initial Public Offering [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Unit price (in dollars per share) | $ 10 | |
Warrants exercise price (in dollars per share) | $ 11.50 | |
Period for warrants to become exercisable | 30 days | |
Warrants expiration period | 5 years | |
Initial Public Offering [Member] | Public Shares [Member] | Subsequent Event [Member] | ||
Initial Public Offering [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Unit price (in dollars per share) | $ 10 | |
Initial Public Offering [Member] | Public Warrant [Member] | Subsequent Event [Member] | ||
Initial Public Offering [Abstract] | ||
Number of securities called by each unit (in shares) | 0.5 | |
Initial Public Offering [Member] | Class A Common Stock [Member] | Subsequent Event [Member] | ||
Initial Public Offering [Abstract] | ||
Number of securities called by each unit (in shares) | 1 | |
Number of securities called by each warrant (in shares) | 1 | |
Over-Allotment Option [Member] | Subsequent Event [Member] | ||
Initial Public Offering [Abstract] | ||
Units issued (in shares) | 2,250,000 | |
Unit price (in dollars per share) | $ 10 | |
Over-Allotment Option [Member] | Public Shares [Member] | Subsequent Event [Member] | ||
Initial Public Offering [Abstract] | ||
Units issued (in shares) | 2,250,000 |
Private Placement (Details)
Private Placement (Details) - Private Warrant [Member] - Subsequent Event [Member] | Feb. 19, 2021$ / sharesshares |
Private Placement Warrants [Abstract] | |
Warrants issued (in shares) | shares | 5,950,000 |
Share Price (in dollars per share) | $ / shares | $ 1 |
Period before warrants will be transferable, assignable or saleable | 30 days |
Sponsor and Certain of the Company's Directors and Advisors [Member] | |
Private Placement Warrants [Abstract] | |
Warrants issued (in shares) | shares | 5,950,000 |
Share Price (in dollars per share) | $ / shares | $ 1 |
Related Party Transactions, Fou
Related Party Transactions, Founder Shares (Details) - USD ($) | Feb. 16, 2021 | Dec. 11, 2020 | Dec. 31, 2020 | Feb. 19, 2021 |
Class B Common Stock [Member] | ||||
Founder Shares [Abstract] | ||||
Common stock, subject to forfeiture (in shares) | 562,500 | |||
Class B Common Stock [Member] | Subsequent Event [Member] | ||||
Founder Shares [Abstract] | ||||
Shares issued (in shares) | 3,593,750 | |||
Stock dividend (in shares) | 718,750 | |||
Class B Common Stock [Member] | Maximum [Member] | ||||
Founder Shares [Abstract] | ||||
Common stock, subject to forfeiture (in shares) | 562,500 | |||
Founder Shares [Member] | Class B Common Stock [Member] | Subsequent Event [Member] | ||||
Founder Shares [Abstract] | ||||
Shares issued (in shares) | 4,312,500 | |||
Stock dividend (in shares) | 718,750 | |||
Common stock no longer subject to forfeiture (in shares) | 562,500 | |||
Founder Shares [Member] | Class B Common Stock [Member] | Maximum [Member] | Subsequent Event [Member] | ||||
Founder Shares [Abstract] | ||||
Common stock, subject to forfeiture (in shares) | 562,500 | |||
Founder Shares [Member] | Sponsor [Member] | ||||
Founder Shares [Abstract] | ||||
Proceeds from issuance of stock | $ 25,000 | |||
Founder Shares [Member] | Sponsor [Member] | Class A Common Stock [Member] | ||||
Founder Shares [Abstract] | ||||
Period before warrants will be transferable, assignable or saleable | 1 day | |||
Number of trading days | 20 days | |||
Trading day threshold period | 30 days | |||
Founder Shares [Member] | Sponsor [Member] | Class A Common Stock [Member] | Minimum [Member] | ||||
Founder Shares [Abstract] | ||||
Share price (in dollars per share) | $ 12 | |||
Threshold period after initial Business Combination | 150 days | |||
Founder Shares [Member] | Sponsor [Member] | Class B Common Stock [Member] | ||||
Founder Shares [Abstract] | ||||
Proceeds from issuance of stock | $ 25,000 | |||
Shares issued (in shares) | 3,593,750 |
Related Party Transactions, Pro
Related Party Transactions, Promissory Note and Related Party Loans, Administrative Service Fee (Details) - USD ($) | Dec. 18, 2020 | Dec. 31, 2020 | Feb. 19, 2021 |
Related Party Transactions [Abstract] | |||
Amount drawn | $ 176,000 | ||
Related Party Loans [Abstract] | |||
Related party note, amount outstanding | 176,000 | ||
Initial Public Offering [Member] | Subsequent Event [Member] | |||
Related Party Loans [Abstract] | |||
Warrant price (in dollars per share) | $ 10 | ||
Sponsor [Member] | |||
Administrative Service Fee [Abstract] | |||
Fee for office space, administrative and support services | 2,000 | ||
Sponsor [Member] | Promissory Note [Member] | |||
Related Party Transactions [Abstract] | |||
Amount drawn | 176,000 | ||
Sponsor [Member] | Promissory Note [Member] | Initial Public Offering [Member] | |||
Related Party Transactions [Abstract] | |||
Related party transaction | $ 300,000 | ||
Sponsor or Certain of the Company's Officers and Directors [Member] | |||
Related Party Loans [Abstract] | |||
Related party note, amount outstanding | 0 | ||
Sponsor or Certain of the Company's Officers and Directors [Member] | Maximum [Member] | |||
Related Party Loans [Abstract] | |||
Working capital loan | $ 2,000,000 | ||
Warrant price (in dollars per share) | $ 1 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | Feb. 19, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)Demand |
Maximum [Member] | ||
Registration Rights [Abstract] | ||
Number of demands eligible security holder can make | Demand | 3 | |
Initial Public Offering [Member] | ||
Underwriting Agreement [Abstract] | ||
Deferred underwriting discount | 3.50% | |
Deferred underwriting fees | $ | $ 6,037,500 | |
Initial Public Offering [Member] | Subsequent Event [Member] | ||
Underwriting Agreement [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Underwriting discount | $ | $ 3,450,000 | |
Underwriter fee (in dollars per share) | $ / shares | $ 0.20 | |
Initial Public Offering [Member] | Public Shares [Member] | Subsequent Event [Member] | ||
Underwriting Agreement [Abstract] | ||
Units issued (in shares) | 17,250,000 | |
Over-Allotment Option [Member] | ||
Underwriting Agreement [Abstract] | ||
Sale of stock underwriter option term | 45 days | |
Over-Allotment Option [Member] | Subsequent Event [Member] | ||
Underwriting Agreement [Abstract] | ||
Units issued (in shares) | 2,250,000 | |
Over-Allotment Option [Member] | Public Shares [Member] | Subsequent Event [Member] | ||
Underwriting Agreement [Abstract] | ||
Units issued (in shares) | 2,250,000 |
Stockholder's Equity, Preferred
Stockholder's Equity, Preferred Shares and Common Stock (Details) | Feb. 16, 2021shares | Dec. 31, 2020shares$ / shares | Feb. 19, 2021shares |
Stockholders' Equity [Abstract] | |||
Preferred stock, shares authorized (in shares) | 1,000,000 | ||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 | ||
Preferred stock, shares issued (in shares) | 0 | ||
Preferred stock, shares outstanding (in shares) | 0 | ||
Stock conversion basis at time of business combination | 1 | ||
Stock conversion percentage threshold | 20.00% | ||
Class A Common Stock [Member] | |||
Stockholders' Equity [Abstract] | |||
Common stock, shares authorized (in shares) | 200,000,000 | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 | ||
Voting right per share | 1 | ||
Common stock, shares issued (in shares) | 0 | ||
Common stock, shares outstanding (in shares) | 0 | ||
Class B Common Stock [Member] | |||
Stockholders' Equity [Abstract] | |||
Common stock, shares authorized (in shares) | 20,000,000 | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 | ||
Common stock, shares issued (in shares) | 4,312,500 | ||
Common stock, shares outstanding (in shares) | 4,312,500 | ||
Common stock, subject to forfeiture (in shares) | 562,500 | ||
Class B Common Stock [Member] | Subsequent Event [Member] | |||
Stockholders' Equity [Abstract] | |||
Common stock, shares issued (in shares) | 3,593,750 | ||
Common stock, shares outstanding (in shares) | 3,593,750 | ||
Stock dividend (in shares) | 718,750 | ||
Shares issued (in shares) | 3,593,750 | ||
Class B Common Stock [Member] | Founder Shares [Member] | Subsequent Event [Member] | |||
Stockholders' Equity [Abstract] | |||
Common stock, shares outstanding (in shares) | 562,500 | ||
Stock dividend (in shares) | 718,750 | ||
Shares issued (in shares) | 4,312,500 | ||
Common stock no longer subject to forfeiture (in shares) | 562,500 |
Stockholder's Equity, Warrants
Stockholder's Equity, Warrants (Details) | 1 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Warrants [Abstract] | |
Period warrants to become exercisable after completion of business combination | 30 days |
Period for warrants to become exercisable from closing of IPO | 12 months |
Warrants expiration period | 5 years |
Number of days to file registration statement | 20 days |
Period for registration statement to become effective | 60 days |
Class A Common Stock [Member] | |
Warrants [Abstract] | |
Number of securities called by each warrant (in shares) | shares | 1 |
Warrants exercise price (in dollars per share) | $ 11.50 |
Class A Common Stock [Member] | Additional Issue of Common Stock or Equity [Member] | |
Warrants [Abstract] | |
Share price (in dollars per share) | $ 9.20 |
Number of trading days | 20 days |
Percentage of exercise price of public warrants is adjusted higher than the market value of newly issued price | 115.00% |
Percentage of redemption triggered price is adjusted higher than the market value of newly issued price | 180.00% |
Class A Common Stock [Member] | Additional Issue of Common Stock or Equity [Member] | Maximum [Member] | |
Warrants [Abstract] | |
Percentage of aggregate gross proceeds of issuance available for funding of business combination | 60.00% |
Redemption of Warrants When Price Exceeds $18.00 [Member] | Class A Common Stock [Member] | |
Warrants [Abstract] | |
Warrant redemption price (in dollars per share) | $ 0.01 |
Notice period to redeem warrants | 30 days |
Number of trading days | 20 days |
Trading day threshold period | 30 days |
Redemption of Warrants When Price Exceeds $18.00 [Member] | Class A Common Stock [Member] | Minimum [Member] | |
Warrants [Abstract] | |
Share price (in dollars per share) | $ 18 |
Redemption of Warrants When Price Exceeds $10.00 [Member] | Class A Common Stock [Member] | |
Warrants [Abstract] | |
Warrant redemption price (in dollars per share) | $ 0.10 |
Notice period to redeem warrants | 30 days |
Number of trading days | 20 days |
Trading day threshold period | 30 days |
Redemption of Warrants When Price Exceeds $10.00 [Member] | Class A Common Stock [Member] | Minimum [Member] | |
Warrants [Abstract] | |
Share price (in dollars per share) | $ 10 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | Feb. 19, 2021 | Feb. 28, 2021 | Dec. 31, 2020 |
Proceeds from Issuance of Equity [Abstract] | |||
Transaction costs | $ 408,725 | ||
Subsequent Event [Member] | |||
Proceeds from Issuance of Equity [Abstract] | |||
Repayment of sponsor promissory note balance | $ 176,000 | ||
Subsequent Event [Member] | Private Warrants [Member] | |||
Proceeds from Issuance of Equity [Abstract] | |||
Share Price (in dollars per share) | $ 1 | ||
Warrants issued (in shares) | 5,950,000 | ||
Gross proceeds from issuance of warrants | $ 5,950,000 | ||
Subsequent Event [Member] | Initial Public Offering [Member] | |||
Proceeds from Issuance of Equity [Abstract] | |||
Units issued (in shares) | 17,250,000 | ||
Share Price (in dollars per share) | $ 10 | ||
Gross proceeds from initial public offering | $ 172,500,000 | ||
Transaction costs | 10,284,211 | ||
Underwriting discount | 3,450,000 | ||
Deferred underwriting discount | 6,037,500 | ||
Other offering costs | $ 796,711 | ||
Subsequent Event [Member] | Over-Allotment Option [Member] | |||
Proceeds from Issuance of Equity [Abstract] | |||
Units issued (in shares) | 2,250,000 | ||
Share Price (in dollars per share) | $ 10 |