| Schedule of error corrections and prior period adjustments |
The following tables reflect the impact of the restatement to the specific line items presented in the Company’s previously reported unaudited condensed consolidated financial statements as of and for the three and nine months ended September 30, 2021.
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Condensed Consolidated Balance Sheet: |
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Contingent earnout liability |
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$ |
77,131 |
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$ |
3,286 |
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$ |
80,417 |
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| |
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$ |
200,274 |
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$ |
3,286 |
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$ |
203,560 |
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Additional paid-in capital |
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$ |
393,872 |
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$ |
20,121 |
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$ |
413,993 |
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| |
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$ |
(290,407 |
) |
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$ |
(23,407 |
) |
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$ |
(313,814 |
) |
Total stockholders’ equity |
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$ |
103,289 |
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$ |
(3,286 |
) |
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$ |
100,003 |
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| Total liabilities and stockholders’ equity |
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Condensed Consolidated Statements of Operations: |
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Three Months Ended September 30, 2021 |
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| Change in fair value of contingent earnout liability (1) |
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$ |
1,265 |
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$ |
(23,407 |
) |
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$ |
(22,142 |
) |
| Total other income (expense), net |
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$ |
(15,060 |
) |
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$ |
(23,407 |
) |
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$ |
(38,467 |
) |
| |
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$ |
(32,432 |
) |
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$ |
(23,407 |
) |
|
$ |
(55,839 |
) |
| |
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$ |
(32,701 |
) |
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$ |
(23,407 |
) |
|
$ |
(56,108 |
) |
Basic and diluted net loss per share |
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$ |
(0.49 |
) |
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$ |
(0.34 |
) |
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$ |
(0.83 |
) |
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Nine Months Ended September 30, 2021 |
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| Change in fair value of contingent earnout liability (1) |
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$ |
1,265 |
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$ |
(23,407 |
) |
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$ |
(22,142 |
) |
| Total other income (expense), net |
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$ |
(34,500 |
) |
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$ |
(23,407 |
) |
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$ |
(57,907 |
) |
| |
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$ |
(78,292 |
) |
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$ |
(23,407 |
) |
|
$ |
(101,699 |
) |
| |
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$ |
(79,261 |
) |
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$ |
(23,407 |
) |
|
$ |
(102,668 |
) |
Basic and diluted net loss per share |
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$ |
(2.12 |
) |
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$ |
(0.63 |
) |
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$ |
(2.75 |
) |
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Condensed Consolidated Statements of Comprehensive Loss: |
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Three Months Ended September 30, 2021 |
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$ |
(32,701 |
) |
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$ |
(23,407 |
) |
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$ |
(56,108 |
) |
| |
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$ |
(32,377 |
) |
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$ |
(23,407 |
) |
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$ |
(55,784 |
) |
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Nine Months Ended September 30, 2021 |
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$ |
(79,261 |
) |
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$ |
(23,407 |
) |
|
$ |
(102,668 |
) |
| |
|
$ |
(78,470 |
) |
|
$ |
(23,407 |
) |
|
$ |
(101,877 |
) |
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Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit): |
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Three Months and Nine Months Ended September 30, 2021 |
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| Contingent earnout liability upon closing of the merger |
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$ |
(78,395 |
) |
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$ |
20,121 |
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$ |
(58,274 |
) |
| Additional paid-in capital |
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$ |
393,872 |
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$ |
20,121 |
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$ |
413,993 |
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| Accumulated Deficit |
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$ |
(290,407 |
) |
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$ |
(23,407 |
) |
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$ |
(313,814 |
) |
| Total stockholders’ equity |
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$ |
103,289 |
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$ |
(3,286 |
) |
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$ |
100,003 |
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Condensed Consolidated Statements of Cash Flows: |
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Nine Months Ended September 30, 2021 |
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$ |
(79,261 |
) |
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$ |
(23,407 |
) |
|
$ |
(102,668 |
) |
Change in fair value of contingent earnout liability |
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$ |
(1,265 |
) |
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$ |
23,407 |
|
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$ |
22,142 |
|
Net cash used in operating activities |
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$ |
(40,008 |
) |
|
$ |
—
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$ |
(40,008 |
) |
Noncash Investment and financing activities |
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Contingent earnout liability recognized upon the closing of the reverse recapitalization |
|
$ |
78,395 |
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$ |
(20,121 |
) |
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$ |
58,274 |
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(1) |
Change in fair value of contingent earnout liability was included in the other income (expense), net, in the Original Form 10-Q and was reclassified to a separate line item in the Form 10-Q/A. There were no adjustments to the remaining Other income (expense), net amounts. |
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