Restatement of Previously Issued Financial Statements (Tables)

6 Months Ended

Jun. 30, 2021

Summary of restatement of condensed financial statements

The impact of the revision on the Company’s condensed financial statements are reflected in the following table.


	As Previously Reported			Restatement Adjustment			As Restated
Condensed Balance Sheet as of March 31, 2021 (unaudited)
Class A common stock subject to possible redemption	$	547,418,880		$	52,581,120		$	600,000,000
Class A common stock	$	526		$	(526	)	$	—
Additional paid-in capital	$	6,087,575		$	(6,087,575	)	$	—
Accumulated deficit	$	(1,089,599	)	$	(46,493,019	)	$	(47,582,618	)
Total Stockholders’ Equity (Deficit)	$	5,000,002		$	(52,581,120	)	$	(47,581,118	)


Condensed Statement of Operations for the Three Months Ended March 31, 2021 (unaudited)
Basic and diluted weighted average shares outstanding, Class A common stock		60,000,000			(38,000,000	)		22,000,000
Basic and diluted net loss per share, Class A common stock	$	—		$	(0.03	)	$	(0.03	)
Basic and diluted weighted average shares outstanding, Class B common stock		13,812,500			—			13,812,500
Basic and diluted net income (loss) per share, Class B common stock	$	(0.08	)	$	0.05		$	(0.03	)

Condensed Statement of Operations for the Three Months Ended June 30, 2021 (unaudited)
Basic and diluted weighted average shares outstanding, Class A common stock		60,000,000			—			60,000,000
Basic and diluted net income per share, Class A common stock	$	—		$	0.05		$	0.05
Basic and diluted weighted average shares outstanding, Class B common stock		15,000,000			—			15,000,000
Basic and diluted net income (loss) per share, Class B common stock	$	0.23		$	(0.18	)	$	0.05

Condensed Statement of Operations for the Six Months Ended June 30, 2021 (unaudited)
Basic weighted average shares outstanding, Class A common stock		60,000,000			(18,895,028	)		41,104,972
Basic net income per share, Class A common stock	$	—		$	0.04		$	0.04
Basic weighted average shares outstanding, Class B common stock		14,409,530			300,415			14,709,945
Basic net income (loss) per share, Class B common stock	$	0.17		$	(0.13	)	$	0.04
Diluted weighted average shares outstanding, Class B common stock		—			15,000,000			15,000,000
Diluted net income per share, Class B common stock	$	—			0.04			0.04

Non-Cash investing and financing activities:
Condensed Statement of Cash Flows for the Three Months Ended March 31, 2021 (unaudited)
Initial classification of Class A common stock subject to possible redemption	$	547,614,630		$	(547,614,630	)	$	—
Change in value of Class A common stock subject to possible redemption	$	(195,750	)	$	195,750		$	—
Condensed Statement of Cash Flows for the Six Months Ended June 30, 2021 (unaudited)
Initial classification of Class A common stock subject to possible redemptio n	$	600,000,000		$	(600,000,000	)	$	—

Hudson Executive Investment Corp. III 10-Q/A