0001193125-20-223782 | 10-Q | XBRL Viewer

Cover Page - shares	5 Months Ended
Cover Page - shares	Jun. 30, 2020	Aug. 18, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Artius Acquisition Inc.
Entity Central Index Key	0001802457
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Title of 12(b) Security	Class A ordinary shares, par value $0.0001 per share
Trading Symbol	AACQ
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	E9
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Address, State or Province	NY
Capital Units
Document Information [Line Items]
Title of 12(b) Security	Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-third of one redeemable warrant
Trading Symbol	AACQU
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
Trading Symbol	AACQW
Security Exchange Name	NASDAQ
Class A ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		72,450,000
Class B ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		18,112,500

Condensed Balance Sheet

Jun. 30, 2020

USD ($)

ASSETS

Deferred offering costs

$ 597,572

TOTAL ASSETS

597,572

Current liabilities

Accrued expenses

9,069

Accrued offering costs

391,143

Promissory note – related party

181,429

Total Current Liabilities

581,641

Commitments

Shareholder's Equity

Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding

Additional paid-in capital

23,189

Accumulated deficit

(9,069)

Total Shareholder's Equity

15,931

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY

597,572

Class A ordinary shares

Shareholder's Equity

Common stock

Class B ordinary shares

Shareholder's Equity

Common stock

$ 1,881

^[1]

[1]	Included an aggregate of up to 2,362,500 shares that were subject to forfeiture to the extent that the underwriters’ over-allotment option was not exercised in full (see Note 5).

Condensed Balance Sheet (Parenthetical)	Jun. 30, 2020 $ / shares shares
Preferred stock, par value \| $ / shares	$ 0.0001
Preferred stock, shares authorized	1,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Class A ordinary shares
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	400,000,000
Common stock, shares issued	0
Common stock, shares outstanding	0
Class B ordinary shares
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	50,000,000
Common stock, shares issued	18,112,500
Common stock, shares outstanding	18,112,500
Class B ordinary shares \| Overallotement Option
Common stock shares subject to forfeiture	2,362,500

Condensed Statements Of Operations - USD ($)

3 Months Ended

5 Months Ended

Jun. 30, 2020

Formation and operating costs

$ 0

$ 9,069

Net Loss

$ 0

$ (9,069)

Weighted average shares outstanding, basic and diluted

^[1]

15,750,000

Basic and diluted net loss per ordinary share

$ 0.00

[1]	Excluded an aggregate of up to 2,362,500 shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5).

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Statement Of Changes In Shareholder's Equity - USD ($)

Total

Common Stock

Class B ordinary shares

Additional Paid-in Capital

Accumulated Deficit

Balance beginning at Jan. 23, 2020

$ 0

Balance beginning (Shares) at Jan. 23, 2020

Issuance of Class B ordinary shares to Sponsor

^[1]

25,000

$ 1,811

23,189

Issuance of Class B ordinary shares to Sponsor (Shares)

^[1]

18,112,500

Net loss

(9,069)

Balance ending at Mar. 31, 2020

15,931

$ 1,811

23,189

(9,069)

Balance ending (Shares) at Mar. 31, 2020

18,112,500

Balance beginning at Jan. 23, 2020

$ 0

Balance beginning (Shares) at Jan. 23, 2020

Net loss

(9,069)

Balance ending at Jun. 30, 2020

15,931

$ 1,811

23,189

(9,069)

Balance ending (Shares) at Jun. 30, 2020

18,112,500

Balance beginning at Mar. 31, 2020

15,931

$ 1,811

23,189

(9,069)

Balance beginning (Shares) at Mar. 31, 2020

18,112,500

Net loss

Balance ending at Jun. 30, 2020

$ 15,931

$ 1,811

$ 23,189

$ (9,069)

Balance ending (Shares) at Jun. 30, 2020

18,112,500

[1]	Included an aggregate of up to 2,362,500 shares that were subject to forfeiture to the extent that the underwriters’ over-allotment option was not exercised in full (see Note 5).

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Condensed Statements Of Cash Flows	5 Months Ended
Condensed Statements Of Cash Flows	Jun. 30, 2020 USD ($)
Cash Flows from Operating Activities:
Net loss	$ (9,069)
Changes in operating assets and liabilities:
Accrued expenses	9,069
Net cash used in operating activities	0
Cash Flows from Financing Activities:
Proceeds from promissory note—related party	181,429
Payment of offering costs	(181,429)
Net cash provided by financing activities	0
Net Change in Cash	0
Cash – Beginning	0
Cash – Ending	0
Non-cash investing and financing activities:
Deferred offering costs included in accrued offering costs	391,143
Deferred offering costs paid directly by Sponsor in exchange for the issuance of Class B ordinary shares	$ 25,000

Description of Organiation And Business Operations

5 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Organiation And Business Operations

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Artius Acquisition Inc. (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on January 24, 2020. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”).

Although the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination, the Company intends to focus on technology enabled businesses that directly or indirectly offer specific technology solutions, broader technology software and services, or financial and transactional services to companies of all sizes. 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 June 30, 2020, the Company had not commenced any operations. All activity for the period from January 24, 2020 (inception) through June 30, 2020 relates to the Company’s formation and its initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate

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 became effective on July 13, 2020. On July 16, 2020, the Company consummated the Initial Public Offering of 72,450,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public Shares”), which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 9,450,000 Units, at $10.00 per Unit, generating gross proceeds of $724,500,000 which is described in Note 3.

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 11,326,667 warrants (the “Private Placement Warrants”) at a price of $1.50 per Private Placement Warrant in a private placement to Artius Acquisition Partners LLC (the “Sponsor”), generating gross proceeds of $16,990,000, which is described in Note 4.

Transaction costs amounted to $40,686,819, consisting of $14,490,000 of underwriting fees, $25,357,500 of deferred underwriting fees and $839,319 of other offering costs. In addition, as of July 16, 2020, cash of $1,385,431 was held outside of the Trust Account (as defined below) and is available for working capital purposes.

Following the closing of the Initial Public Offering on July 16, 2020, an amount of $724,500,000 ($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”) located in the United States and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund meeting certain conditions of Rule

2a-7

of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below.

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. So long as the Company obtains and maintains a listing for its securities on Nasdaq, the Company must complete its initial Business Combination with one or more target businesses that together have a fair market value equal to at least 80% of the net assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the Trust Account) at the time of the Company signing a definitive agreement in connection with the Company’s initial Business Combination. The Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the issued and outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination.

The Company will provide its shareholders 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 shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company. The shareholders will be entitled to redeem their shares for a pro rata portion of the amount held in the Trust Account (initially $10.00 per share), calculated as of two business days prior to the completion of a Business Combination, including any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants.

The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 upon such completion of a Business Combination and, if the Company seeks shareholder approval, it receives an ordinary resolution under Cayman Islands law approving a Business Combination, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the Company. If a shareholder vote is not required under applicable law or stock exchange listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, conduct the redemptions pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 5) and any Public Shares purchased in or after the Initial Public Offering in favor of approving a Business Combination and to waive its redemption rights with respect to any such shares in connection with a shareholder vote to approve a Business Combination. Additionally, each public shareholder may elect to redeem their Public Shares, without voting, and if they do vote, irrespective of whether they vote for or against a proposed Business Combination.

Notwithstanding the foregoing, if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association provides that 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 under Section 13 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 without the Company’s prior written consent.

The Sponsor has agreed (a) to waive its redemption rights with respect to any Founder Shares and Public Shares held by it in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Memorandum and Articles of Association (i) to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or (ii) with respect to any other provision relating to shareholders’ rights or

pre-initial

business combination activity, unless the Company provides the public shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment.

The Company will have until July 16, 2022 (the “Combination Period”) to consummate a Business Combination. If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than 10 business days thereafter, redeem 100% of the outstanding Public Shares, at a

per-share

price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (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 public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.

The Sponsor has agreed to waive its liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. The underwriters have agreed to waive their rights to their deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00).

The Sponsor has agreed that it will be liable to the Company, if and to the extent any claims by a third party for services rendered or products sold to the Company, or by 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 (1) $10.00 per Public Share or (2) 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 trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes. This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering 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 (other than the Company’s independent auditors), prospective target businesses or 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.

Summary of Significant Accounting Policies

5 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 2. 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 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 prospectus for its Initial Public Offering as filed with the SEC on July 15, 2020, as well as the Company’s Current Reports on

Form 8-K,

as filed with the SEC on July 16, 2020 and July 22, 2020. The interim results for the three months ended June 30, 2020 and for the period from January 24, 2020 (inception) through June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any future 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 independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, 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 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 the financial statements in conformity with 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 revenues 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 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 June 30, 2020.

Offering Costs

Offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Offering costs amounting to $40,686,819 were charged to shareholders’ equity upon the completion of the Initial Public Offering.

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 June 30, 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 Loss Per Ordinary Share

Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 2,362,500 ordinary shares, that were subject to forfeiture if the over-allotment option was not exercised by the underwriters (see Note 5). At June 30, 2020, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per share for the periods presented.

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 fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying condensed balance sheet, primarily due to their short-term nature.

Recent 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.

Risks and Uncertainties

In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States and the World. As of the date the financial statements were issued, there was considerable uncertainty around the expected duration of this pandemic. The Company has concluded that while it is reasonably possible that COVID-19 could have a negative effect on identifying a target company for a Business Combination, 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.

Related Party Transactions

5 Months Ended

Jun. 30, 2020

Related Party Transactions

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On February 4, 2020, the Sponsor paid $25,000 to cover certain offering costs of the Company in consideration of 11,500,000 of the Company’s Class B ordinary shares (the “Founder Shares”). On June 24, 2020 and July 13, 2020, the Company effected share capitalizations resulting in the Sponsor holding an aggregate of 18,112,500 Founder Shares. The Founder Shares will automatically convert into Class A ordinary shares at the time of the completion of a Business Combination on a

one-for-one

basis, subject to certain adjustments, as described in Note 7.

The Founder Shares included an aggregate of up to 2,362,500 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment was not exercised in full or in part, so that the number of Founder Shares would collectively represent 20% of the Company’s issued and outstanding shares upon the completion of the Initial Public Offering. As a result of the underwriters’ election to fully exercise their over-allotment option, no Founder Shares are currently subject to forfeiture.

The Sponsor has agreed, subject to limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A) one year after the completion of a Business Combination; and (B) subsequent to a Business Combination, (x) if the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share

sub-divisions,

share 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, amalgamation, share exchange, reorganization or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Promissory Note — Related Party

On February 4, 2020, the Company issued the Promissory Note to the Sponsor, pursuant to which the Company could borrow up to an aggregate principal amount of $300,000, The Promissory Note was

non-interest

bearing and payable on the earlier of (i) December 31, 2020 and (ii) the completion of the Initial Public Offering. As of June 30, 2020, there was $181,429 outstanding under the Promissory Note. The outstanding balance under the Promissory Note of $215,215 was repaid in full upon the closing of the Initial Public Offering.

Administrative Services Agreement

The Company entered into an agreement whereby, commencing on July 14, 2020, the Company will pay an affiliate of the Sponsor up to $25,000 per month for accounting, bookkeeping, office space, IT support, professional, secretarial and administrative services. Upon completion of a Business Combination or its liquidation, the Company will cease paying these monthly fees.

Related Party Loans

In order to finance transaction costs in connection with a 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 (“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 $1,500,000 of the notes may be converted upon completion of a Business Combination into warrants at a price of $1.50 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.

Shareholder's Equity

5 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Shareholder's Equity

NOTE 7. SHAREHOLDER’S EQUITY

Preference Shares

—The Company is authorized to issue 1,000,000 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 June 30, 2020, there were no preference shares issued or outstanding.

Class

A Ordinary Shares

—The Company is authorized to issue 400,000,000 Class A ordinary shares, with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. At June 30, 2020, there were no Class A ordinary shares issued or outstanding.

Class

B Ordinary Shares

—The Company is authorized to issue 50,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B ordinary shares are entitled to one vote for each share. At June 30, 2020, there were 18,112,500 Class B ordinary shares issued and outstanding.

Only holders of the Class B ordinary shares will have the right to vote on the election of directors prior to the Business Combination. Holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of the Company’s shareholders except as otherwise required by law.

The Class B Shares will automatically convert into Class A ordinary shares at the time of a Business Combination, on a

one-for-one

basis, subject to adjustment. In the case that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts issued in the Initial Public Offering and related to the closing of a Business Combination, the ratio at which Class B ordinary shares will convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, on an

as-converted

basis, 20% of the sum of the total number of all ordinary shares issued and outstanding upon completion of the Initial Public Offering plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with a Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the Business Combination and any private placement-equivalent warrants issued to the Sponsor or its affiliates upon conversion of loans made to the Company).

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. 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 issuance of the Class A ordinary shares issuable upon exercise of the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations described below with respect to registration, or a valid exemption from registration is available. No Public 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 Public Warrants, unless the issuance of the shares upon such exercise is registered, qualified or deemed to be exempt under the securities laws of the state 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 15 business days, after the closing of a Business Combination, it will use its best 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 best 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 or redemption of the Public Warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if the Company’s Class A ordinary shares are at the time of any exercise of a 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, 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. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th day after the closing of the initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption, but the Company will be required to 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 Class

A ordinary share equals or exceeds $18.00

. Once the Public Warrants become exercisable, the Company may redeem the outstanding 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 warrant holder and

•

if, and only if, the last reported sale price of the Company’s 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 warrant holders (the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for share

sub-divisions,

share capitalizations, reorganizations, recapitalizations and the like).

The Company will not redeem the warrants as described above unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants is effective and a current prospectus relating to those Class A ordinary shares is available throughout the

30-day

redemption period. If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws.

Redemption of warrants when the price per Class

A ordinary share equals or exceeds $10.00

. Once the warrants become exercisable, the Company may redeem the outstanding Public Warrants:

•

in whole and not in part;

•

at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the “fair market value” of the Company’s Class A ordinary shares;

•

if, and only if, the Reference Value (as defined above under “— Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00”) equals or exceeds $10.00 per share (as adjusted for share

sub-divisions,

share capitalizations, reorganizations, recapitalizations and the like); and

•

if the Reference Value is less than $18.00 per share (as adjusted for share

sub-divisions,

share capitalizations, reorganizations, recapitalizations and the like), the Private Placement Warrants must also concurrently be called for redemption on the same terms as the outstanding Public Warrants, as described above.

If and when the 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 dividend, extraordinary dividend or recapitalization, reorganization, 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 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, 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 completion of a Business Combination (net of redemptions), 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 and the “Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” 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 price described above under “Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” 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 Initial Public Offering, except that (x) the Private Placement Warrants and the Class A ordinary shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions, (y) the Private Placement Warrants will be exercisable on a cashless basis and be

non-redeemable

so long as they are held by the initial purchasers or their permitted transferees and (z) the Private Placement Warrants and the Class A ordinary shares issuable upon exercise of the Private Placement Warrants will be entitled to registration rights. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable under all redemption scenarios by the Company and exercisable by such holders on the same basis as the Public Warrants.

Summary of Significant Accounting Policies (Policies)

5 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

Form 10-Q

and Article 8 of Regulation

S-X

Form 8-K,

Emerging Growth Company

non-emerging

Use of Estimates

Cash and Cash Equivalents

Offering Costs

Income Taxes

more-likely-than-not

Net Loss Per Ordinary Share

Concentration of Credit Risk

Fair Value of Financial Instruments

Recent Accounting Standards

Risks and Uncertainties

Description of Organization And Business Operations - Additional Information (Detail) - USD ($)			5 Months Ended
	Jul. 16, 2022	Jul. 16, 2020	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Entity Incorporation, Date of Incorporation			Jan. 24, 2020
Transaction costs		$ 40,686,819
Deferred underwriting fees			$ 25,357,500
Forecast
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of timing of the company's obligation to redeem public shares before business combination	100.00%
Estimated costs of winding up	$ 100,000
Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Proceeds from Issuance of Initial Public Offering		$ 724,500,000
Warrants issued, price per warrants		$ 10.00
Proceeds from Issuance of Warrants		$ 724,500,000
Transaction costs		40,686,819
Underwriting fees Paid		14,490,000
Deferred underwriting fees		25,357,500
Other offering costs		839,319
Cash held outside trust account		$ 1,385,431
Percentage of fair market value of target business to net assets held in the trust account		80.00%
Percentage of redeeming shares of public shares without the company's prior written consent		15.00%
Percentage of timing of the company's obligation to redeem public shares before business combination		100.00%
Subsequent Event \| Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Business combination issued and outstanding voting securities		50.00%
Business combination, net tangible assets acquired		$ 5,000,001
Subsequent Event \| Asset Held in Trust
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Redemption of share, price per share		$ 10.00
Private Placement Warrants \| Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Warrants issued during the period		11,326,667
Warrants issued, price per warrants		$ 1.50
Proceeds from Issuance of Warrants		$ 16,990,000
Private Placement Warrants \| Subsequent Event \| Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment In Trust Account Maturity Term		0 days
Overallotement Option \| IPO \| Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock shares subject to forfeiture		9,450,000
Common Class A \| IPO \| Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Issue of common stocks, Initial public offering	72,450,000
Shares issued, price per share		$ 10.00
Common Class A \| Overallotement Option \| Subsequent Event
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Issue of common stocks, Initial public offering		72,450,000

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)		5 Months Ended
	Jul. 16, 2020	Jun. 30, 2020	Jan. 23, 2020
Significant Accounting Policies [Line Items]
Transaction costs	$ 40,686,819
Federal depository insurance coverage		$ 250,000
Cash and cash equivalents, at carrying value		$ 0	$ 0
Antidilutive securities excluded from computation of earnings per share		0
Overallotement Option \| Class B ordinary shares
Significant Accounting Policies [Line Items]
Common stock shares subject to forfeiture		2,362,500

Related Party Transactions - Additional Information (Detail) - USD ($)				3 Months Ended
	Jul. 14, 2020	Jul. 13, 2020	Feb. 04, 2020	Jun. 30, 2020
Related Party Transaction [Line Items]
Promissory note – related party				$ 181,429
Debt instrument convertible portion				$ 1,500,000
Debt instrument conversion price per unit				$ 1.50
Subsequent Event
Related Party Transaction [Line Items]
Repayment of notes payable to related party current		$ 215,215
Sponsor
Related Party Transaction [Line Items]
Percentage of founder shares to total issued and outstanding shares				20.00%
Sponsor \| Maximum
Related Party Transaction [Line Items]
Debt instrument face value			$ 300,000
Sponsor \| Administrative Services
Related Party Transaction [Line Items]
Related party transaction amounts of transaction	$ 25,000
Sponsor \| Offering Costs
Related Party Transaction [Line Items]
Related party transaction amounts of transaction			$ 25,000
Sponsor \| Founder Shares
Related Party Transaction [Line Items]
Stock issued during the period for services			11,500,000
Common stock shares subject to forfeiture				2,362,500
Share transfer, trigger price price per share				$ 12.00
Number of consecutive trading days for determining share price				20 days
Number of trading days for determining share price				30 days
Sponsor \| Subsequent Event \| Founder Shares
Related Party Transaction [Line Items]
Common stock shares outstanding		18,112,500

Shareholder's Equity - Additional Information (Detail) - $ / shares	5 Months Ended
	Jun. 30, 2020	Jan. 24, 2020
Class of Stock [Line Items]
Preferred shares authorised	1,000,000
Preferred stock, par value	$ 0.0001
Preferred shares issued	0
Preferred stock, shares outstanding	0
Percentage of the common stock outstanding when common stock is converted from class to another	20.00%
Share price	$ 9.20
Public Warrants
Class of Stock [Line Items]
Term of warrants	5 years
Minimum
Class of Stock [Line Items]
Class of warrants, exercise price adjustment percentage	115.00%
Maximum
Class of Stock [Line Items]
Class of warrants, exercise price adjustment percentage	180.00%
Event Triggering Warrant Redemption When The Share Issue Price Is Less Than The Threshold
Class of Stock [Line Items]
Number of trading days for determining volume weighted average share price	20 days
Percentage of capital raised for business combination to total equity proceeds		60.00%
Share Trigger Price One
Class of Stock [Line Items]
Warrant instrument redemption threshold consecutive trading days	20 days
Warrant instrument redemption threshold trading days	30 days
Share Trigger Price One \| Public Warrants
Class of Stock [Line Items]
Class of warrants redemption notice period	30 days
Class of warrants redemption price per unit	$ 0.01
Share Trigger Price Two \| Public Warrants
Class of Stock [Line Items]
Class of warrants redemption price per unit	$ 0.10
Common Class A
Class of Stock [Line Items]
Common stock, shares authorized	400,000,000
Common stock, par value	$ 0.0001
Common stock shares issued	0
Common stock, shares outstanding	0
Common stock description of voting rights	one vote for each share
Common Class A \| Share Trigger Price One
Class of Stock [Line Items]
Share redemption trigger price per share	$ 18.00
Common Class A \| Share Trigger Price Two
Class of Stock [Line Items]
Share redemption trigger price per share	$ 10.00
Common Class B
Class of Stock [Line Items]
Common stock, shares authorized	50,000,000
Common stock, par value	$ 0.0001
Common stock shares issued	18,112,500
Common stock, shares outstanding	18,112,500
Common stock description of voting rights	one vote for each share

Condensed Statements Of Operations (Parenthetical)	Jun. 30, 2020 shares
Overallotement Option \| Class B ordinary shares
Common stock shares subject to forfeiture	2,362,500

Condensed Statement Of Changes In Shareholder's Equity (Parenthetical)	Jun. 30, 2020 shares
Over-Allotment Option \| Class B ordinary shares
Common stock shares subject to forfeiture	2,362,500

Private Placement - Additional Information (Detail) - Subsequent Event	Jul. 16, 2020 USD ($) $ / shares shares
Class of Warrant or Right [Line Items]
Proceeds from issue of warrants \| $	$ 724,500,000
Warrants issued, price per warrants	$ 10.00
Sponsor
Class of Warrant or Right [Line Items]
Proceeds from issue of warrants \| $	$ 16,990,000
Exercise price of warrants	$ 11.50
Warrants issued during the period \| shares	11,326,667
Warrants issued, price per warrants	$ 1.50

Commitments - Additional Information (Detail) - USD ($)	5 Months Ended
Commitments - Additional Information (Detail) - USD ($)	Jun. 30, 2020	Jul. 13, 2020
Commitments and Contingencies Disclosure [Abstract]
Percentage of holders entitled to make demands		20.00%
Underwriting fee, per unit	$ 0.35
Deferred underwriting fees	$ 25,357,500