Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 4 Months Ended 7 Months Ended 12 Months Ended
Mar. 31, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:          
Net income     $ 2,331,442 $ (20,522,282)  
Adjustments to reconcile net income to net cash used in operating activities:          
Interest earned on marketable securities held in Trust Account     (1,261,596) (1,016,670)  
Change in fair value of warrant liabilities $ 5,125,000 $ 333,333 (2,183,333) 20,650,000 $ 2,218,333
Transaction costs allocable to warrant liabilities   (636,669) 636,669   (636,669)
Changes in operating assets and liabilities:          
Prepaid expenses     (125,000) 75,000  
Accounts payable and accrued expenses     136,694 22,253  
Income taxes payable     208,612 (2,768)  
Net cash used in operating activities     (256,512) (794,467)  
Cash Flows from Investing Activities:          
Investment of cash in Trust Account     (275,000,000)    
Cash withdrawn from Trust Account to pay franchise and income taxes       334,927  
Net cash provided by (used in) investing activities     (275,000,000) 334,927  
Cash Flows from Financing Activities:          
Proceeds from sale of Units, net of underwriting discounts paid     269,500,000    
Proceeds from Issuance of Warrants     7,500,000    
Proceeds from promissory notes - related party     231,366    
Repayment of promissory notes - related party     (231,366)    
Payment of offering costs     (437,880)    
Net cash provided by financing activities     276,562,120    
Net Change in Cash     1,305,608 (459,540)  
Cash - Beginning $ 1,305,608 $ 0 0 1,305,608  
Cash - Ending     1,305,608 846,068 $ 1,305,608
Supplemental cash flow information:          
Cash paid for income taxes       213,233  
Non-cash investing and financing activities:          
Initial classification of Class A common stock subject to redemption     243,609,820    
Change in value of Class A common stock subject to possible redemption     2,969,403 $ (20,522,284)  
Initial classification of warrant liabilities     18,300,000    
Deferred underwriting fee payable     9,625,000    
Offering costs paid directly by Sponsor in exchange for the issuance of Class B common stock to Sponsor     $ 25,000