Document and Entity Information - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
May 04, 2021 |
Jun. 30, 2020 |
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Document And Entity Information [Line Items] | |||
Document Type | 10-K/A | ||
Amendment Flag | true | ||
Amendment Description | This Amendment No. 1 on Form 10-K/A (this “Amendment”) amends and restates certain items noted below of the Annual Report on Form 10-K of Crescent Acquisition Corp (the “Company”, “we”, “our” or “us”) as of and for the years ended December 31, 2020 and 2019, as filed with the Securities and Exchange Commission (the “SEC”) on March 3, 2021 (the “Original Filing”). This Form 10-K/A amends the Original Filing to reflect the correction of an error in its unaudited interim financial statements as of and for the periods ended March 31, 2019, June 30, 2019, September 30, 2019, March 31, 2020, June 30, 2020 and September 30, 2020 and its audited financial statements as of and for the periods ended December 31, 2020 and 2019. The correction involves only non-cash adjustments. On April 12, 2021, the Staff of the SEC's Division of Corporation Finance (“Staff”) issued a statement entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies.” In the statement, the SEC Staff, among other things, highlighted potential accounting implications of certain terms that are common in warrants issued in connection with the initial public offerings of special purpose acquisition companies such as the Company. As a result of the SEC Staff statement and in light of evolving views as to certain provisions commonly included in warrants issued by special purpose acquisition companies, the Company re-evaluated its accounting for its public warrants and private placement warrants issued in connection with the Company’s initial public offering (the “Warrants”) as well as for the forward purchase agreement entered into with its investment adviser (the “Forward Purchase Agreement”), and concluded that the Warrants and the Forward Purchase Agreement should be treated as derivative liabilities pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815-40, Contracts in Entity’s Own Equity (“ASC 815-40”) rather than as components of equity as the Company previously treated the Warrants and the Forward Purchase Agreement. | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Crescent Acquisition Corp | ||
Entity Central Index Key | 0001723648 | ||
Current Fiscal Year End Date | --12-31 | ||
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 Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity File Number | 001-38825 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 82-3447941 | ||
Entity Address, Address Line One | 11100 Santa Monica Blvd | ||
Entity Address, Address Line Two | Suite 2000 | ||
Entity Address, City or Town | Los Angeles | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 90025 | ||
City Area Code | 310 | ||
Local Phone Number | 235-5900 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Public Float | $ 261,500,000 | ||
Class A | |||
Document And Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 24,987,762 | ||
Title of 12(b) Security | Class A common stock, $0.0001 par value per share | ||
Trading symbol | CRSA | ||
Security Exchange Name | NASDAQ | ||
Class F | |||
Document And Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 6,250,000 | ||
Class A Common Stock and One-half of One Redeemable Warrant | |||
Document And Entity Information [Line Items] | |||
Title of 12(b) Security | Units, each consisting of one share of Class A common stock and one-half of one redeemable Warrant | ||
Trading symbol | CRSAU | ||
Security Exchange Name | NASDAQ | ||
Redeemable Warrants | |||
Document And Entity Information [Line Items] | |||
Title of 12(b) Security | Redeemable Warrants, each whole Warrant exercisable for one share of Class A common stock at an exercise price of $11.50 | ||
Trading symbol | CRSAW | ||
Security Exchange Name | NASDAQ |