Document And Entity Information - shares |
9 Months Ended | |
|---|---|---|
Sep. 30, 2021 |
Nov. 10, 2021 |
|
| Document Information Line Items | ||
| Entity Registrant Name | CLEANTECH ACQUISITION CORP. | |
| Trading Symbol | CLAQ | |
| Document Type | 10-Q/A | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Common Stock, Shares Outstanding | 21,562,500 | |
| Amendment Flag | true | |
| Amendment Description | References throughout this Amendment to the Quarterly Report on Form 10-Q to “we,” “us,” the “Company” or “our company” are to CleanTech Acquisition Corp., unless the context otherwise indicates.This Amendment (“Amendment”) to the Quarterly Report on Form 10-Q/A amends the Quarterly Report on Form 10-Q of CleanTech Acquisition Corp. as of and for the nine months ended September 30, 2021, as filed with the Securities and Exchange Commission (“SEC”) on November 12, 2021 (the “Original Filing”).Restatement Background — In connection with the audit of the Company’s annual financial statements as of and for the year ended December 31, 2021, the Company’s auditors, WithumSmith+Brown, PC, identified an error made in the Original Filing arising from the Company’s incorrect allocation of proceeds from the Initial Public Offering to the issued Rights. As such, the Company had to reassess the allocation of the proceeds and costs related to the Initial Public Offering, consummated on July 19, 2021. Additionally, this change in allocation led to a change in the Company’s valuation of the public and private warrants as of the Initial Public Offering date, and the subsequent operating gain (loss) around the change in the fair value of the warrant liabilities in this Form 10-Q/A.As a result, the Company’s management determined that the Company’s financial statements and other financial data as of and for the nine months ended September 30, 2021 should be restated in this Quarterly Report 10-Q/A as a result of this error.The Company’s management has noted errors related to transaction costs and change in fair value of warrant liabilities, net loss and basic and diluted change in income (loss) per share in the condensed statements of operations for the three and nine months ended September 30, 2021, along with related impacts to the condensed statements of stockholders’ (deficit) equity and the condensed statement of cash flows for the nine months ended September 30, 2021.The Company’s management has also noted an error related to the fair value of the underwriters’ over-allotment option to purchase additional Units at the Initial Public Offering price. This error impacts net loss and basic and diluted change in income (loss) per share in the condensed statements of operations for the three and nine months ended September 30, 2021, along with related impacts to the condensed statements of stockholders’ (deficit) equity and the condensed statement of cash flows for the nine months ended September 30, 2021.In light of the foregoing, on March 28, 2022, the Audit Committee of the Company’s board of directors, based on the recommendation of and after consultation with management and the Company’s advisors, concluded that the Company’s original financial statements and related financial information contained in the Original Filing should no longer be relied upon and should be restated in order to correct the errors described above. Neither the manner in which the Company accounted for the allocation of proceeds from the Initial Public Offering or the change in fair value of warrant liabilities for the three month and nine months ended September 30, 2021 had any effect on the Company’s previously reported cash position.The financial information that has been previously filed or otherwise reported is superseded by the information in this Amendment, and the original financial statements and related financial information contained in the Original Filing should no longer be relied upon.In addition, as required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended, new certifications by the Company’s principal executive officer and principal financial officer are filed as exhibits to this Amendment under Item 6 of Part II hereof. | |
| Entity Central Index Key | 0001849820 | |
| Entity Current Reporting Status | Yes | |
| Entity Filer Category | Non-accelerated Filer | |
| Document Period End Date | Sep. 30, 2021 | |
| Document Fiscal Year Focus | 2021 | |
| Document Fiscal Period Focus | Q3 | |
| Entity Small Business | true | |
| Entity Emerging Growth Company | true | |
| Entity Shell Company | true | |
| Entity Ex Transition Period | false | |
| Document Quarterly Report | true | |
| Document Transition Report | false | |
| Entity File Number | 001-40611 | |
| Entity Incorporation, State or Country Code | DE | |
| Entity Tax Identification Number | 85-1699753 | |
| Entity Address, Address Line One | 207 West 25th Street, 9th Floor | |
| Entity Address, City or Town | New York | |
| Entity Address, State or Province | NY | |
| Entity Address, Postal Zip Code | 10001 | |
| City Area Code | (212) | |
| Local Phone Number | 494-9005 | |
| Title of 12(b) Security | Common Stock | |
| Security Exchange Name | NASDAQ | |
| Entity Interactive Data Current | Yes |