Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Measurements [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.

Description
  
Quoted Prices in Active
Markets
(Level 1)
    
Significant Other
Observable Inputs
(Level 2)
    
Significant Other
Unobservable Inputs
(Level 3)
  
Assets:
                  
Investments held in Trust Account - U.S Treasury securities
  
$
345,002,727
    
$
-
     $
 -
  
                         
Liabilities:
                        
Derivative warrant liabilities - Public warrants
  
$
-
    
$
-
    
$
17,135,000
  
Derivative warrant liabilities - Private placement warrants
  
$
-
    
$
-
    
$
8,840,670
  
Level 3 Fair Value Measurement Inputs
The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

   
March 16, 2021
    
March 31, 2020
  
Exercise price
  
$
11.50
    
$
11.50
  
Stock price
  
$
10.00
    
$
10.00
  
Volatility
    
24.0
%
    
24.0
%
Expected life (years)
    
5.25
      
5.25
  
Risk-free rate
    
0.07
%
    
0.07
%
Change in Fair Value of the Derivative Warrant Liabilities Measured using Level 3 Inputs
The change in the fair value of the derivative warrant liabilities, measured using Level 3 inputs, for the period from January 19, 2021 (inception) through March 31, 2021 is summarized as follows:

Derivative liabilities at January 19, 2021 (inception)
  
$
-
  
Issuance of derivative liabilities
    
26,150,000
  
Change in fair value of derivative  liabilities
    
(174,330
)
Derivative liabilities at March 31, 2021
  
$
25,975,670