Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.22.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 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 December 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
  
$
345,071,635
    
$
-
    
$
-
  
                         
Liabilities:
                        
Derivative warrant liabilities - Public warrants
  
$
10,465,000
    
$
-
    
$
-
  
Derivative warrant liabilities - Private placement warrants
  
$
-
    
$
5,399,330
    
$
-
  
Level 3 Fair Value Measurement Inputs

  March 16, 2020
  
Exercise price
   $ 11.50  
Stock price
   $ 10.00  
Volatility
     24.0 %
Expected life (years)
     5.25  
Risk-free rate
     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 December 31, 2021 is summarized as follows:
 
Derivative liabilities at January 19, 2021 (inception)
  
$
-
  
Issuance of derivative liabilities
    
26,150,000
  
Transfer of Public warrants to Level 1
    
(17,135,000
)
Transfer of Private Placement warrants to Level 2
    
(8,840,670
)
Change in fair value of derivative warrant liabilities
    
(174,330
)
Derivative liabilities at December 31, 2021
  
$
-