Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
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 June 30, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:
      June 30, 2022        
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
  
$
345,709,304
    
$
-
     $ -  
                         
Liabilities:                        
Derivative warrant liabilities - Public warrants
  
$
1,840,000
    
$
-
    
$
-
  
Derivative warrant liabilities - Private placement warrants
  
$
-
    
$
949,330
    
$
-
  

    December 31, 2021
 
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
    
$
-
  
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 June 30, 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
  
Transfer of Public warrants to Level 1     (17,135,000 )
Transfer of Private Placement warrants to Level 2     (8,840,670 )
Derivative liabilities at June 30, 2021
   $
-