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Recurring Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2021
Assets Held-in-trust [Abstract]  
Schedule of Recurring Fair Values Investments Quoted Price in Active Markets for identical Assets The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.
 
   
Carrying
Value
   
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 – Money Market Fund
  $277,852,728   $277,852,728   $—     $—   
   
 
 
   
 
 
   
 
 
   
 
 
 
   
$
277,852,728   
$
277,852,728   
$
—     
$
—   
   
 
 
   
 
 
   
 
 
   
 
 
 
Liabilities:
                    
Warrant Liabilities—Public Warrants
  $15,318,000   $
15,318,000
   —     
—
 
 
Warrant Liabilities—Private Warrants
  $8,873,600    —      —     $8,873,600 
   
 
 
   
 
 
   
 
 
   
 
 
 
   $24,191,600   $
15,318,000
   —     $8,873,600 
   
 
 
   
 
 
   
 
 
   
 
 
 
The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2020, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.
 
   
Carrying
Value
   
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 – Money Market Fund
  $277,845,876   $277,845,876   $—     $—   
   
 
 
   
 
 
   
 
 
   
 
 
 
   
$
277,845,876   
$
277,845,876   
$
—     
$
—   
   
 
 
   
 
 
   
 
 
   
 
 
 
Liabilities:
                    
Warrant Liabilities—Public Warrants
  $23,460,000   $
23,460,000
    —      
—
 
 
 
Warrant Liabilities—Private Warrants
  $13,160,000    —      —     $13,160,000 
   
 
 
   
 
 
   
 
 
   
 
 
 
   $36,620,000   $
23,460,000
    —     $13,160,000 
   
 
 
   
 
 
   
 
 
   
 
 
Summary of fair value measurements inputs
The key inputs into the Black Scholes Option Pricing Model for the Private Warrants were as follows at initial measurement and each of the following balance sheet dates:
 
Input
  
December 31, 2020
 
 
March 31, 2021
 
Risk-free interest rate
  
 
0.47
% 
 
 
1.14
% 
Expected term (years)
  
 
5.00
 
 
 
5.00
 
Expected volatility
  
 
22.0
% 
 
 
17.0
% 
Dividend yield
  
 
0.0
% 
 
 
0.0
% 
Exercise price
  
$
11.50
 
 
$
11.50
 
Asset Price
  
$
10.48
 
 
$
10.00
 
Summary of Change in Fair Value of Warrant Liabilities
The following table presents the changes in the fair value of warrant liabilities:
 
 
  
Private Warrants
 
  
Public Warrants
 
  
Warrant Liabilities
 
Fair value as of December 31, 2020
  
$
13,160,000
 
  
$
23,460,000
 
  
$
36,620,000
 
Change in valuation inputs or other assumptions
  
 
(4,286,400
) 
  
 
(8,142,000
) 
  
 
(12,428,400
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
Fair value as of March 31, 2021
  
$
8,873,600
 
  
$
15,318,000
 
  
$
24,191,600