Recurring Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	Total		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	$	277,866,660	$	277,866,660	$	—	$	—
	$	277,866,660	$	277,866,660	$	—	$	—
Liabilities:
Warrant Liabilities—Public Warrants	$	10,902,000	$	10,902,000	$	—		—
Warrant Liabilities—Private Warrants		5,948,320		—		—	$	5,948,320
	$	16,850,320	$	10,902,000	$	—	$	5,948,320

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.

	Total		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	$	—	$	—
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 each of the following balance sheet dates:

Input	December 31, 2020			September 30, 2021
Risk-free interest rate		0.47	%		1.04	%
Expected term (years)		5.00			5.00
Expected volatility		22.0	%		13.0	%
Dividend yield		0.0	%		0.0	%
Exercise price	$	11.50		$	11.50
Asset Price	$	10.48		$	9.97

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		(7,211,680	)		(12,558,000	)		(19,769,680	)
Fair value as of September 30, 2021	$	5,948,320		$	10,902,000		$	16,850,320