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Fair Value Measurements (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Fair Value Measurements and Hierarchy    
Schedule of Company's assets that are measured at fair value on a recurring basis

September 30, 2021

    

Quoted Prices in

    

Significant Other

    

Significant Other

Active Markets

Observable Inputs

Unobservable Inputs

Description

(Level 1)

(Level 2)

(Level 3)

Assets

Investments held in Trust Account

 

$

230,012,623

 

$

 

$

Liabilities

Derivative warrant liabilities - Public Warrants

$

9,257,500

$

$

Derivative warrant liabilities - Private Warrants

$

$

$

6,010,670

December 31, 2020

    

Quoted Prices in

    

Significant Other

    

Significant Other

Active Markets

Observable Inputs

Unobservable Inputs

Description

(Level 1)

(Level 2)

(Level 3)

Assets

 

  

 

  

 

  

Assets held in Trust Account:

 

  

 

  

 

  

U.S. Treasury securities

$

230,253,395

$

$

Cash equivalents - money market funds

 

754

 

 

$

230,254,149

$

$

Liabilities

 

  

 

  

 

  

Derivative warrant liabilities - Public Warrants

$

11,212,500

$

$

Derivative warrant liabilities - Private Warrants

$

$

$

7,578,670

    

Quoted Prices in

    

Significant Other

    

Significant Other

Active Markets

Observable Inputs

Unobservable Inputs

Description

(Level 1)

(Level 2)

(Level 3)

Assets

Assets held in Trust Account:

 

  

 

  

 

  

U.S. Treasury securities

$

230,253,395

$

$

Cash equivalents - money market funds

754

$

230,254,149

$

$

Liabilities

Derivative warrant liabilities -Public Warrants

$

11,212,500

$

$

Derivative warrant liabilities -Private Warrants

$

$

$

7,578,670

Schedule of quantitative information regarding Level 3 fair value measurements inputs

    

As of September 30, 2021

    

As of December 31, 2020

 

Stock Price

$

9.94

 

$

10.80

Volatility

 

22.8

%  

24.0

%

Expected life of the options to convert

 

5.13

 

5.75

Risk-free rate

 

1.00

%  

0.47

%

Dividend yield

 

0.0

%  

0.0

%

    

As of March 13, 2020

    

As of December 31, 2020

 

Stock Price

$

9.71

$

10.80

Volatility

 

18.2

%  

 

24.0

%

Expected life of the options to convert

 

6.55

 

5.75

Risk-free rate

 

0.85

%  

 

0.47

%

Dividend yield

 

0.0

%  

 

0.0

%

Schedule of change in the fair value of the warrant liabilities

Level 3 - Derivative warrant liabilities at December 31, 2020

    

$

7,578,670

Change in fair value of derivative warrant liabilities

 

(2,426,670)

Level 3 - Derivative warrant liabilities at March 31, 2021

$

5,152,000

Change in fair value of derivative warrant liabilities

1,306,670

Level 3 - Derivative warrant liabilities at June 30, 2021

$

6,458,670

Change in fair value of derivative warrant liabilities

$

(448,000)

Level 3 - Derivative warrant liabilities at September 30, 2021

$

6,010,670

Level 3 derivative warrant liabilities as of January 1, 2020

    

$

Issuance of Public and Private Warrants

 

11,207,500

Transfer of Public Warrants to Level 1

 

(6,957,500)

Change in fair value of derivative warrant liabilities

 

3,328,670

Level 3 derivative warrant liabilities as of December 31, 2020

$

7,578,670