Fair Value Measurements (Tables)

10 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of financial Asset measured at fair value on recurring basis

The gross holding gains and fair value of held-to-maturity securities at December 31, 2020 are as follows:

Held-To-Maturity	Level	Amortized Cost		Gross Holding Gain		Fair Value
U.S. Treasury Securities (Mature on 3/11/2021)	1	$	508,640,857	$	7,922	$	508,648,779

Summary of fair value measurement inputs and techniques

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants and Public Warrants were as follows at initial measurement:

Input	Initial Measurement (October 6, 2020 and October 16, 2020)
Risk-free interest rate		0.48	%
Expected term (years)		1.5
Expected volatility		40.0	%
Exercise price	$	11.50
Fair value of Units	$	9.94

Schedule of changes in the fair value of warrant liabilities

The following table presents the changes in the fair value of warrant liability: 

	Private Placement		Level		Public		Level		Warrant Liability
Fair value as of February 19, 2020 (inception)	$	—			$	—			$	—
Initial measurement on October 6, 2020		7,760,812		3		13,605,069		3		21,365,881
Initial measurement on October 16, 2020		382,019		3		809,218		3		1,191,237
Change in fair value of warrant liability		17,189,687		3		30,537,855		1		47,727,542
Fair value as of December 31, 2020	$	25,332,518			$	44,952,142			$	70,284,660

Summary of liabilities measured at fair value on a recurring basis

The following table presents the Company’s fair value hierarchy for liabilities measured at fair value on a recurring basis as of December 31, 2020:

	Level		Fair Value
Liabilities:
Warrant Liability – Public Warrants		1	$	25,332,518
Warrant Liability – Private Placement Warrants		3	$	44,952,142