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Fair Value of Financial Instruments (Tables)
6 Months Ended 11 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2020
Fair Value of Financial Instruments (Tables) [Line Items]      
Schedule of fair value on a recurring basis
Description  Level   June 30,
2021
   December 31,
2020
 
Assets:            
Marketable securities held in Trust Account   1   $229,788,742   $229,884,479 
                
Liabilities:               
Warrant Liability – Private Placement Warrants   3   $6,605,462   $630,224 
Convertible Promissory Notes – Related Party   3    480,400    
—
 

 

Description  Level  December 31,
2020
 
Assets:        
Cash and marketable securities held in Trust Account  1  $229,884,479 
         
Liabilities:        
Warrant Liability – Private Placement Warrants  3  $630,224 

 

 
Schedule of model for the private placement warrants
Input  June 30,
2021
   December 31,
2020
 
Risk-free interest rate   0.83%   0.35%
Trading days per year   252    252 
Expected volatility   87.6%   17.4%
Exercise price  $11.50   $11.50 
Stock Price  $15.58   $10.00 

 

   June 30,
2021
 
Risk-free interest rate  $0.83%
Trading days per year  $252 
Expected volatility   87.6%
Exercise price  $11.50 
Stock Price  $15.58 
Probability of transaction   90.0%

 

Input  July 24,
2020
(Initial Measurement)
   September 30,
2020
   December 31,
2020
 
Risk-free interest rate   0.34%   0.34%   0.34%
Trading days per year   252    252    252 
Expected volatility   27.0%   27.0%   27.0%
Exercise price  $11.50   $11.50   $11.50 
Stock Price  $10.00   $10.00   $10.00 

 

 
Schedule of changes in the fair value of warrant liabilities
   Private
Placement
Warrants
 
Fair value as of January 1, 2021  $630,224 
Change in valuation inputs or other assumptions   5,975,238 
Fair value as of June 30, 2021  $6,605,462 

 

   Convertible
Promissory
Note
 
Fair value as of January 1, 2021  $
—
 
Proceeds received through Convertible Promissory Note   200,000 
Change in valuation inputs or other assumptions   280,400 
Fair value as of June 30, 2021  $480,400 
   Warrant
Liability
 
Fair value as of February 11, 2020 (inception)  $
—
 
Initial measurement on July 24, 2020   154,583 
Change in valuation inputs or other assumptions   475,641 
Fair value as of December 31, 2020  $630,224 

 

 
FF Intelligent Mobility Global Holdings Ltd [Member]      
Fair Value of Financial Instruments (Tables) [Line Items]      
Schedule of financial assets and liabilities measured on recurring basis
   June 30, 2021 
   Level 1   Level 2   Level 3 
Related party notes payable  $
—
   $
—
   $21,769 
Notes payable   
—
    
—
    213,504 
Warrant liabilities   
—
    
—
    7,880 

 

   December 31, 2020 
   Level 1   Level 2   Level 3 
Related party notes payable  $
—
   $
—
   $21,627 
Notes payable   
—
    
—
    71,064 
The9 Conditional Obligation   
—
    
—
    1,128 

 

 
   December 31, 2020 
   Level 1   Level 2   Level 3 
Related party notes payable  $
—
   $
—
   $21,627 
Notes payable   
—
    
—
    71,064 
The9 Conditional Obligation   
—
    
—
    1,128 

 

   December 31, 2019 
   Level 1   Level 2   Level 3 
Related party notes payable  $
—
   $
—
   $21,522 
Notes payable   
—
    
—
    32,222 
The9 Conditional Obligation   
—
    
—
    5,000 

 

Summary of activity for level 3 fair value measurements
  

Related

Party Notes

Payable at

Fair Value

  

Notes

Payable at

Fair Value

  

The9

Conditional

Obligation

  

Warrant

Liabilities

 
Balance as of December 31, 2020  $21,627   $71,064   $1,128   $— 
Proceeds, net of original issuance discount   
—
    111,641    
—
    
—
 
Consent fees   
—
    1,334    
—
    
—
 
Original issue discount (1)   
—
    9,060    
—
    
—
 
Issue costs paid by lender   
—
    1,900    
—
    
—
 
Conversion to equity   
—
    
—
    (2,863)   
—
 
Proceeds allocated to warrants   
—
    (5,125)   
—
    
—
 
Recognition of warrant liability   
—
    
—
    
—
    5,000 
Changes in fair value   142    23,630    1,735    2,880 
Balance as of June 30, 2021  $21,769   $213,504   $
—
   $7,880 

 

 
   Related
Party Notes
Payable at
Fair Value
   Notes
Payable at
Fair Value
   Put
Option
   The9
Conditional
Obligation
 
Balance as of December 31, 2018  $
—
   $
—
   $43,239   $
—
 
Proceeds   18,112    42,117    
—
    5,000 
Changes in fair value   3,410    11,773    
—
    
—
 
Settlements/expiration   
—
    (21,668)   (43,239)   
—
 
Balance as of December 31, 2019   21,522    32,222    
—
    5,000 
Proceeds   
—
    30,000    
—
    
—
 
Changes in fair value   105    8,843    
—
    (3,872)
Balance as of December 31, 2020  $21,627   $71,065   $
—
   $1,128