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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of assets that are measured at fair value on a recurring basis
Description   March 31,
2021
   
   Quoted Prices
in Active
Markets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Other
Unobservable
Inputs
(Level 3)
 
Assets:                
Cash and marketable securities held in Trust Account  $175,073,580   $175,073,580   $   —   $ 
                     
Liabilities:                    
Warrant Liability – Public Warrants  $

9,100,000

   $   $   $9,100,000 
                     
Warrant Liability – Private Placement Warrants  $6,334,500   $   $   $6,334,500 
Description  December 31,
2020
   Quoted Prices
in Active
Markets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Other
Unobservable
Inputs
(Level 3)
 
Assets:                
Cash and marketable securities held in Trust Account  $175,039,930   $175,039,930   $-     $-   
                     
Liabilities:                    
Warrant Liability – Public Warrants  $8,925,000   $-     $-     $8,925,000 
                     
Warrant Liability – Private Placement Warrants  $6,273,000   $-     $-     $6,273,000 
Schedule of quantitative information regarding Level 3 fair value measurements
   As of March 31, 2021   As of
December 31,
2020
 
Stock price  $9.70   $9.49 
Strike price  $11.50   $11.50 
Term (in years)   5.0    5.0 
Volatility   22.99%   25.00%
Risk-free rate   0.07%   0.54%
Dividend yield   0.00%   0.00%
Probability of completing a Business Combination   70.00%   70.00%
Schedule of changes in the fair value of warrant liabilities
   Private
Placement
   Public   Warrant
Liabilities
 
             
Fair value as of March 18, 2020 (inception)  $   $   $ 
Initial measurement on September 30, 2020(1)   6,027,000    8,837,500    14,864,500 
Change in fair value recognized in earnings   246,000    87,500    333,500 
Fair value as of December 31, 2020   6,273,000    8,925,000    15,198,000 
Change in fair value recognized in earnings   61,500    175,000    236,500 
Fair value as of March 31, 2021  $6,334,500   $9,100,000   $15,434,500 

(1) There was no measurable difference in fair value between the date of our Initial Public Offering on September 24, 2020 and September 30, 2020.