Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured on Recurring Basis

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.

	Fair Value Measured as of March 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Investments held in Trust Account - U.S. Treasury Securities(1)	$	345,000,000		-		-		345,000,000
Liabilities:
Derivative warrant liabilities - Public warrants		31,567,500		-		-		31,567,500
Derivative warrant liabilities - Private placement warrants		-		-		20,889,000		20,889,000
Total fair value	$	376,567,500	$	-	$	20,889,000	$	397,456,500

 
(1)Excludes approximately $79,316 of investments held in cash and cash equivalents within the Trust Account.

Schedule of Change in Fair Value of Derivative Warrant Liabilities

The change in the fair value of the derivative warrant liabilities for three months ended March 31, 2021 is summarized as follows:

Derivative warrant liabilities as of January 1, 2021	$	42,283,500
Change in fair value of derivative warrant liabilities		10,173,000
Derivative warrant liabilities as of March 31, 2021	$	52,456,500

Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs

The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates:

	As of March 31, 2021
Stock Price		$10.46
Option term (in years)		5.00
Volatility		25	%
Risk-free interest rate		0.92	%
Dividend yield		0	%
Business combination probability		100	%