FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2021

FAIR VALUE MEASUREMENTS [Abstract]

Gross Holding Gains and Fair Value of Held-To-Maturity Securities

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
December 31, 2020	U.S. Treasury Securities (Matured on 2/18/2021)		1	$	207,127,900	$	5,527	$	207,133,427

Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

Description	Level	September 30, 2021		December 31, 2020
Assets:
Investments held in Trust Account	1	$	207,166,731	$	—
Liabilities:
Warrant Liability – Public Warrants	1	$	5,590,980	$	14,704,023
Warrant Liability – Private Placement Warrants	3	$	3,369,899	$	9,186,354

Level 3 Fair Value Measurement Inputs

The following table provides quantitative information regarding Level 3 fair value measurements:

	As of September 30, 2021			At December 31, 2020
Stock price	$	9.79		$	10.35
Strike price	$	11.50		$	11.50
Volatility		13.8	%		10.0	%
Risk-free rate		1.03	%		0.46	%
Time until Business Combination occurring (years)		0.28			0.66
Dividend yield		0.00	%		0.0	%

Changes in Fair Value of Warrant Liabilities

The following table presents the changes in the fair value of the derivative warrant liabilities measured using level 3 inputs:

	Private Placement
Fair value as of January 1, 2021	$	9,186,354
Change in valuation inputs or other assumptions		(5,816,455	)
Fair value as of September 30, 2021	$	3,369,899