FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 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

Assets and 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 December 31, 2021 and 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

Description	Level		December 31, 2021		December 31, 2020
Assets:
Investments held in Trust Account		1		207,171,108		—
Liabilities:
Warrant Liability – Public Warrants		1		5,421,160		14,704,023
Warrant Liability – Private Placement Warrants		3		3,222,938		9,186,354

Level 3 Fair Value Measurement Inputs

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

	As of December 31, 2021			At December 31, 2020
Stock price	$	9.80		$	10.35
Strike price	$	11.50		$	11.50
Volatility		13.0	%		10.0	%
Risk-free rate		1.27	%		0.46	%
Time until Business Combination occurring (years)		0.16			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:

Fair value as of August 20, 2020 (inception)	$	—
Initial measurement on October 23, 2020 (including overallotment)		12,199,657
Change in valuation inputs or other assumptions		11,690,720
Transfer out of level 3		(14,704,023	)
Fair value as of December 31, 2020	$	9,186,354
Change in valuation inputs or other assumptions		(5,963,416	)
Fair value as of December 31, 2021	$	3,222,938