Fair Value Measurements (Tables)

4 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring 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, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

	Description Level		December 31, 2020
Assets:
Marketable securities held in Trust Account		1	$	345,009,370
Liabilities:
Warrant Liability- Public Warrants		1	$	24,667,500
Warrant Liability- Private Placement Warrants		3	$	12,727,000

Summary of Fair Value Measurements Inputs

The key inputs into the binomial lattice simulation model for the Public Warrants and Private Placement Warrants were as follows at December 22, 2020 (Initial Measurement) and December 31, 2020:

Input	December 22, 2020 (Initial Measurement)			December 31, 2020
Risk-free interest rate		0.42	%		0.41	%
Trading days per year		252			252
Expected volatility		19.9	%		22.9	%
Exercise price	$	11.50		$	11.50
Stock Price	$	9.53		$	9.68

Summary of Change in the Fair Value of Derivative Warrant Liabilities

The following table presents the changes in the fair value of warrant liabilities:

	Private Placement		Public		Warrant Liabilities
Fair value as of August 24, 2020 (inception)	$	—	$	—	$	—
Initial measurement on December 24, 2020		9,790,000		18,975,000		28,765,000
Change in valuation inputs or other assumptions		2,937,000		5,692,500		8,629,500
Fair value as of December 31, 2020	$	12,727,000	$	24,667,500	$	37,394,500