FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

FAIR VALUE MEASUREMENTS [Abstract]

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:
Marketable securities held in Trust Account		1	$	287,556,761	$	—
Liabilities:
Warrant Liability – Public Warrants		1		6,325,000		—
Warrant Liability – Private Placement Warrants		3		4,546,667		—

Level 3 Fair Value Measurement Inputs

The key inputs into the Monte Carlo simulation as of March 15, 2021 and December 31, 2021 were as follows:

Input	March 15, 2021 (Initial Measurement)			December 31, 2021
Risk-free interest rate		1.06	%		1.27	%
Expected term (years)		6.00			5.21
Expected volatility		18.1	%		14.5	%
Exercise price		11.50			11.50
Fair value of Units		9.72			9.72

Changes in Fair Value of Warrant Liabilities

The following tables summarize the changes in the fair value of the Level 1 Public Warrants & Level 3 Private Warrants warrant liabilities:

	Public Warrants			Private Warrants			Warrant Liabilities
	Level 1			Level 3
Fair value as of January 1, 2021	$	—		$	—		$	—
Initial fair value as of March 15, 2021		8,050,000			5,993,334			14,043,334
Change in fair value		(1,725,000	)		(1,446,667	)		(3,171,667	)
Fair value as of December 31, 2021		6,325,000			4,546,667			10,871,667