FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Dec. 31, 2020

FAIR VALUE MEASUREMENTS

Schedule of company's assets and liabilities that are measured at fair value on a recurring basis

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

	Fair Value Measured as of December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Investments held in Trust Account	$	414,020,525	$	—	$	—	$	414,020,525
Liabilities:
Derivative liabilities (Restated)	$	—	$	—	$	40,532,280	$	40,532,280

Schedule of quantitative information regarding Level 3 fair value measurements inputs

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

	As of			As of
	December 15,			December 31,
	2020			2020
Share price	$	9.81		$	10.02
Exercise price	$	11.50		$	11.50
Term (in years)		6.00			6.00
Volatility		20.50	%		21.00	%
Risk-free interest rate		0.51	%		0.50	%
Expected dividends		0.00	%		0.00	%

Schedule of change in the fair value of the derivative liabilities

A reconciliation of the beginning and ending balances of the derivative assets and liabilities is summarized below:

Beginning of period	$	—
Acquisition date fair value of derivative liabilities:
Public warrants issued in the initial public offering		19,458,000
Private placement warrants issued in connection with the initial public offering (1)		10,415,200
Forward Purchase Agreement liability (2)		4,045,920
Total acquisition date fair value of derivative liabilities		33,919,120
Change in fair value of warrant liabilities - Public		1,932,000
Change in fair value of warrant liabilities - Private		1,034,130
Change in fair value of forward purchase agreement		3,647,030
End of period	$	40,532,280

The change in the fair value of derivative liabilities measured using Level 3 inputs for the period from September 28, 2020 (inception) through December 31, 2020 is summarized as follows:

Level 3 derivative liabilities at December 15, 2020
Issuance of Public, Private Warrants	$	29,873,200
Change in fair value of derivative liabilities		10,659,080
Level 3 derivative liabilities at December 31, 2020	$	40,532,280