FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2020

FAIR VALUE MEASUREMENTS [Abstract]

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

The following table presents information about the gross holding gains and fair value of held-to-maturity securities at December 31, 2020:

	Held-To-Maturity	Level		Amortized Cost		Gross Holding Gain			Fair Value
December 31, 2020	U.S. Treasury Securities (Matured on 3/11/2021)		1	$	312,507,938	$	(10,694	)	$	312,497,244

Assets and Liabilities Measured 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, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

	Level		December 31, 2020
Assets:
Marketable securities held in Trust Account		1	$	312,497,244
Liabilities:
Warrant Liability – Public Warrants		3	$	20,625,000
Warrant Liability – Private Placement Warrants		3	$	10,982,000

The Warrants were classified as Level 3 at the initial measurement date due to the use of unobservable inputs.

Warrant Liability – Public Warrants	3	$	15,156,250
Warrant Liability – Private Placement Warrants	3	$	8,075,000

Key Inputs for Private Placement Warrants and Public Warrants

The key inputs into the Black-Scholes and Monte Carlo simulation models, respectively, for the Private Placement Warrants and Public Warrants were as follows at initial measurement:

Input	December 11, 2020 (Initial Measurement)
Risk-free interest rate		0.57	%
Tine to maturity		6.50
Dividend yield		0.00	%
Expected volatility		17.50	%
Exercise price	$	11.50
Unit Price	$	9.51

The key inputs into the warrant valuation for the Public Warrants and the Private Placement Warrants were as follows at December 31, 2020:

Input	Public Warrants			Private Placement Warrants
Risk-free interest rate		0.57	%		0.57	%
Expected Term		6.45			6.45
Dividend yield		0.00	%		0.00	%
Expected volatility		17.50	%		17.50	%
Exercise price	$	11.50		$	11.50
Unit Price	$	10.36		$	10.36

Changes in Fair Value of Warrant Liabilities

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

	Private Placement		Public		Warrant Liabilities
Fair value as of October 5, 2020 (inception)	$	—	$	—	$	—
Initial measurement on December 11, 2020		8,075,000		15,156,250		23,231,250
Change in valuation of warrant liability		2,907,000		5,468,750		8,375,750
Fair value as of December 31, 2020	$	10,982,000	$	20,625,000	$	31,607,000