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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
The following table presents information about the Company’s financial assets and financial liabilities that are measured at fair value as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:

DescriptionQuoted Prices in Active Markets (Level 1)Significant Other Observable Inputs (Level 2)Significant Other Unobservable Inputs (Level 3)
As of June 30, 2022:
Assets, at fair value
Investments held in Trust Account:$1,000,489,927 $— $— 
Liabilities, at fair value
Public Warrants$4,606,000 $— $— 
Private Placement Warrants$— $— $3,532,234 
DescriptionQuoted Prices in Active Markets (Level 1)Significant Other Observable Inputs (Level 2)Significant Other Unobservable Inputs (Level 3)
As of December 31, 2021:
Assets, at fair value
Investments held in Trust Account:$1,000,284,779 $— $— 
Liabilities, at fair value
Public Warrants$17,822,000 $— $— 
Private Placement Warrants$— $— $13,882,522 
Fair Value Measurement Inputs and Valuation Techniques The fair value of the Private Placement Warrants was estimated using the following assumptions:
As of June 30, 2022
As of December 31, 2021
Exercise price$11.50 $11.50 
Share price$9.84 $9.74 
Term (in years)5.005.00
Volatility2.91 %15.00 %
Risk-free interest rate3.01 %1.26 %
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The changes in the fair value of the Level 3 warrant liabilities for the three and six months ended June 30, 2022 and 2021 are summarized as follows:

Warrant liabilities at December 31, 2021
$13,882,522 
Change in fair value recognized in earnings(7,564,154)
Warrant liabilities at March 31, 2022
6,318,368 
Change in fair value recognized in earnings(2,786,134)
Warrant liabilities at June 30, 2022
$3,532,234 
Warrant liabilities at December 31, 2020
$— 
Issuance of Public and Private Placement Warrants55,407,948 
Transfer of Public Warrants to Level 1(17,500,000)
Change in fair value recognized in earnings(24,367,413)
Warrant liabilities at March 31, 2021
13,540,535 
Change in fair value recognized in earnings6,249,024 
Warrant liabilities at June 30, 2021
$19,789,559