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FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2021
FAIR VALUE MEASUREMENTS  
Schedule of assets and liabilities measured at fair value

    

    

September 30, 

Description

Level

 

2021

Assets:

  

 

  

Marketable securities held in Trust Account

1

$

230,007,326

Liabilities:

 

Warrant- Forward Purchase Warrants

3

$

360,287

Warrant- Private Placement Warrants

3

$

3,246,269

Warrant- Public Warrants

1

$

5,646,500

Schedule of change in the fair value of the warrant liabilities

Fair Value

Measurement

Using Level 3

    

Inputs Total

Balance, December 31, 2020

$

Derivative liabilities recorded on issuance of derivative warrants

15,411,375

Transfer to Level 1

(5,646,500)

Change in fair value of derivative liabilities

(5,802,479)

Balance, September 30, 2021

$

3,606,556

Schedule of quantitative information regarding fair value measurements inputs

    

May 18, 2021

    

September 30, 2021

Risk-free interest rate

1.06

%

0.08 – 1.12

%

Expected life of grants

6.0 years

5.82 years

Expected volatility of underlying stock

10.0 – 18.3

%

9.0

%

Dividends

0

%

0

%