XML 32 R19.htm IDEA: XBRL DOCUMENT v3.22.2.2
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2022
FAIR VALUE MEASUREMENTS  
Schedule of assets and liabilities measured at fair value

    

    

June 30, 

    

December 31, 

Description:

Level

2022

2021

Assets:

 

  

 

  

 

  

Investments held in Trust Account

 

1

$

230,422,246

 

230,040,937

Forward Purchase Asset

 

3

 

116,500

 

90,500

Liabilities:

 

  

 

  

 

  

Warrant liability - Private Placement Warrants

 

3

$

1,295,580

 

3,743,520

Warrant liability - Public Warrants

 

2

 

2,234,450

 

6,440,000

Schedule of change in the fair value of the warrant liabilities

    

Fair Value

Measurement

Using Level 3

    

Inputs Total

Balance, December 31, 2021

$

90,500

Change in fair value of forward purchase asset

 

26,000

Balance, net, June 30, 2022

$

116,500

Fair Value

Measurement

    

Using Level 3

Inputs Total

Balance, December 31, 2021

$

3,743,520

Change in fair value of derivative liabilities

(2,447,940)

Balance, net, June 30, 2022

$

1,295,580

    

Fair Value

Measurement

Using Level 3

Inputs Total

Balance, December 31, 2020

$

Derivative liabilities recorded on issuance of derivative warrants and forward purchase agreement

 

15,411,375

Change in fair value of derivative liabilities

 

(355,840)

Balance, net, June 30, 2021

$

15,055,535

Schedule of quantitative information regarding fair value measurements inputs

    

June 30, 2022

    

December 31, 2021

Risk-free interest rate

2.48-3.02

%

0.08-1.12

%

Expected life of grants

5.44

years

5.69

years

Expected volatility of underlying stock

2.1

%

10.2

%

Dividends

0

%

0

%