XML 33 R21.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Measurements [Abstract]  
Schedule of assets and liabilities that are measured at fair value on a recurring basis
Description  Level   December 31,
2021
 
Assets:        
Investments held in Trust Account – U.S. Treasury Fund   1   $253,027,240 

 

Description  Level   December 31,
2021
 
Liabilities:        
Warrant Liability – Public Warrants   1   $6,493,666 
Warrant Liability – Private Placement Warrants   2   $3,648,976 

 

Schedule of inputs to value the warrants under the binomial lattice valuation model
    February 17,
2021
 
      
Risk-free interest rate    0.64%
Expected term (years)    5.5 
Expected volatility    15.80%
Exercise Price   $11.50 
Implied Fair Value of Class A Common Stock   $9.72 

 

Schedule of changes in fair value of warrant liability
   Private
Placement
   Public   Warrant
Liabilities
 
Fair value as of January 1, 2021  $
   $
   $
 
Initial measurement on February 17, 2021   4,236,000    7,590,000    11,826,000 
Change in fair value   (1,647,333)   (759,000)   (2,406,333)
Transfer to Level 1   
    (6,831,000)   (6,831,000)
Transfer to Level 2   (2,588,667)   
    (2,588,667)
Fair value as of December 31, 2021  $