FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2021

FAIR VALUE MEASUREMENTS [Abstract]

Assets Measured on Recurring Basis

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description	Level		March 31, 2021
Assets:
Investments held in Trust Account – U.S. Treasury Securities Money Market Fund		1	$	241,500,000
Liabilities
Warrant Liability – Public Warrants		1	$	5,313,000
Warrant Liability – Private Warrants		3	$	5,054,000

Level 3 Fair Value Measurements

The following table provides quantitative information regarding Level 3 fair value measurements.

	January 29, 2021 (initial measurement)			March 31, 2021
Risk-free interest rate		0.62	%		1.14	%
Expected term (years)		6.00			5.91
Expected volatility as of IPO Date		10.0	%		10.0	%
Exercise price	$	11.50		$	11.50
Stock Price as of IPO Date	$	10.00		$	10.00
Dividend yield		0.0	%		0.0	%

Changes in Fair Value of Warrant Liabilities

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

	Private Placement			Level		Public			Level		Warrant Liability
Fair value as of January 29, 2021 (IPO)	$	10,290,533					10,481,100				$	20,771,633
Change in valuation inputs or other assumptions		(5,236,333	)		3		(5,168,100	)		1		(10,404,433	)
Fair value as of March 31, 2021	$	5,054,200					5,313,000				$	10,367,200