FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description	Level		June 30, 2021
Assets:
Investments held in Trust Account – U.S. Treasury Securities Money Market Fund		1	$	241,503,509
Liabilities
Warrant Liability – Public Warrants		1	$	6,762,000
Warrant Liability – Private Warrants		3	$	6,505,844

Level 3 Fair Value Measurements

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

	January 29, 2021 (initial measurement)			June 30, 2021
Risk-free interest rate		0.62	%		1.00	%
Expected term (years)		6.00			5.79
Expected volatility		10.0	%		10.0	%
Exercise price	$	11.50		$	11.50
Stock Price	$	10.00		$	9.87
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			Public			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		(3,784,689	)		(3,719,100	)		(7,503,789	)
Fair value as of June 30, 2021	$	6,505,844		$	6,762,000		$	13,267,844