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RECURRING FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2021
RECURRING FAIR VALUE MEASUREMENTS  
Schedule of Company's financial assets and liabilities that were accounted for at fair value on a recurring basis

    

Level 1

    

Level 2

    

Level 3

Assets:

 

  

 

  

 

  

Investments held in Trust Account - U.S. Treasury Securities (1)

$

276,079,687

$

$

Liabilities:

 

  

 

  

 

  

Private Placement Warrants

$

$

$

2,692,800

Public Warrants

$

4,692,000

$

$

(1)Matures January 6, 2022.
Schedule of key inputs

February 11, 2021

    

December 31, 

    

(initial

 

Input

2021

 

measurement date)

 

Risk-free interest rate

 

1.26

%

0.46

%

Expected term (years)

 

5.0

5.0

Expected volatility

 

10.50

%

23.0

%

Dividend rate

 

0.0

%

0.00

%

Exercise price

$

11.50

$

11.50

Schedule of changes in the fair value of warrant liabilities

Fair value at issuance February 11, 2021

    

$

18,028,933

Public Warrants reclassified to level 1(1)

 

(9,200,000)

Issuance of Private Placement Warrants upon conversion of Working Capital Loans

 

68,000

Change in fair value

 

(6,204,133)

Fair Value at December 31, 2021

 

2,692,800

(1)Assumes the Public Warrants were reclassified on June 30, 2021.