Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value 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:

	June 30,		Quoted Prices In Active Markets		Significant Other Observable Inputs		Significant Other Unobservable Inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Description
Assets:
Cash held in Trust Account	$	275,008,663	$	275,008,663	$	—	$	—
Liabilities:
Warrant liabilities		13,610,225		—		—		13,610,225

Level 3 Fair Value Measurement Inputs

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

	June 30, 2021			March 26, 2021 (Initial Measurement)
Share price	$	9.70		$	9.56
Strike price	$	11.50		$	11.50
Term (in years)		5.88			6.04
Volatility		19.7	%		24.4	%
Risk-free rate		1.02	%		1.09	%
Dividend yield		0.0	%		0.0	%

Change in Fair Value of Warrant Liabilities

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

	Public			Private Placement			Redeemable (over-allotment)			Private Placement (over-allotment)			Warrant Liabilities
Fair value as of January 1, 2021	$	—		$	—		$	—		$	—		$	—
Fair value as of March 26, 2021 - Initial measurement		11,061,035			6,203,050			1,100,488			441,302			18,805,875
Change in valuation inputs or other assumptions		(3,061,035	)		(1,713,508	)		(300,486	)		(120,621	)		(5,195,650	)
Fair value as of June 30, 2021	$	8,000,000		$	4,489,542		$	800,002		$	320,681		$	13,610,225