Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Measurement

Schedule of option model for the Private Placement Warrants and Public Warrants

The key inputs into the option model for the Private Placement Warrants and Public Warrants were as follows for the period indicated:

	As of
	February 23, 2021		March 31, 2021
Implied volatility		20%		20%
Risk-free interest rate		0.8%		1.16%
Warrant exercise price	$	11.50	$	11.50
Expected term		6		5.9

Schedule of change in the fair value of the warrant liabilities

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

			Private		Total warrant
	Public warrants		warrants		liabilities
Fair value when issued (February 23, 2021)	$	11,247,000	$	9,671,333	$	20,918,333
Change in fair value from inception	$	(1,035,000)	$	(890,000)	$	(1,925,000)
Fair value at March 31, 2021	$	10,212,000	$	8,781,333	$	18,993,333

Schedule of financial assets that are measured at fair value on a recurring basis

			Significant	Significant
			Other	Other
		Quoted Prices in	Observable	Unobservable
	March 31,	Active Markets	Inputs	Inputs
Description	2021	(Level 1)	(Level 2)	(Level 3)
Assets:
Cash and cash equivalent held in Trust Account	345,002,017	345,002,017	—	—
Liabilities:
Derivative liability - public warrants	10,212,000	—	10,212,000	—
Derivative liability - private warrants	8,781,333	—	8,781,333	—