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Recurring Fair Value Measurements (Tables)
7 Months Ended
Sep. 30, 2021
Recurring Fair Value Measurements  
Summary of assets and liabilities that were measured at fair value on a recurring basis

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September 30, 2021

    

Level 1

    

Level 2

    

Level 3

Assets:

 

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U.S. Money Market held in Trust Account

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$

265,150,291

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$

265,150,291

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$

—

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$

—

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$

265,150,291

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$

265,150,291

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$

—

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$

—

Liabilities:

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Public Warrants

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$

6,196,164

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$

6,196,164

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$

—

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$

—

Private Placement Warrants

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3,866,621

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—

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—

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3,866,621

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$

10,062,785

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$

6,196,164

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$

—

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$

3,866,621

Summary of quantitative information regarding Level 3 fair value measurements

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

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September 30,

    

August 2,

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2021

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2021

Stock price

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$

10.00

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$

10.00

Strike price

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$

11.50

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$

11.50

Term (in years)

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5.59

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5.84

Volatility

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10.9

%  

 

24.0

Risk-free rate

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1.07

%  

 

1.01

Dividend yield

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0

%  

 

0

Summary of reconciliation of changes in fair value liability of the beginning and ending balances for the Company's Warrants

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Fair value at March 11, 2021 (inception)

    

$

—

Initial fair value

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23,462,850

Public Warrants reclassified to level 1(1)

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(6,196,164)

Change in fair value

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(13,400,065)

Fair Value at September 30, 2021

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$

3,866,621

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