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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

    

September 30, 2021

    

Level 1

    

Level 2

    

Level 3

Assets:

 

  

 

  

 

  

 

  

U.S. Money Market held in Trust Account

$

265,150,291

$

265,150,291

$

$

$

265,150,291

$

265,150,291

$

$

Liabilities:

 

  

 

  

 

  

 

  

Public Warrants

$

6,196,164

$

6,196,164

$

$

Private Placement Warrants

3,866,621

3,866,621

$

10,062,785

$

6,196,164

$

$

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:

    

September 30,

    

August 2,

2021

2021

Stock price

$

10.00

$

10.00

Strike price

$

11.50

$

11.50

Term (in years)

 

5.59

 

5.84

Volatility

 

10.9

%  

 

24.0

Risk-free rate

 

1.07

%  

 

1.01

Dividend yield

 

0

%  

 

0

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

Fair value at March 11, 2021 (inception)

    

$

Initial fair value

 

23,462,850

Public Warrants reclassified to level 1(1)

 

(6,196,164)

Change in fair value

 

(13,400,065)

Fair Value at September 30, 2021

$

3,866,621

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