XML 31 R20.htm IDEA: XBRL DOCUMENT v3.22.1
Recurring Fair Value Measurements (Tables)
10 Months Ended
Dec. 31, 2021
Recurring Fair Value Measurements  
Summary of assets and liabilities that were measured at fair value on a recurring basis

    

Level 1

    

Level 2

    

Level 3

Assets:

 

  

 

  

 

  

U.S. Money Market held in Trust Account

$

265,155,619

$

$

265,155,619

$

$

Liabilities:

 

  

 

  

 

  

Public Warrants

$

5,214,574

$

$

Private Placement Warrants

$

$

$

3,265,830

$

5,214,574

$

$

3,265,830

Summary of quantitative information regarding Level 3 fair value measurements

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

    

December 31,

    

August 2,

2021

2021

Share price

$

9.69

$

10.00

Strike price

$

11.50

$

11.50

Term (in years)

 

5.50

 

5.84

Volatility

 

10.7

%  

 

24.0

Risk-free rate

 

1.30

%  

 

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

 

23,422,455

Public Warrants reclassified to level 1(1)

 

(6,196,163)

Change in fair value

 

(13,960,462)

Fair Value at December 31, 2021

$

3,265,830

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