Recurring Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Recurring Fair Value Measurements

Summary of assets and liabilities that were measured at fair value on a recurring basis

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of September 30, 2022 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	Level 1		Level 2		Level 3
Assets:
U.S. Money Market held in Trust Account	$	266,693,693	$	—	$	—
	$	266,693,693	$	—	$	—
Liabilities:
Public Warrants	$	3,264,853	$	—	$	—
Private Placement Warrants		—		2,340,261		—
	$	3,264,853	$	2,340,261	$	—

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2021 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	Level 1		Level 2		Level 3
Assets:
U.S. Money Market held in Trust Account	$	265,155,619	$	—	$	—
	$	265,155,619	$	—	$	—
Liabilities:
Public Warrants	$	5,174,178	$	—	$	—
Private Placement Warrants		—		—		3,265,830
	$	5,174,178	$	—	$	3,265,830

Summary of quantitative information regarding Level 3 fair value measurements

	December 31,
	2021
Share price	$	9.69
Strike price	$	11.50
Term (in years)		5.50
Volatility		10.7	%
Risk-free rate		1.30	%
Dividend yield		0	%

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

Fair value at December 31, 2021	$	3,265,830
Change in fair value		155,234
Private Placement Warrants reclassified to level 2(1)		(3,421,064)
Fair Value at September 30, 2022	$	—

⁽¹⁾ Assumes the Private Warrants were reclassified on June 30, 2022