XML 33 R20.htm IDEA: XBRL DOCUMENT v3.22.1
Recurring Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Recurring Fair Value Measurements [Abstract]  
Assets and Liabilities Measured at Fair Value on 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 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
                 
Investments held in Trust Account
 
$
234,603,156
   
$
   
$
 
Liabilities
                       
Public Warrants
 
$
5,980,000
   
$
   
$
 
Private Warrants
 
$
   
$
   
$
5,824,000
 
Key Inputs into Binomial Lattice Model
The key inputs into the binomial lattice model were as follows at December 31, 2021:
 
Input
 
December 31, 2021
 
Risk-free interest rate
   
1.33
%
Expected term to initial Business Combination (years)
   
0.84
 
Expected volatility
   
8.6
%
Common stock price
 
$
9.87
 
Dividend yield
   
0.0
%
Changes in Fair Value of Warrants
The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the Company’s warrants classified as Level 3:

Fair value at February 23, 2021 – public and private warrants
 
$
 
Initial fair value of the warrants
   
16,571,000
 
Public Warrants reclassified to level 1(1)
   
(5,980,000
)
Change in fair value
   
(4,767,000
)
Fair Value at December 31, 2021 – private warrants
 
$
5,824,000