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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of Assets Measured at Fair Value On a Recurring Basis | The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020 and 2019 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
|  | December 31, |  |  | December 31, |
Description |  | Level |  |  | 2020 |  |  | 2019 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities held in Trust Account |  |  | 1 |  |  | $ | 232,196,027 |  |  | $ | 231,214,831 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Public warrant liability |  |  | 1 |  |  | $ | 43,470,000 |  |  | $ | 10,350,000 |
Private placement warrant liability |  |  | 2 |  |  | $ | 24,644,000 |  |  | $ | 5,612,000 |
Schedule of Initial Measurement | The Company established the initial fair value for the Private Warrants in September 2019 using a Black-Scholes-Merton model. The key inputs into the Monte Carlo simulation model for the Public Warrants and Black-Scholes-Merton model for the Private Warrants were as follows at initial measurement:
|  | September 2019 (Initial Measurement) |
Exercise price |  | $ | 11.50 |
Fair value of Units |  | $ | 10.04 |
Contractual term (years) |  |  | 6 |
Volatility (annual) |  |  | 11.00 | %
Risk-free rate |  |  | 1.62 | %
Schedule of Changes in the Fair Value of Warrant Liabilities | The following table presents the changes in the fair value of warrant liabilities:
|  | Public warrant liability |  |  | Private placement warrant liability |  |  | Warrant liabilities |
Balance at May 28, 2019 (inception) |  | $ | - |  |  | $ | - |  |  | $ | - |
Initial measurement |  |  | 8,395,000 |  |  |  | 4,514,000 |  |  |  | 12,909,000 |
Changes in fair value |  |  | 1,955,000 |  |  |  | 1,098,000 |  |  |  | 3,053,000 |
Balance at December 31, 2019 |  |  | 10,350,000 |  |  |  | 5,612,000 |  |  |  | 15,962,000 |
Changes in fair value |  |  | 33,120,000 |  |  |  | 19,032,000 |  |  |  | 52,152,000 |
Balance at December 31, 2020 |  |  | 43,470,000 |  |  |  | 24,644,000 |  |  |  | 68,114,000 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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