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FAIR VALUE MEASUREMENTS (Tables) | 4 Months Ended
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Dec. 31, 2020
FAIR VALUE MEASUREMENTS |
Summary of gross holding losses and fair value of held-to-maturity securities |
|  | Asset |  | Level |  | Fair Value
December 31, 2020 |  | U.S. Treasury Securities Money Market Fund |  | 1 |  | 232,301,973
Schedule of fair value hierarchy for liabilities measured at fair value on a recurring basis |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Warrant liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Public Warrants |  | $ | 18,975,000 |  | $ | — |  | $ | — |  | $ | 18,975,000
Private Placement Warrants |  |  | — |  |  | — |  |  | 14,685,000 |  |  | 14,685,000
Total warrant liabilities |  | $ | 18,975,000 |  | $ | 0 |  | $ | 14,685,000 |  | $ | 33,660,000
Schedule of quantitative information regarding Level 3 fair value measurements inputs |
|  |  |  |  |  |  |  | As of December 31, |
|  | At issuance |  | 2020 |
Exercise price |  | $ | 11.50 |  | $ | 11.50 |
IPO price |  | $ | 10.00 |  | $ | 10.00 |
Implied stock price range (or underlying asset price at December 31, 2020) |  | $ | 9.35 | - | $ | 9.66 |  | $ | 10.12 |
Volatility |  |  | 14% | - | 23% |  |  | 21% |
Term |  |  | 5.75 |  |  | 5.70 |
Risk-free rate |  |  | 0.46% |  |  | 0.46% |
Dividend yield |  |  | 0.0% |  |  | 0.0% |
Schedule of changes in fair value of warrant liabilities |
|  | Private |  |  |  |  | Warrant
|  | Placement |  | Public |  | Liabilities
Initial measurement on November 27, 2020 |  | $ | 9,879,000 |  | $ | 12,650,000 |  | $ | 22,529,000
Change in valuation inputs or other assumptions(1) |  |  | 4,806,000 |  |  | 6,325,000 |  |  | 11,131,000
Fair value as of December 31, 2020 |  | $ | 14,685,000 |  | $ | 18,975,000 |  | $ | 33,660,000
| (1) |  | Due to the use of quoted prices in an active market (Level 1) to measure the fair value of the Public Warrants, subsequent to initial measurement, the Company had transfers out of Level 3 totaling $6,325,000 during the period from November 27, 2020 through December 31, 2020.

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 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 (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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