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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Information about Assets and Liabilities that are Measured at Fair Value on a Recurring Basis and Fair Value Hierarchy of Valuation Inputs Utilized

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description		Level		September 30, 2022				Level	December 31, 2021
Assets:
Marketable securities held in Trust Account		1		$	98,260,526			1	$	345,048,888
Liabilities:
Warrant Liability – Public Warrants		1		$	2,415,000			1	$	9,177,000
Warrant Liability – Private Placement Warrants		2		$	1,246,000			2	$	4,734,800
Forward Purchase Agreement Liability		3		$	1,000,000			3	$	1,600,000

Schedule of Reconciliation of Level 3 Investments

The following table presents the rollforward for the Level 3 Investments as of September 30, 2022 and 2021:

Level 3 Investments liabilities at December 31, 2021		$	1,600,000
Change in fair value of forward purchase agreement			(600,000	)
Level 3 Investments liabilities at September 30, 2022		$	1,000,000
Level 3 Investments liabilities at December 31, 2020		$	13,046,000
Change in fair value of of private warrants			(4,450,890	)
Transfer from level 3 to level 2			(5,695,110	)
Change in fair value of forward purchase agreement			(2,300,000	)
Level 3 Investments liabilities at September 30, 2021		$	600,000

Summary of Changes in Fair Value of Warrant Liabilities and Forward Purchase Agreement Liability

The following table presents the changes in the fair value of warrant liabilities:

​		Private Placement				Public				Warrant Liabilities
Fair value as of January 1, 2022		$	4,734,800			$	9,177,000			$	13,911,800
Change in valuation inputs or other assumptions		$	(3,488,800	)		$	(6,762,000	)		$	(10,250,800	)
Fair value as of September 30, 2022		$	1,246,000			$	2,415,000			$	3,661,000
Fair value as of January 1, 2021		$	10,146,000			$	19,665,000			$	29,811,000
Change in valuation inputs or other assumptions		$	(4,450,890	)		$	(8,626,725	)		$	(13,077,615	)
Fair value as of September 30, 2021		$	5,695,110			$	11,038,275			$	16,733,385

The following table presents the changes in the fair value of forward purchase agreement liability:

Fair value as of December 31, 2021		$	1,600,000
Change in fair value			(1,550,000	)
Fair value as of March 31, 2022		$	50,000
Change in fair value			1,070,000
Fair value as of June 30, 2022		$	1,120,000
Change in fair value			(120,000	)
Fair value as of September 30, 2022		$	1,000,000
Fair value as of December 31, 2020		$	2,900,000
Change in fair value			(2,400,000	)
Fair value as of March 31, 2021		$	500,000
Change in fair value			700,000
Fair value as of June 30, 2021		$	1,200,000
Change in fair value			(600,000	)
Fair value as of September 30, 2021		$	600,000

Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements of Forward Purchase Agreement

The following table presents the quantitative information regarding Level 3 fair value measurements of the forward purchase agreement:

		September 30, 2022				December 31, 2021
Unit price		$	10.10			$	10.31
Term to initial business combination (in years)			0.25				0.50
Risk-free rate			4.01	%			0.19	%
Dividend yield			0.0	%			0.0	%

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

+ References

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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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