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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule 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 March 31, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

		March 31, 2022				Quoted Prices In Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Assets:
		$	225,031,251			$	225,031,251			$	—			$	—
Liabilities:
Warrant Liability – Public Warrants		$	1,725,000			$	1,725,000				—				—
Warrant Liability – Private Placement Warrants			1,018,767				—				—			$	1,018,767
		$	2,743,767			$	1,725,000			$	—			$	1,018,767

		December 31, 2021				Quoted Prices In Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Assets:
		$	225,008,593			$	225,008,593			$	—			$	—
Liabilities:
Warrant Liability – Public Warrants		$	4,649,250			$	4,649,250				—				—
Warrant Liability – Private Placement Warrants			2,734,333				—				—				2,734,333
		$	7,383,583			$	4,649,250			$	—			$	2,734,333

Schedule of Key Inputs into the BSM Model for the Warrant Liability

The key inputs into the BSM model for the Private Placement Warrants were as follows:

Input		March 31, 2022				December 31, 2021
Expected term (years)			5.58				5.70
Expected volatility			4.00	%			10.70	%
Risk-free interest rate			2.41	%			1.32	%
Dividend yield			0.00	%			0.00	%

Summary of Changes in the Fair Value of the Warrant Liability

The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the period from January 28, 2021 (inception) through December 31, 2021 and March 31, 2022: 

		Warrant Liability
Fair value as of December 31, 2021		$	2,734,333
Change in fair value			(1,715,566	)
Fair value as of March 31, 2022		$	1,018,767

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ 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)
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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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- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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