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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

4 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of company's assets that are 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 at March 31, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description		Level				March 31, 2021				December 31, 2020
Assets:
Marketable securities held in Trust Account			1			$	92,026,912			$	91,997,501
Liabilities:
Warrant liability – Public Warrants			1			$	2,484,000			$	3,250,667
Warrant liability – Private Placement Warrants			3				117,180				153,347

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description		Level				December 31, 2020
Assets:
Marketable securities held in Trust Account			1			$	91,997,501
Liabilities:
Warrant Liability – Public Warrants			1				3,250,667
Warrant Liability – Private Placement Warrants			3				153,347

Summary of key Inputs into the Binomial Lattice Simulation Model for the Private Placement Warrants and Public Warrants

The key inputs into the binomial lattice simulation model for the Private Placement Warrants and Public Warrants were as follows at initial measurement:

Input		November 23, 2020 (Initial Measurement)				December 31, 2020
Risk-free interest rate			0.4	%			0.4	%
Expected term (years)5			5				5
Expected volatility			12.0	%			16	%
Exercise price		$	11.50			$	11.50
Fair value of Units		$	9.81			$	10.12

Summary of fair value of the warrant liabilities

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

		Private Placement				Public				Warrant Liabilities
Fair value as of January 1, 2021		$	153,347			$	3,250,667			$	3,404,014
Change in valuation inputs or other assumptions			(36,167	)			(766,667	)			(802,834	)
Fair value as of March 31, 2021		$	117,180			$	2,484,000			$	2,601,180

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

		Private Placement				Public				Warrant Liabilities
		$	—			$	—			$	—
Initial measurement on November 23, 2020			77,900				1,520,000				1,597,900
Change in valuation inputs or other assumptions			75,447				1,730,667				1,806,114
Fair value as of December 31, 2020		$	153,347			$	3,250,667			$	3,404,014

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

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 (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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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

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (b)
-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

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