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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of change in fair value of warrant liabilities

Description		Level		June 30, 2021
Assets:
Investments held in Trust Account – U.S. Fixed Income Securities		1		$	253,019,504

Schedule of liabilities measured at fair value on recurring basis

Description		Level		June 30, 2021
Liabilities:
Warrant Liability – Public Warrants		1		$	6,831,000
Warrant Liability – Private Placement Warrants		3		$	3,812,400

Schedule of key inputs into binomial lattice model for Warrants

Input		February 17, 2021 (Initial Measurement)				June 30, 2021
Market price of public stock		$	9.70			$	9.70
Risk-free rate			0.64	%			0.89	%
Dividend Yield			0.00	%			0.00	%
Volatility			15.8	%			14.9	%
Exercise price		$	11.50			$	11.50
Effective expiration date			7/2/26				7/2/26

Schedule of changes in fair value of warrant liabilities

		Private Placement				Public				Warrant Liabilities
Fair value as of January 1, 2021		$	—			$	—			$	—
Initial measurement on February 17, 2021			4,236,000				7,590,000				11,826,000
Change in fair value			(1,364,933	)			(2,445,667	)			(3,810,600	)
Fair value as of March 31, 2021		$	2,871,067			$	5,144,333			$	8,015,400
Change in fair value			941,333				1,686,667				2,628,000
Transfer to Level 1			—				(6,831,000	)			(6,831,000	)
Fair value as of June 30, 2021			3,812,400				—				3,812,400

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Tabular disclosure of change in fair value of warrant liabilities.

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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)
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Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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-SubTopic 10
-Section 50
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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