XML 74 R42.htm IDEA: XBRL DOCUMENT v3.21.2

Fair Value Measurements (Tables)

6 Months Ended

11 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Summary of Financial Assets that are Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.

As of June 30, 2021

Description						Quoted Prices in  Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Other Unobservable Inputs (Level 3)
Assets:
U. S. Treasury Securities						$	414,268,577					$	—					$	—
Liabilities:
Derivative warrant liabilities—Public Warrants						33,741,000						—						—
Derivative warrant liabilities—Private Warrants						—						—						16,756,400
Total fair value						$	448,009,577					$	—					$	16,756,400

As of December 31, 2020

Description						Quoted Prices in  Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Other Unobservable Inputs (Level 3)
Assets:
U. S. Treasury funds						$	414,209,593		(1)			$	—					$	—
Liabilities:
Derivative warrant liabilities—Public Warrants						35,386,050						—						—
Derivative warrant liabilities—Private Warrants						—						—						18,415,060
Total fair value						$	449,595,643					$	—					$	18,415,060

The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of December 31, 2020 by level within the fair value hierarchy:

Description						Quoted Prices in Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Other Unobservable Inputs (Level 3)
Investments held in Trust Account:
U.S. Treasury securities						$	414,209,593					$	—					$	—
Liabilities:
Derivative public warrant liabilities						$	35,386,050					$	—					$	—
Derivative private warrant liabilities						$	—					$	—					$	18,415,060

Schedule of Fair Value Assumptions

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

			June 30,  2021						December 31, 2020
Volatility			23.5		%				25.3		%
Stock price			$	9.95					$	10.26
Expected life of the options to convert			5.05						5.42
Risk-free rate			0.88		%				0.42		%
Dividend yield			0.0		%				0.0		%

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

						As of July 28, 2020						As of December 31, 2020
Volatility						16.1%						25.3%
Stock price						$9.59						$10.26
Expected life of the options to convert						6.00						5.42
Risk-free rate						0.35%						0.42%
Dividend yield						0.0%						0.0%

Schedule of Changes in Fair Value of Warrants

The change in the fair value of the derivative warrant liabilities measured using Level 3 inputs, for the three and six months ended June 30, 2021 is summarized as follows:

Warrant liabilities at January 1, 2021			$	18,415,060
Change in fair value of derivative warrant liabilities			$	(7,761,500)
Derivative warrant liabilities at March 31, 2021			$	10,653,560
Change in fair value of derivative warrant liabilities			6,102,840
Derivative warrant liabilities at June 30, 2021			$	16,756,400

The change in the fair value of the derivative warrant liabilities for the period from February 11, 2020 (inception) through December 31, 2020 is summarized as follows:

Derivative warrant liabilities at February 11, 2020 (inception)												$	—
Issuance of Public and Private Warrants												25,275,880
Change in fair value of derivative warrant liabilities												28,525,230
Derivative warrant liabilities at December 31, 2020												$	53,801,110

Marketwise, LLC

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated:

			June 30, 2021
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	101,503					$	—					$	—					$	101,503
Total assets			101,503						—						—						101,503
Liabilities:
Derivative liabilities, current			—						—						662						662
Derivative liabilities, noncurrent			—						—						1,955						1,955
Class B Units - related party			—						—						1,235,648						1,235,648
Total liabilities			$	—					$	—					$	1,238,265					$	1,238,265

			December 31, 2020
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	25,016					$	—					$	—					$	25,016
Total assets			25,016						—						—						25,016
Liabilities:
Derivative liabilities, noncurrent			—						—						4,343						4,343
Class B Units - related party			—						—						593,235						593,235
Total liabilities			$	—					$	—					$	597,578					$	597,578

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the date indicated:

			December 31, 2020
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	25,016					$	—					$	—					$	25,016
Total assets			25,016						—						—						25,016
Liabilities:
Derivative liabilities, noncurrent			—						—						4,343						4,343
Class B Units - related party			—						—						593,235						593,235
Total liabilities			$	—					$	—					$	597,578					$	597,578

			December 31, 2019
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	133,631					$	—					$	—					$	133,631
Total assets			133,631						—						—						133,631
Liabilities:
Derivative liabilities, noncurrent			—						—						1,274						1,274
Class B Units - related party			—						—						118,033						118,033
Total liabilities			$	—					$	—					$	119,307					$	119,307

Schedule of Changes in Fair Value of Liabilities

The following table summarizes the change in fair value of the derivative liabilities during the six months ended June 30, 2021 and 2020:

Balance at January 1, 2021			$	597,578
Change in fair value of derivative instruments			(1,726)
Incremental Class B Units			43,880
Change in fair value of Class B Units			598,533
Balance at June 30, 2021			$	1,238,265
Balance at January 1, 2020			$	119,307
Change in fair value of derivative instruments			997
Incremental Class B Units			11,258
Change in fair value of Class B Units			49,796
Balance at June 30, 2020			$	181,358

The following table summarizes the change in fair value of the derivative liabilities during the years ended December 31, 2018, 2019 and 2020:

Balance – January 1, 2018			$	104,504
Additions of derivative instruments at fair value			580
Change in fair value of derivative instruments			217
Redemptions of derivative instruments			(3,156)
Incremental Class B Units			5,343
Change in fair value of Class B Units			5,733
Balance – December 31, 2018			$	113,221
Change in fair value of derivative instruments			478
Incremental Class B Units			8,611
Change in fair value of Class B Units			(3,003)
Balance – December 31, 2019			$	119,307
Change in fair value of derivative instruments			3,069
Incremental Class B Units			18,745
Change in fair value of Class B Units			456,457
Balance – December 31, 2020			$	597,578

Schedule of Changes in Fair Value by Income Statement Location

The following table summarizes the change in fair value of the Class B Units by income statement line item during the three and six months ended June 30, 2021 and 2020:

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Cost of revenue			$	10,446					$	13,848					$	112,389					$	9,885
Sales and marketing			840						1,022						8,263						1,022
General and administrative			35,703						57,616						477,881						38,889
Total change in fair value of Class B Units			$	46,989					$	72,486					$	598,533					$	49,796

X

- Definition

Schedule Of Changes In Fair Value By Income Statement Location

+ References

No definition available.

+ Details

Name:	acnd_ScheduleOfChangesInFairValueByIncomeStatementLocationTableTextBlock
Namespace Prefix:	acnd_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

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

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

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 (c)
-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 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-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

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	dei_LegalEntityAxis=acnd_MarketwiseLLCMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: