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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value on Recurring Basis

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

March 31, 2021		Quoted Prices in Active Markets				Significant Other Observable Inputs				Significant Other Unobservable Inputs
Description		(Level 1)				(Level 2)				(Level 3)
Assets:
U.S. Treasury securities		$	250,008,147			$	-			$	-
Liabilities:
Warrant liabilities – Public warrants		$	7,590,000			$	-			$	-
Warrant liabilities – Private warrants		$	-			$	-			$	4,283,530

December 31, 2020		Quoted Prices in Active Markets				Significant Other Observable Inputs				Significant Other Unobservable Inputs
Description		(Level 1)				(Level 2)				(Level 3)
Assets:
U.S. Treasury securities		$	250,004,454			$	-			$	-
Liabilities:
Warrant liabilities – Public warrants		$	13,625,000			$	-			$	-
Warrant liabilities – Private warrants		$	-			$	-			$	7,729,400

Summary of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs at Measurement Dates

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

		As of March 31, 2021				As of December 31 2020
Stock price		$	9.81			$	10.08
Volatility			10.0	%			10.0	%
Expected life of the options to convert			5.7				5.9
Risk-free rate			1.10	%			0.48	%
Dividend yield			-				-

Summary of Change in Fair Value of Derivative Warrant Liabilities

The change in the fair value of the derivative warrant liabilities for the period for the three months ended March 31, 2021 is summarized as follows:

Derivative warrant liabilities at December 31, 2020		$	21,354,400
Change in fair value of derivative warrant liabilities			(9,480,870	)
Derivative warrant liabilities at March 31, 2021		$	11,873,530

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- 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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- References

No definition available.

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- Definition

Tabular disclosure of derivative liabilities at fair value.

+ References

No definition available.

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- 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

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