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FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2021
FAIR VALUE MEASUREMENTS  
Summary of gross holding losses and fair value of held-to-maturity securities

Gross 

Amortized 

Holding 

    

Held-To-Maturity

    

Level

    

Cost

    

Gain

    

Fair Value

March 31, 2021

 

Money Market Funds

1

$

N/A

$

N/A

$

278,813,000

December 31, 2020

 

U.S. Treasury Securities (Matures on 03/18/21)

1

$

278,766,888

$

7,079

$

278,773,966

Schedule of Company's assets that are measured at fair value on a recurring basis

    

    

March 31, 

    

December 31,

Description

Level

 

2021

Level

2020

Liabilities:

 

  

 

  

  

Warrant Liability – Public Warrants

1

$

6,682,000

3

$

12,558,000

Warrant Liability – Private Warrants

 

2

$

8,970,000

3

$

9,354,800

Schedule of quantitative information regarding Level 3 fair value measurements inputs

    

March 31, 2021

    

December 31, 2020

Risk-free interest rate

    

0.94

%

    

0.41

%

Dividend yield

0.00

%

 

0.00

%

Implied volatility

12.3

%

 

15.8

%

Exercise price

$

11.50

$

11.50

Unit Price

$

9.81

$

9.83

Schedule of change in the fair value of the warrant liabilities

    

Private Placement

    

Public

    

Warrant Liabilities

Fair value as of December 31, 2020

$

9,354,800

$

12,558,000

$

21,912,800

Change in fair value

 

(2,672,800)

 

(3,588,000)

 

(6,260,800)

Transfer to Level 1

(8,970,000)

(8,970,000)

Transfer to Level 2

(6,682,000)

(6,682,000)

Fair value as of March 31, 2021

$

$

$