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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities that are measured at fair value on a recurring basis

Description		Level		March 31, 2022				December 31, 2021
Assets:
Investments held in Trust Account		1		$	287,524,093			$	287,517,003
Liabilities:
Warrant Liabilities – Public Warrants		1		$	2,294,810			$	4,786,875
Warrant Liabilities – Private Placement Warrants		3		$	1,197,292			$	2,497,500
Convertible promissory note – related party		3			367,700			$	—

Schedule of estimated fair value of the convertible promissory note

Input		March 31, 2022				December 31, 2021
Stock price		$	9.76			$	9.68
Strike price		$	11.50			$	11.50
Effective Expiration Date			August 3, 2026				August 3, 2026
Volatility			5.7	%			5.7	%
Risk-free rate			2.42	%			2.42	%
Dividend yield			0.0	%			0.0	%

Schedule of changes in the fair value of warrant liabilities

		Private Placement
Fair value as of January 1, 2022		$	2,497,500
Change in valuation inputs or other assumptions			(1,300,208	)
Fair value as of March 31, 2022		$	1,197,292

		Private Placement				Public				Warrant Liabilities
Fair value as of January 1, 2021		$	—			$	—			$	—
Initial measurement on March 19, 2021			4,500,000				8,333,333				12,833,333
Change in valuation inputs or other assumptions			(1,395,000	)			(2,583,333	)			(3,978,333	)
Fair value as of March 31, 2021		$	3,105,000			$	5,750,000			$	8,855,000

Schedule of estimated fair value of the convertible promissory note

Input		February 25, 2022 (Initial Measurement)				As of March 31, 2022
Stock price		$	9.70			$	9.76
Strike price		$	11.50			$	11.50
Expiration date of warrants			9/19/2027				9/19/2026
Volatility			8.4	%			5.7	%
Risk-free rate			1.88	%			2.40	%
Dividend yield			0.0	%			0.0	%

Schedule of changes in the fair value of the Level 3 convertible promissory note

Fair value as of January 1, 2021		$	—
Proceeds received through Convertible Promissory Note			500,000
Change in fair value			(132,300	)
Fair value as of March 31, 2022		$	367,700

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

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Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

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