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RECURRING FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2022
RECURRING FAIR VALUE MEASUREMENTS |
Schedule of Company's gross holding gains and fair value of held-to-maturity securities | The following table presents information about the Company’s gross holding gains and fair value of held-to-maturity securities at September 30, 2022 and December 31, 2021:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ | ​ |  | Gross |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Amortized | ​ | Holding | ​ | ​ | ​
​ | ​ | Held-To-Maturity | ​ | Level | ​ | Cost | ​ | Gain | ​ | Fair Value
September 30, 2022 |  | U.S. Treasury Bill (Matures on 10/06/2022) |  | 1 | ​ | $ | 277,138,779 | ​ | $ | 9,566 | ​ | $ | 277,148,345
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021 |  | U.S. Treasury Bill (Matures on 01/06/2022) |  | 1 | ​ | $ | 276,079,635 | ​ | $ | 1,273 | ​ | $ | 276,080,908
​
Schedule of Company's assets and liabilities that were measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Level 1 |  | Level 2 |  | Level 3
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Private Placement Warrants |  | $ | — |  | $ | — |  | $ | 356,053
Public Warrants |  | $ | — |  | $ | 605,360 |  | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Level 1 |  | Level 2 |  | Level 3
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Private Placement Warrants | ​ | $ | — | ​ | $ | — | ​ | $ | 2,692,800
Public Warrants | ​ | $ | 4,692,000 | ​ | $ | — | ​ | $ | —
Schedule of key inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | September 30, | ​
Input |  | 2021 |  | 2022 |
Risk-free interest rate | ​ | ​ | 1.26 | % | ​ | 4.04 | %
Expected term (years) | ​ | ​ | 5.0 | ​ | ​ | 5.39 | ​
Expected volatility | ​ | ​ | 10.50 | % | ​ | 6.9 | %
Dividend rate | ​ | ​ | 0.0 | % | ​ | 0.0 | %
Exercise price | ​ | $ | 11.50 | ​ | $ | 11.50 | ​
Market implied likelihood of IBC | ​ | ​ | — | % | ​ | 6.9 | %
Schedule of reconciliation of changes in fair value of the assets and liabilities classified as level 3 | The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the Company’s assets and liabilities classified as level 3 for the three and nine months ended September 30, 2022 and September 30, 2021.
​ | ​ | ​ | ​
Fair Value at December 31, 2021 | ​ | $ | 2,692,800
Change in fair value | ​ |  | (1,100,880)
Fair Value at March 31, 2022 | ​ | ​ | 1,591,920
Change in fair value | ​ | ​ | (793,893)
Fair Value at June 30, 2022 | ​ | ​ | 798,027
Change in fair value | ​ | ​ | (441,974)
Fair Value at September 30, 2022 | ​ | $ | 356,053
​ ​ ​
​ | ​ | ​ | ​
Fair Value at issuance February 11, 2021 |  | $ | 18,028,933
Change in fair value | ​ |  | (7,166,800)
Fair Value at March 31, 2021 | ​ | ​ | 10,862,133
Public Warrants reclassified to level 2 | ​ | ​ | (9,200,000)
Issuance of Private Placement Warrants upon conversion of Working Capital Loans | ​ | ​ | 68,000
Change in fair value | ​ | ​ | 3,655,467
Fair Value at June 30, 2021 | ​ | ​ | 5,385,600
Change in fair value | ​ | ​ | (2,270,400)
Fair Value at September 30, 2021 | ​ | $ | 3,115,200

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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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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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 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5B -URI https://asc.fasb.org/extlink&oid=126970911&loc=SL120269825-111563 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5A -URI https://asc.fasb.org/extlink&oid=126970911&loc=SL120269820-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27232-111563 + Details
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