v3.22.0.1

Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of quantitative information regarding Level 3 fair value measurements inputs

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 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)
Assets
Investmets held in Trust Account - U.S. Treasury Securities		$	414,011,571			$	—			$	—
Liabilities
Derivative warrant liabilities -Public Warrants		$	10,764,000			$	—			$	—
Derivative warrant liabilities -Private Warrants		$	—			$	—			$	165,780

Summary of fair value of the derivative warrant liabilities measured with Level 3 inputs

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

		As of September 18, 2020				As of December 31, 2020
Exercise price		$	11.50			$	11.50
Stock price		$	9.69			$	10.01
Volatility			22.0	%			17.0	%
Term			5.00				5.00
Risk-free rate			0.46	%			0.56	%
Dividend yield			0.0	%			0.0	%

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

The change in the fair value of the derivative warrant liabilities measured with Level 3 inputs for the period from June 22, 2020 (inception) through December 31, 2020 is summarized as follows:

Level 3 derivative warrant liabilities at June 22, 2020 (inception)						$	—
Issuance of Public and Private Warrants							13,765,730
Transfer of Public Warrants to Level 1							(12,109,500	)
Change in fair value of derivative warrant liabilities							(1,490,450	)
Level 3 derivative warrant liabilities at December 31, 2020						$	165,780

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ 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
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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
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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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