v3.22.1

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

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

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 March 31, 2022 and December 31, 2021 by level within the fair value hierarchy:

		Fair Value Measured as of March 31, 2022
		Level 1				Level 2				Level 3				Total
Assets:
Investments held in Trust Account—U.S. Treasury Securities		$	414,079,578			$	—			$	—			$	414,079,578
Liabilities:
Warrant liabilities—Public Warrants		$	3,208,500			$	—			$	—			$	3,208,500
Warrant liabilities—Private Placement Warrants		$	—			$	—			$	47,585			$	47,585
		Fair Value Measured as of December 31, 2021
		Level 1				Level 2				Level 3				Total
Assets:
Investments held in Trust Account—U.S. Treasury Securities		$	414,052,978			$	—			$	—			$	414,052,978
Liabilities:
Warrant liabilities—Public Warrants		$	7,027,650			$	—			$	—			$	7,027,650
Warrant liabilities—Private Placement Warrants		$	—			$	—			$	107,910			$	107,910

Summary of fair value measurements inputs

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

		March 31, 2022				December 31, 2021
Exercise price		$	11.50			$	11.50
Stock Price		$	9.85			$	9.81
Term (in years)			5.00				5.00
Volatility			6.00	%			14.20	%
Risk-free interest rate			2.47	%			1.34	%
Dividend yield			0.00	%			0.00	%
Probability of success			80.00	%			80.00	%

Summary of change in the fair value of the derivative warrant liabilities

The change in the fair value of the derivative warrant liabilities measured with Level 3 inputs for the three months ended March 31, 2022 and 2021 are summarized as follows:

Level 3 warrant liabilities as of December 31, 2021		$	107,910
Change in fair value of warrant liabilities			(60,325	)
Level 3 warrant liabilities as of March 31, 2022		$	47,585
Level 3 warrant liabilities as of December 31, 2020		$	165,780
Change in fair value of warrant liabilities			(30,700	)
Level 3 warrant liabilities as of March 31, 2021		$	135,080

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- Definition

Schedule of changes in the fair value of warrant liabilities.

+ References

No definition available.

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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=123874694&loc=d3e19207-110258

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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=123874694&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=123874694&loc=d3e19207-110258

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