Registration of securities issued in business combination transactions

Recurring Fair Value Measurements (Tables)

v3.21.2
Recurring Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities

    

Carrying 

    

    

Fair Value 

    

Value/ 

Gross 

as of 

Amortization

Amortized 

Unrealized 

June 30,  

 of Bond  

Cost

Loss

2021

Discount

U.S. Money Market

$

268

$

$

268

$

U.S. Treasury Securities

 

345,033,661

 

(4,476)

 

345,029,185

 

33,929

$

345,033,929

$

(4,476)

$

345,029,453

$

33,929

Schedule of fair value measured on recurring basis

    

Carrying Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

Assets:

 

  

 

  

 

  

 

  

Investments held in Trust Account – U.S. Treasury Bills

 

345,033,929

$

345,033,929

$

$

Liabilities:

 

  

 

  

 

  

 

  

Private Placement Warrants

 

4,938,134

 

 

 

4,938,134

Public Warrants

 

8,855,000

 

8,855,000

 

 

Schedule of monte carlo simulation model for the private warrants

    

March 2, 

    

 

2021

 

(Initial 

June 30, 

 

Input

Measurement)

2021

 

Risk-free interest rate

 

1.01

%  

1.06

%

Expected term (years)

 

6.46

 

6.13

Stock price

$

9.584

$

9.7000

Probability of completing business combination

 

80

%  

 

80

%

Expected volatility

 

24.2

%  

 

16.0

%

Exercise price

$

11.50

$

11.50

Schedule of fair value of warrant liabilities

Fair Value at December 31, 2020

    

$

Fair value at issuance March 2 2021

 

22,182,906

Public Warrants reclassified to level 1(1)

 

(8,855,000)

Change in fair value

 

(8,389,772)

Fair Value at June 30, 2021

$

4,938,134