Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements (Tables)

v3.21.2
Fair value measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Summary of Assets Measured at Fair Value On Recurring Basis The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
Description
  
Level
    
June 30,
2021
    
December 31,
2020
 
Assets:
                          
Marketable securities held in Trust Account
     1      $ 317,984,713      $ 318,041,728  
Liabilities:
                          
Warrant Liability – Public Warrants
     1        27,039,375        23,244,375  
Warrant Liability – Private Placement Warrants
     3        20,313,000        12,487,500  
Summary of Binomial Lattice Model for the initial measurement of Public Warrants and Private Placement Warrants The key inputs into the Binomial Lattice Model for the initial measurement of Public Warrants and Private Placement Warrants and subsequent measurement of the Private Placement Warrants are as follows:
Input
  
June 30, 2021
   
December 31, 2020
 
Risk-free interest rate
     0.86     0.38
Market price of public stock
   $ 9.99     $ 10.47  
Dividend Yield
     0.00     0.00
Implied volatility
     32.8     21.8
Exercise price
   $ 11.50     $ 11.50  
Summary of Warrants
The following table presents the changes in the fair value of warrant liabilities:
 
For the six month-period ended June 30, 2021
  
Private
Placement
    
Public
    
Warrant
Liabilities
 
Fair value as of January 1, 2021
   $ 12,487,500      $ 23,244,375      $ 35,731,875  
Change in fair value of warrant liability
     7,242,750        3,478,750        10,721,500  
    
 
 
    
 
 
    
 
 
 
Fair value as of March 31, 2021
   $ 19,730,250      $ 26,723,125      $ 46,453,375  
    
 
 
    
 
 
    
 
 
 
Change in fair value of warrant liability
     582,750        316,250        899,000  
    
 
 
    
 
 
    
 
 
 
Fair value as of June 30, 2021
  
$
20,313,000
 
  
$
27,039,375
 
  
$
47,352,375
 
    
 
 
    
 
 
    
 
 
 
 
For the six month-period ended June 30, 2020
  
Private
Placement
    
Public
    
Warrant
Liabilities
 
Fair value as of January 1, 2020
   $ 7,575,750      $ 14,231,250      $ 21,807,000  
Change in fair value of warrant liability
     (1,914,750      (3,478,750      (3,620,625
    
 
 
    
 
 
    
 
 
 
Fair value as of March 31, 2020
   $ 5,661,000      $ 10,752,500      $ 16,413,500  
    
 
 
    
 
 
    
 
 
 
Change in fair value of warrant liability
     (3,1630,50      (5,850,625      (5,393,500
    
 
 
    
 
 
    
 
 
 
Fair value as of June 30, 2020
  
$
8,824,500
 
  
$
16,603,125
 
  
$
25,427,625