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 financial assets that are measured at fair value on a recurring basis
June 30, 2021
 
Description
  
Quoted
Prices in
Active
Markets
(Level 1)
 
  
Significant
Other
Observable
Inputs
(Level 2)
 
  
Significant
Other
Unobservable
Inputs
(Level 3)
 
Assets:
  
     
  
     
  
     
Money market fund
  
$
215,099,354
 
  
$
—  
 
  
$
—  
 
Liabilities:
  
     
  
     
  
     
Derivative warrant liabilities - Public
  
$
12,362,500
 
  
$
—  
 
  
$
—  
 
Derivative warrant liabilities - Private
  
$
—  
 
  
$
—  
 
  
$
7,245,000
 
December 31, 2020
 
Description
  
Quoted
Prices in
Active
Markets
(Level 1)
 
  
Significant
Other
Observable
Inputs
(Level 2)
 
  
Significant
Other
Unobservable
Inputs
(Level 3)
 
Assets:
  
     
  
     
  
     
U.S Treasury bills maturing on February 18, 2021
  
$
215,076,225
 
  
$
—  
 
  
$
—  
 
Liabilities:
  
     
  
     
  
     
Derivative warrant liabilities - Public
  
$
11,287,500
 
  
$
—  
 
  
$
—  
 
Derivative warrant liabilities - Private
  
$
—  
 
  
$
—  
 
  
$
6,615,000
 
Schedule of financial liabilities subject to fair value measurements on a recurring basis
The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:
 
 
  
As of
December 31, 2020
 
 
As of
June 30, 2021
 
Volatility
  
 
25.8
 
 
36.2
Stock price
  
$
10.77
 
 
$
9.98
 
Risk-free rate
  
 
0.43
 
 
0.88
Dividend yield
  
 
0.0
 
 
0.0
Schedule of change in Level 3 fair value measurements
The change in the fair value of the derivative warrant liabilities as classified level 3 for the three and six months ended June 30, 2021 is summarized as follows:
 
Level 3 - Derivative warrant liabilities at December 31, 2020
  
$
6,615,000
 
Change in fair value of derivative warrant liabilities
  
 
1,764,000
 
 
  
 
 
 
Level 3 - Derivative warrant liabilities at March 31, 2021
  
$
8,379,000
 
Change in fair value of derivative warrant liabilities
  
 
(1,134,000
 
  
 
 
 
Level 3 - Derivative warrant liabilities at June 30, 2021
  
$
7,245,000