Registration of securities issued in business combination transactions

FAIR VALUE MEASUREMENTS (Tables)

v3.21.1
FAIR VALUE MEASUREMENTS (Tables)
4 Months Ended
Dec. 31, 2020
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]  
Summary of fair value measurement of assets and liabilities based on hierarchy
The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The gross holding gains and fair value of
held-to-maturity
securities at December 31, 2020 are as follows:
 
Description
  
December 31,
2020
 
  
Quoted Prices

in Active

Markets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Other

Unobservable

Inputs

(Level 3)
 
Assets:
  
     
  
     
  
     
  
     
Cash and marketable securities held in Trust Account
  
$
275,038,028
 
  
$
275,038,028
 
  
$
—  
 
  
$
—  
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liabilities:
  
     
  
     
  
     
  
     
Warrant Liability – Public Warrants
  
$
21,343,306
 
  
$
—  
 
  
$
—  
 
  
$
21,343,306
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Warrant Liability – Private Placement Warrants
  
$
13,631,507
 
  
$
—  
 
  
$
—  
 
  
$
13,631,507
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Summary of assumptions used in estimating the fair value of warrants
The following table provides quantitative information regarding Level 3 fair value measurements:
 
 
  
At

October 27,

2020

(Initial
Measurement)
 
 
As of
December 31,
2020
 
Stock price
  
$
8.50
 
 
$
9.23
 
Strike price
  
$
11.50
 
 
$
11.50
 
Term (in years)
  
 
5.0
 
 
 
5.0
 
Volatility
  
 
40.0
 
 
40.0
Risk-free rate
  
 
0.5
 
 
0.6
Dividend yield
  
 
0.0
 
 
0.0
Fair value of warrants
  
$
2.33
 
 
$
2.73
 
Summary of changes in the fair value of warrant liabilities
The following table presents the changes in the fair value of warrant liabilities:
 
 
  
Private
Placement
 
  
Public
 
  
Warrant
Liabilities
 
Fair value as of August 20, 2020
  
$
—  
 
  
$
—  
 
  
$
—  
 
Initial measurement on October 27, 2020
  
 
11,651,159
 
  
 
18,303,782
 
  
 
29,954,941
 
Change in valuation inputs or other assumptions
  
 
1,980,348
 
  
 
3,039,524
 
  
 
5,019,872
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Fair value as of December 31, 2020
  
$
13,631,507
 
  
$
21,343,306
 
  
$
34,974,813
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Debt Securities, Held-to-maturity
Held-To-Maturity
  
Level
    
Amortized
Cost
    
Gross
Holding
Loss
    
Fair Value
 
December 31, 2020 U.S. Treasury Securities (Mature on 04/29/2021)
     1      $ 275,037,291      $ (6,186    $ 275,031,105