Registration of securities issued in business combination transactions

FAIR VALUE MEASUREMENTS (Tables)

v3.21.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
FAIR VALUE MEASUREMENTS    
Schedule of company's assets that are measured at fair value on a recurring basis

 

 

 

 

 

 

Description

    

Level

    

March 31, 2021

Assets:

 

  

 

  

 

Marketable securities held in Trust Account

 

 1

 

$

230,016,101

 

 

 

 

 

 

Liabilities:

 

  

 

 

  

Warrant Liability - Public Warrants

 

 3

 

 

45,425,000

Warrant Liability - Private Placement Warrants

 

 3

 

 

25,200,000

 

 

 

 

 

 

 

 

    

 

    

December 31,

Description

 

Level

 

2020

Assets:

 

  

 

 

  

Marketable securities held in Trust Account .

 

1

 

$

229,967,028

Liabilities:

 

  

 

 

  

Warrant Liability – Public Warrants

 

3

 

 

12,880,000

Warrant Liability – Private Placement Warrants

 

3

 

 

6,900,000

 

Schedule of key inputs into valuing warrant liabilities

 

 

 

 

 

 

 

 

 

    

Level

    

March 31, 2021

 

Strike Price

 

 

 

$

11.50

 

Risk Free Rate

 

(a)

 

 

1.00

%

Expected Volatility

 

(b)

 

 

28.0

%

Terms (Years)

 

(c)

 

 

5.36

 

Probability of Acquisition

 

(d)

 

 

95.0

%


(a) Based on the linearly interpolated treasury rate

(b) Blended volatility based upon weighted average of time pre announcement and post announcement

(c) As of the measurement date until assumed expiration

(d) Based upon success of SPACs in completing business combination

 

 

 

 

 

 

 

 

 

 

 

    

 

 

December 4, 2020

    

 

December 31, 2020

 

 

 

 

 

(Initial Measurement)

 

 

 

 

Strike Price

 

 

 

$

11.50

 

$

11.50

 

Risk Free Rate

 

(a)

 

 

0.5

%

 

0.5

%  

Expected Volatility

 

(b)

 

 

19.0

%

 

19.0

%  

Term (Years)

 

(c)

 

 

5.75

%

 

5.57

%  

Probability of Acquisition

 

(d)

 

 

80

%

 

85

%  


(a)

Based on the linearly interpolated treasury rate

(b)

Blended volatility based upon weighted average of time pre announcement and post announcement

(c)

As of the measurement date until assumed expiration

(d)

Based upon success of SPACs in completing business combination

Schedule of change in the fair value of the warrant liabilities

 

 

 

 

 

 

 

 

 

 

 

    

Private Placement

    

Public

    

Warrant Liabilities

Fair Value as of December 31, 2020

    

$

6,900,000

 

$

12,880,000.00

 

$

19,780,000

 

 

 

 

 

 

 

 

 

 

Change in valuation inputs or other assumptions

 

 

18,300,000

 

 

32,545,000

 

 

50,845,000

 

 

 

 

 

 

 

 

 

 

Fair Value as of March 31, 2021

 

$

25,200,000

 

$

45,425,000

 

$

70,625,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Private

 

 

 

 

Warrant

 

 

Placement

 

Public

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Fair value as of September 23, 2020

    

$

 —

    

$

 —

    

$

 —

Initial measurement on December 4, 2020

 

 

6,000,000

 

 

12,190,000

 

 

18,190,000

Change in valuation inputs or other assumptions

 

 

900,000

 

 

690,000

 

 

1,590,000

Fair value as of December 31, 2020

 

$

6,900,000

 

$

12,880,000

 

$

19,780,000