Registration of securities issued in business combination transactions

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Summary of Fair Values of Assets and Liabilities
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.
 
 
  
Fair Value Measured as of June 30, 2021
 
 
  
Level 1
 
  
Level 2
 
  
Level 3
 
  
Total
 
Assets
  
     
  
     
  
     
  
     
Investments held in Trust Account – U.S. Treasury Securities
   $ 275,006,781      $ —        $ —        $ 275,006,781  
Liabilities:
                                   
Warrant liabilities—public warrants
   $ 6,380,000      $  —        $ —        $ 6,380,000  
Warrant liabilities—private warrants
   $ —        $ —        $ 6,186,666      $ 6,186,666  
Summary of Changes in Fair Value of the Derivative Warrant Liabilities
The change in the fair value of the Level 3 derivative warrant liabilities for the three months ended June 30, 2021 and the period from January 8, 2021 (inception) through June 30, 2021 is summarized as follows:
 
Warrant liabilities at January 8, 2021
   $ —    
Issuance of Public and Private Warrants
     9,153,333  
Change in fair value of warrant liabilities
     (1,408,333
    
 
 
 
Warrant liabilities at March 31, 2021
     7,745,000  
Public Warrants transferred to Level 1
     (3,905,000
Change in fair value of warrant liabilities
     2,346,666  
    
 
 
 
Warrant liabilities at June 30, 2021
   $ 6,186,666  
    
 
 
 
Summary of Quantitative Information Regarding Fair Value Measurements
The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:
 
    
June 30, 2021
   
March 2, 2021
 
Exercise price
   $ 11.50     $ 11.50  
Stock Price
   $ 9.87     $ 9.83  
Term (in years)
     5.25       5.58  
Volatility
     17.80     15.10
Risk-free interest rate
     0.91     0.79
Dividend yield
     —         —