Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Summary of Fair Values of Assets and Liabilities
The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 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 March 31, 2021
 
    
Level 1
    
Level 2
    
Level 3
    
Total
 
Assets
           
Investments held in Trust Account - U.S. Treasury Securities
   $ 275,000,000      $ —        $ —        $ 275,000,000  
Liabilities:
           
Warrant liabilities - public warrants
     —          —          3,905,000        3,905,000  
Warrant liabilities - private warrants
     —          —          3,840,000        3,840,000  
                   
              
Summary of Changes in Fair Value of the Derivative Warrant Liabilities
The change in the fair value of the derivative warrant liabilities for the period from January 8, 2021 (inception) through March 31, 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 liabilibites
     (1,408,333
  
 
 
 
Warrant liabilities at March 31, 2021
   $ 7,745,000  
  
 
 
 
Summary of Quantitative Information Regarding Fair Value Measurements
The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates:
 
    
March 31, 2021
   
March 2, 2021
 
Exercise price
   $ 11.50     $ 11.50  
Stock Price
   $ 9.66     $ 9.83  
Term (in years)
     5.50       5.58  
Volatility
     13.90     15.10
Risk-free interest rate
     1.04     0.79
Dividend yield
     —         —