FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
FAIR VALUE MEASUREMENTS [Abstract]  
Gross Holding Gains and Fair Value of Held-To-Maturity Securities
The following table presents information about the gross holding gains and fair value of held-to-maturity securities at December 31, 2020:


 
Held-To-Maturity
 
Level
  
Amortized
Cost
  
Gross
Holding
Gain
  
Fair Value
 
December 31, 2020
 
U.S. Treasury Securities (Matured on 3/11/2021)
  
1
  
$
312,507,938
  
$
(10,694
)
 
$
312,497,244
 
Assets and Liabilities Measured on Recurring Basis
The following table presents information about the Company’s assets and liabilities 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:

  
Level
  
December 31,
2020
 
Assets:
      
Marketable securities held in Trust Account
  
1
  
$
312,497,244
 
         
Liabilities:
        
Warrant Liability – Public Warrants
  
3
  
$
20,625,000
 
Warrant Liability – Private Placement Warrants
  
3
  
$
10,982,000
 

The Warrants were classified as Level 3 at the initial measurement date due to the use of unobservable inputs.

Warrant Liability – Public Warrants
  
3
  
$
15,156,250
 
Warrant Liability – Private Placement Warrants
  
3
  
$
8,075,000
 
Key Inputs for Private Placement Warrants and Public Warrants
The key inputs into the Black-Scholes and Monte Carlo simulation models, respectively, for the Private Placement Warrants and Public Warrants were as follows at initial measurement:

Input
 
December 11, 2020
(Initial
Measurement)
 
Risk-free interest rate
  
0.57
%
Tine to maturity
  
6.50
 
Dividend yield
  
0.00
%
Expected volatility
  
17.50
%
Exercise price
 
$
11.50
 
Unit Price
 
$
9.51
 

The key inputs into the warrant valuation for the Public Warrants and the Private Placement Warrants were as follows at December 31, 2020:

Input
 
Public Warrants
  
Private Placement
Warrants
 
Risk-free interest rate
  
0.57
%
  
0.57
%
Expected Term
  
6.45
   
6.45
 
Dividend yield
  
0.00
%
  
0.00
%
Expected volatility
  
17.50
%
  
17.50
%
Exercise price
 
$
11.50
  
$
11.50
 
Unit Price
 
$
10.36
  
$
10.36
 
Changes in 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 October 5, 2020 (inception)
 
$
—
  
$
—
  
$
—
 
Initial measurement on December 11, 2020
  
8,075,000
   
15,156,250
   
23,231,250
 
Change in valuation of warrant liability
  
2,907,000
   
5,468,750
   
8,375,750
 
Fair value as of December 31, 2020
 
$
10,982,000
  
$
20,625,000
  
$
31,607,000