FAIR VALUE MEASUREMENTS (Tables)
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3 Months Ended |
Mar. 31, 2021 |
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| FAIR VALUE MEASUREMENTS |
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| Schedule of assets measured at fair value on a recurring basis |
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March 31,
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December 31,
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Level
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2021
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2021
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Assets:
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Marketable securities held in Trust Account(1)
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1
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$
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460,021,175
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$
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460,009,831
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Liabilities:
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Warrant Liability – Public Warrants(2)
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1
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$
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28,060,000
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$
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18,555,000
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Warrant Liability – Private Placement Warrants (2)
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2
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$
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12,200,000
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42,550,000
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(1)
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The fair value of the marketable securities held in Trust Account approximates the carrying amount primarily due to their short-term nature. |
Measured at fair value on a recurring basis.
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| Schedule of quantitave information regarding Level 3 fair value measurements |
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October 14,
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2020
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(Initial
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Input
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Measurement)
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Risk-free interest rate
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0.4
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%
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Expected term (years)
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6.00
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Expected volatility
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20.0
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%
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Exercise price
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$
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11.50
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Fair value of Units
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$
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10.00
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| Schedule of change in the fair value of the warrant liabilities |
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Private Placement
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Public
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Warrant Liabilities
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Fair value as of December 31, 2020
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$
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18,555,000
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$
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42,550,000
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$
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61,105,000
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Change in fair value
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(6,355,000)
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(14,490,000)
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(20,845,000)
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Fair value as of March 31, 2021
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$
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12,200,000
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$
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28,060,000
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$
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40,260,000
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