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]  
Schedule of assets that are measured at fair value on a recurring basis
      Held-To-Maturity   Amortized
Cost
    Gross
Holding
Gain (Loss)
    Fair Value  
March 31, 2021     U.S. Treasury Securities (Mature on 4/1/2021)   $ 350,279,327     $ 673     $ 350,680,000  
                               
December 31, 2020     U.S. Treasury Securities (Mature on 2/25/2021)   $ 350,218,694     $ (4,298 )   $ 350,214,396  
Schedule of fair value measured on recurring basis
          March 31,     December 31,  
Description   Level     2021     2020  
Assets:                  
Marketable securities held in Trust Account     1     $ 350,280,000     $ 350,218,694  
                         
Liabilities:                        
Warrant Liability – Public Warrants     1     $ 20,300,000     $ 44,800,000  
Warrant Liability – Private Placement Warrants     3     $ 9,588,618     $ 21,326,490  
Schedule of quantitative information regarding Level 3 fair value measurements
    March 31,
2021
    December 31,
2020
 
Unit price   $ 9.96     $ 11.30  
Strike Price   $ 11.50     $ 11.50  
Term (Years)     5.25       5.50  
Volatility     17.1 %     25.0 %
Risk-free rate     0.98 %     0.43 %
Dividend yield     0.0 %     0.0 %
Schedule of fair value of warrant liabilities
    Private Placement  
Fair value as of December 31, 2020   $ 21,326,490  
Change in valuation inputs or other assumptions(1)     (11,737,872 )
Fair value as of March 31, 2021   $ 9,588,618  
(1) Changes in valuation are recognized as a change in fair value of warrant liabilities in the condensed consolidated statement of operations.