General form of registration statement for all companies including face-amount certificate companies

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
6 Months Ended 10 Months Ended
Jun. 30, 2021
Dec. 31, 2020
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

December 31, 2020

 

U.S.TreasurySecurities
(Mature on 2/25/2021)

 

$

350,218,694

 

$

(4,298

)

 

$

350,214,396

 
Schedule of measured at fair value on a recurring basis

Description

 

Level

 

June 30,
2021

 

December 31,
2020

Assets:

     

 

   

 

 

Investments held in Trust Account

 

1

 

$

350,119,600

 

$

350,218,694

       

 

   

 

 

Liabilities:

     

 

   

 

 

Warrant Liability – Public Warrants

 

1

 

$

24,498,250

 

$

44,800,000

Warrant Liability – Private Placement Warrants

 

3

 

$

11,625,930

 

$

21,326,490

 

Level

 

Fair Value at
December 31,
2020

Assets:

     

 

 

Marketable securities held in Trust Account

 

1

 

$

350,218,694

       

 

 

Liabilities:

     

 

 

Warrant Liability– Public Warrants

 

1

 

$

44,800,000

Warrant Liability– Private Placement Warrants

 

3

 

$

21,326,510

Schedule of quantitative information regarding Level 3 fair value measurements
 

June 30,
2021

 

December 31,
2020

Unit price

 

$

9.95

 

 

$

11.30

 

Strike Price

 

$

11.50

 

 

$

11.50

 

Term (Years)

 

 

5.00

 

 

 

5.50

 

Volatility

 

 

20.5

%

 

 

25.0

%

Risk-free rate

 

 

0.88

%

 

 

0.43

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

 
Schedule of fair value of warrant liabilities
 

Private
Placement

Fair value as of January 1, 2021

 

$

21,326,490

 

Change in valuation inputs or other assumptions(1)

 

 

(9,700,560

)

Fair value as of June 30, 2021

 

$

11,625,930