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 Assets And Laibilities Measured At Fair Value
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2021
and
December 31, 2021 by level within the fair value hierarchy:
 
    
March
 
31,
 
2021
     
Quoted Prices in
Active Markets
(Level 1)
    
Significant Other
Observable Inputs
(Level 2)
    
Significant Other
Unobservable Inputs
(Level 3)
  
Assets:
                                    
Money market funds held in Trust Account
    $ 750,074,432      $ 750,074,432      $ —        $ —    
    
 
 
     
 
 
     
 
 
     
 
 
  
Liabilities:
                                    
Warrant Liability – Public Warrants
    $ 41,250,000      $ 41,250,000      $ —        $ —    
    
 
 
     
 
 
     
 
 
     
 
 
  
Warrant Liability – Private Placement Warrants
    $ 20,225,828      $ —        $ —        $ 20,225,828  
    
 
 
     
 
 
     
 
 
     
 
 
  

Description
  
December 31, 2020
 
  
Quoted Prices in
Active Markets
(Level 1)
 
  
Significant Other
Observable Inputs
(Level 2)
 
  
Significant Other
Unobservable Inputs
(Level 3)
 
Assets:
  
      
  
      
  
      
  
      
Money market funds held in Trust Account
  
$
750,063,158
 
  
$
750,063,158
 
  
$
—  
 
  
$
—  
  
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liabilities:
  
      
  
      
  
      
  
      
Warrant Liability – Public Warrants
  
$
48,000,000
 
  
$
48,000,000
 
  
$
—  
 
  
$
—  
  
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Warrant Liability – Private Placement Warrants
  
$
23,676,615
 
  
$
—  
  
  
$
—  
 
  
$
23,676,615
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Summary Of Quantitative Information Regarding Fair Value Measurements
The following table provides quantitative information regarding Level 3 fair value measurements inputs:
 
    
As of

March 31,
2021
   
As of
December 31,
2020
 
Stock price
    $ 10.43     $ 10.90  
Strike Price
    $ 11.50     $ 11.50  
Term (in years)
      5.63       5.75  
Volitility
      28.00 %      28.30 % 
Risk-free interest rate
      1.07 %      0.47 % 
Dividend yield
      0.00 %      0.00 % 
Fair value
    $ 2.38     $ 2.79  
Summary Of Reconciliation Of Warrant Liabilities Measured At Fair Value
The change in the fair value of the warrants measured with Level 3 inputs for the three months ended March 31, 2021 is summarized as follows:
 
Value of warrant liability measured with Level 3 inputs at December 31, 2020
    $ 23,676,615  
Change in fair value of warrant liability measured with Level 3 inputs
      (3,450,787 ) 
Transfer in/out
      —    
Value of warrant liability measured with Level 3 inputs at March 31, 2021
    $ 20,225,828