Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.21.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Summary Of Assets And Liabilities 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 December 31, 2020 by level within the fair value hierarchy:
 
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 fund 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 July 2, 2020 
 
 
 
As of
December 31,
2020
 
 
 
Public
Warrants
 
 
 
Private
Warrants
 
 
 
 
Private
Warrants
 
Stock price
   $ 10.54     $ 10.54  
 
$
10.90
 
Strike Price
   $ 11.50     $ 11.50  
 
$
11.50
 
Term (in years)
     6       6  
 
 
5.75
 
Volitility
    
10 - 20
   
10 - 18
 
 
28.30
Risk-free rate
     0.40     0.40
 
 
0.47
Dividend yield
     0.00     0.00
 
 
0.00
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 period from July 2, 2020 (Initial Measurement) through December 31, 2020 is summarized as follows: 
 
Issuance of Public and Private Warrants with Level 3 measurements
   $ 28,537,364  
Change in fair value of warrant liability measured with Level 3 inputs
     14,726,289  
Transfer of Public Warrants to Level 1 measurements
     (19,587,038
    
 
 
 
Warrants liability 
at December 31, 2020 measured utilizing Level 3 inputs
   $ 23,676,615