Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2021 and December 31, 2020 by level within the fair value hierarchy:
 
    
September 30, 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
   $ 750,097,480      $ 750,097,480      $ —        $ —    
    
 
 
    
 
 
    
 
 
    
 
 
 
Liabilities:
                                   
Warrant Liability – Public Warrants
   $ 40,123,125      $ 40,123,125      $ —        $ —    
    
 
 
    
 
 
    
 
 
    
 
 
 
Warrant Liability – Private Placement Warrants
   $ 20,619,070      $ —        $ —        $ 20,619,070  
    
 
 
    
 
 
    
 
 
    
 
 
 
 
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

September 30,

2021
   
As of

December 31,

2020
 
Stock price
   $ 10.22     $ 10.90  
Strike Price
   $ 11.50     $ 11.50  
Term (in years)
     5.06       5.75  
Volatility
     29.80     28.30
Risk-free interest rate
     0.99     0.47
Dividend yield
     0.00     0.00
Fair value
   $ 2.43     $ 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 nine months ended September 30, 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
     (3,057,545
Transfer in/out
     —    
    
 
 
 
Value of warrant liability measured with Level 3 inputs at September 30, 2021
   $ 20,619,070