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 Fair Value, Assets Measured on Recurring Basis
The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 by level within the fair value hierarchy:
 
Description
  
Quoted Prices
in Active
Markets
(Level 1)
    
Significant
Other
Observable
Inputs
(Level 2)
    
Significant
Other
Unobservable
Inputs
(Level 3)
 
Assets:
                          
Investments held in Trust Account
   $ 495,914,245      $ —        $ —    
Liabilities:
                          
Derivative warrant liabilities
   $ —        $ —        $ 18,047,120  
Summary Of Quantitative Information Regarding Fair Value Measurements
The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:
 
    
As of
March 9, 2021
   
As of
March 31, 2021
 
Volatility
     17.0     15.0
Stock price
   $ 10.00     $ 10.00  
Expected life of the options to convert
     5       5  
Risk-free rate
     0.83     0.92
Dividend yield
     0.0     0.0
Summary Of Change in Fair Value of Derivative Warrant Liabilities
The change in the fair value of the derivative warrant liabilities for the period for the three months ended March 31, 2021 is summarized as follows:
 
Level 3- Derivative warrant liabilities at December 31, 2020
   $ —    
Issuance of derivative warrant liabilities
     21,086,630  
Change in fair value of derivative warrant liabilities
     (3,039,510
Level 3 -Derivative warrant liabilities at March 31, 2021
   $ 18,047,120