Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
 4 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities that are measured at fair value on a recurring basis
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.
 
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
    $ 402,500,000      $ —        $ —    
Liabilities:
                           
Derivative warrant liabilities—Public
    $ —        $ —        $ 19,588,333  
Derivative warrant liabilities—Private
    $ —        $ —        $ 9,782,000  
Summary of quantitative information regarding Level 3 initial fair value measurements of warrants
The following table provides quantitative information regarding Level 3 fair value measurements inputs at the initial measurement date:
 
    
As of

November
23,

2020
    
As of

November
27,

2020
    
As of

December
31,

2020
  
Share price
    $ 9.57     $ 9.63     $ 9.79  
Exercise price
    $ 11.50     $ 11.50     $ 11.50  
Risk-free interest rate
      0.71 %      0.67 %      0.69 % 
Volatility
      22.0 %      22.0 %      23.0 % 
Expected term (years)
      5.0       5.0       5.0  
Dividend yield
      0.0 %      0.0 %      0.0 % 
Summary of fair value of the derivative warrant liabilities
The change in the fair value of the derivative warrant liabilities for the period from September 7, 2020 (inception) through December 31, 2020 is summarized as follows:
 
Warrant liabilities at September 7, 2020 (inception)
    $ —    
Issuance of Public and Private Warrants at November 23, 2020
      22,613,330  
Issuance of Public and Private Warrants at November 27, 2020
      3,234,000  
Change in fair value of warrant liabilities
      3,523,003  
    
 
 
  
Warrant liabilities at December 31, 2020
    $  29,370,333