XML 30 R20.htm IDEA: XBRL DOCUMENT v3.22.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents information about the Company’s assets and liabilities that are measured on a recurring basis as of June 30, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value. Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period.
Fair Value
June 30, 2022December 31, 2021Valuation Method
Assets
Investments held in Trust Account$230,257,369 $230,026,609 Level 1 - Quoted prices in active markets for identical assets
Liabilities
Public Warrant liability$828,000 $3,634,000 Level 1 - Quoted prices in active markets for identical liabilities
Private Placement Warrant liability$912,000 $— Level 2 - Quoted prices for similar liabilities in active markets
— 4,661,334 Level 3 - Unobservable inputs based on an assessment of the assumptions that market participants would use in pricing liabilities
Schedule of Warrant Liabilities and Fair Value Measurement Inputs and Valuation Techniques
The following table presents the changes in the fair value of warrant liabilities:
Private Placement WarrantsPublic WarrantsTotal Warrant Liabilities
Fair value as of December 31, 2021
$4,661,334 $3,634,000 $8,295,334 
Change in fair value(1)
(2,432,001)(1,610,000)(4,042,001)
Fair value as of March 31, 20222,229,333 2,024,000 4,253,333 
Change in fair value(1)
(1,317,333)(1,196,000)(2,513,333)
Fair value as of June 30, 2022
$912,000 $828,000 $1,740,000 
(1)Changes in valuation are recognized in change in fair value of warrant liabilities in the unaudited condensed statements of operations.