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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Assets Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The gross holding gains and fair value of held-to-maturity securities at March 31, 2021 are as follows:

		Held-To-Maturity		Level			Amortized Cost				Gross Holding Gain				Fair Value
March 31, 2021		U.S. Treasury Securities (Mature on 6/24/2021)		1			$	689,999,276			$	8,023			$	690,007,299

Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at March 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description	Level	March 31, 2021
Liabilities:
Warrant Liability – Public Warrants	3	$	19,320,000
Warrant Liability – Private Placement Warrants	3	$	14,406,000
FPA Liability	3	$	10,052,180

Level 3 Fair Value Measurement Inputs

The key inputs into the Level 3 fair value measurements were as follows:

Input	March 31, 2021			March 23, 2021 (Initial Measurement)
Risk-free interest rate - warrants		1.28	%		1.18	%
Risk-free interest rate - FPA		0.12	%		0.12	%
Remaining term - warrants		6.50			6.53
Remaining term - FPA		1.50			1.52
Expected volatility		20.0	%		20.0	%
Exercise price	$	11.50		$	11.50
Stock Price	$	9.76		$	9.72

Changes in Fair Value of Warrant and FPA Liabilities

The following table presents the changes in the fair value of warrant and FPA liabilities:

	Private Placement		Public		FPA
Fair value as of January 1, 2021	$	—	$	—	$	—
Initial measurement on March 23, 2021 (IPO)		14,014,000		19,182,000		9,902,957
Change in valuation inputs or other assumptions		392,000		138,000		149,223
Fair value as of March 31, 2021	$	14,406,000	$	19,320,000	$	10,052,180