FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

FAIR VALUE MEASUREMENTS [Abstract]

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 June 30, 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 June 30, 2021 are as follows:

	Held-To-Maturity	Level	Amortized Cost		Gross Holding Gain		Fair Value
June 30, 2021	U.S. Treasury Securities (Mature on 6/24/2021)	1	$	690,031,668	$	1,530	$	690,033,198

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 June 30, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description	Level	June 30, 2021
Liabilities:
Warrant Liability – Public Warrants	1	$	18,906,000
Warrant Liability – Private Placement Warrants	2	$	13,426,000
FPA Liability	3	$	6,856,746

Level 3 Fair Value Measurement Inputs

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

Input	June 30, 2021
Risk-free interest rate - FPA		0.11	%
Remaining term - FPA		1.23
Expected volatility		18.5	%
Exercise price	$	11.50
Stock Price	$	9.80

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 (Initial Public Offering)		14,014,000		19,182,000		9,902,957
Transfers to Level 1		—		(18,906,000)		—
Transfers to Level 2		(13,426,000)		—		—
Change in fair value		(588,000)		(276,000)		(3,046,211	)
Fair value as of June 30, 2021	$	—	$	—	$	6,856,746