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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 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 September 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 September 30, 2021, are as follows:

	Held-To-Maturity		Level			Amortized Cost				Gross Holding Gain				Fair Value
September 30, 2021	U.S. Treasury Securities (Mature on 10/14/2021)		1			$	690,102,730			$	4,368			$	690,107,098

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

Description	Level	September 30, 2021
Liabilities:
Derivative Liability – Public Warrants	1	$	17,802,000
Derivative Liability – Private Placement Warrants	2	$	12,642,000
Convertible Note – related party	3	$	1,741,609

Changes in Fair Value of Securities

The following table presents the changes in the fair value of Level 3 derivatives:

	Private Placement			Public			Total
Fair value as of January 1, 2021	$	—		$	—		$	—
Initial measurement on March 23, 2021 (Initial Public Offering)		14,014,000			19,182,000			33,196,000
Transfers to Level 1		—			(18,906,000	)		(18,906,000	)
Transfers to Level 2		(13,426,000	)		—			(13,426,000	)
Change in fair value		(588,000	)		(276,000	)		(864,000	)
Fair value as of September 30, 2021	$	—		$	—		$	—

The following table presents the changes in the fair value of the Level 3 Convertible Promissory Notes as of September 30, 2021:

	Total
Fair value as of January 1, 2021	$	—
Proceeds received through convertible note – related party		1,750,000
Change in fair value		(8,391	)
Fair value as of September 30, 2021	$	1,741,609