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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2021
FAIR VALUE MEASUREMENTS  
Assets Measured at Fair Value on Recurring Basis

    

Gross

Amortized

Holding

Fair

Held-To-Maturity

    

Level

    

 Cost

    

 Gain

    

 Value

December 31, 2021

U.S. Treasury Securities (Mature on 01/11/22)

1

$

690,144,171

$

6,829

$

690,151,000

Liabilities Measured at Fair Value on Recurring Basis

    

    

December 31, 

Description

Level

    

2021

Liabilities:

  

  

Derivative Liability – Public Warrants

 

1

$

11,730,000

Derivative Liability – Private Placement Warrants

 

2

$

8,330,000

Convertible Note – related party

 

3

$

1,934,656

Changes in Fair Value of Securities

    

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 December 31, 2021

$

$

$

    

Total

Fair value as of January 1, 2021

$

Proceeds received through convertible note – related party

 

2,000,000

Change in fair value

 

(65,344)

Fair value as of December 31, 2021

$

1,934,656