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FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2022
Schedule of assets measured at fair value on recurring basis

Gross

Holding

    

Held-To-Maturity Securities

    

Level

    

Amortized Cost

    

 Gain (loss)

    

Fair Value

September 30, 2022

U.S. Treasury Securities (Mature on 10/04/22)

1

$

693,252,957

$

62,442

$

693,315,399

December 31, 2021

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

1

$

690,144,171

$

6,829

$

690,151,000

Schedule of liabilities measured at fair value on recurring basis

    

    

September 30, 

    

December 31, 

Description

    

Level

    

2022

    

2021

Liabilities:

  

  

  

Derivative Liability – Public Warrants

 

1

$

966,000

$

11,730,000

Derivative Liability – Private Placement Warrants

2

$

686,000

$

8,330,000

Convertible Note – related party

 

3

$

1,796,337

$

1,934,656

Promissory Note – related party

3

$

1,526,762

$

Forward Purchase Agreement

 

3

$

4,932,441

$

Schedule of changes in fair value of securities

    

Total

Fair value as of January 1, 2022

$

1,934,656

Change in fair value

 

(311,557)

Fair value as of September 30, 2022

$

1,623,099

Schedule of quantitative information regarding Level 3 fair value measurements

    

September 30, 

    

December 31, 

 

Input:

2022

2021

 

Risk-free interest rate

 

3.71

%

0.06

%

Expected term (years)

 

0.44

 

0.16

Expected volatility

 

44.30

%

69.80

%

Exercise price

$

1.50

$

1.50

Fair value of Units

$

0.07

$

0.17

Forward Purchase Agreement  
Schedule of changes in fair value of securities

    

Private

    

Placement

    

Public

Fair value as of January 1, 2021

$

$

Initial measurement on March 23, 2021 (Initial Public Offering)

 

14,014,000

 

19,182,000

Transfers to Level 1

 

 

(18,906,000)

Transfers to Level 2

 

(13,426,000)

 

Change in fair value

 

(588,000)

 

(276,000)

Fair value as of September 30, 2021

$

$

    

Total

Fair value as of January 1, 2021

$

Change in fair value

 

4,932,441

Fair value as of September 30, 2022

$

4,932,441

Schedule of quantitative information regarding Level 3 fair value measurements

    

September 30, 

 

Input:

2022

 

Risk-free interest rate

 

3.78

%

Expected term (years)

 

0.44

Expected volatility

 

4.7

%

Exercise price

$

10.00

Fair value of Units

$

9.82

Redemption proceeds estimate

 

70

%