Quarterly report pursuant to Section 13 or 15(d)

Recurring Fair Value Measurements (Tables)

v3.22.1
Recurring Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities that are measured at fair value on a recurring basis
The following table presents fair value information as of March 31, 2022 and December 31, 2021, of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.
 
March 31, 2022
  
Level 1
    
Level 2
    
Level 3
 
Assets
                          
Investments held in Trust Account
   $ 351,936,177      $      $  
    
 
 
    
 
 
    
 
 
 
Total Assets
   $ 351,936,177      $      $  
Liabilities
                          
Public Warrants
   $ 4,655,755
     $      $  
Private Warrants
                   4,508,143  
Total Liabilities
   $ 4,655,755
     $      $ 4,508,143  
 
December 31, 2021
  
Level 1
    
Level 2
    
Level 3
 
Assets
                          
Investments held in Trust Account
   $ 351,900,888      $      $  
    
 
 
    
 
 
    
 
 
 
Total Assets
   $ 351,900,888      $      $  
Liabilities
                          
Public Warrants
   $      $      $ 10,122,569  
Private Warrants
                   9,840,443  
Total Liabilities
   $      $      $ 19,963,011  
Summary of simulation model for the private placement warrants and public warrants
The following table provides quantitative information regarding Level 3 fair value measurements:
 
    
March 31,
2022
   
December 31,
2021
 
Share price
   $ 9.91     $ 9.60  
Strike price
   $ 11.50     $ 11.50  
Term (in years)
     5.96       6.21  
Volatility
     3.6     10.4
Risk-free rate
     2.41     1.37
Dividend yield
     0       0  
Summary Of Reconciliation Of Changes In Fair Value Of warrant Liabilities
The following table presents the changes in the fair value of Level 3 warrant liabilities:
    
Private
Placement
    
Public
    
Warrant
Liabilities
 
Fair value as of December 31, 2021
   $ 9,840,443      $ 10,122,569      $ 19,963,011  
Transfer to Level 1

 
 
—  

 
 
 
(10,122,569

)
 
 
 
(10,122,569

)
 
Change in fair value
     (5,332,300             (5,332,300
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value as of March 31, 2022
   $ 4,508,143      $      $ 4,508,143