General form of registration statement for all companies including face-amount certificate companies

FAIR VALUE MEASUREMENTS (Tables)

v3.21.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
FAIR VALUE MEASUREMENTS    
Summary of assets that are measured at fair value on a recurring basis

 

 

 

 

 

 

 

 

 

 

    

 

    

March 31, 

    

December 31, 

Description

    

Level

    

2021

    

2020

Assets:

 

  

 

 

  

 

 

  

Marketable securities held in Trust Account

 

 1

 

$

276,947,475

 

$

276,943,339

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Warrant Liability - Public Warrants

 

 1

 

 

22,916,668

 

 

22,366,667

Warrant Liability - Private Placement Warrants

 

 3

 

 

14,700,000

 

 

14,400,000

 

 
Schedule of assets that are measured at fair value on a recurring basis  

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

Description

    

Level

    

2020

    

2019

Assets:

 

  

 

 

 

 

 

 

Marketable securities held in Trust Account

 

1

 

$

276,943,339

 

$

276,261,596

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Warrant Liability – Public Warrants

 

1

 

 

22,366,667

 

 

9,716,667

Warrant Liability – Private Placement Warrants

 

3

 

 

14,400,000

 

 

6,400,000

 

Schedule of changes in the fair value of warrant liabilities

 

 

 

 

 

 

 

 

 

 

 

    

Private

    

 

    

Warrant

 

 

Placement

 

Public

 

Liabilities

Fair value as of Janaury 1, 2021

 

$

14,400,000

 

$

22,366,667

 

$

36,766,667

Change in fair value of warrant liabilities

 

 

300,000

 

 

550,001

 

 

850,001

Fair value as of March 31, 2021

 

$

14,700,000

 

$

22,916,668

 

$

37,616,668

 

 

 

 

 

 

 

 

 

 

 

 

    

Private 

    

 

 

    

Warrant 

 

 

Placement

 

Public

 

Liabilities

Fair value –

 

$

 —

 

$

 —

 

$

 —

Initial measurement on September 17, 2019 (IPO)

 

 

7,300,000

 

 

11,000,000

 

 

18,300,000

Change in valuation inputs or other assumptions

 

 

(900,000)

 

 

(1,283,333)

 

 

(2,183,333)

Fair value as of December 31, 2019

 

$

6,400,000

 

$

9,716,667

 

$

16,116,667

Change in valuation inputs or other assumptions

 

 

8,000,000

 

 

12,650,000

 

 

20,650,000

Fair value as of December 31, 2020

 

$

14,400,000

 

$

22,366,667

 

$

36,766,667

 

Schedule of the key inputs into the Monte Carlo simulation model for the Private Placement Warrants and Public Warrants

 

 

 

 

 

 

 

 

Input

 

March 31, 2021

 

December 31, 2020

 

Risk-free interest rate

    

 

0.96

%

 

0.42

%

Risky Drift

 

 

 5

%

 

 5

%

Expected term (years)

 

 

 5

 

 

 5

 

Expected volatility

 

 

40.0

%

 

40.0

%

Exercise price

 

$

11.50

 

$

11.50

 

 

 

 

 

 

 

 

    

September 19, 

 

 

 

2019 

 

 

 

(Initial

 

Input

 

Measurement)

 

Risk-free interest rate

 

 

1.7

%

Expected term (years)

 

 

1.5

 

Expected volatility

 

 

40.0

%

Exercise price

 

$

11.60

 

Fair value of Units

 

$

7.66