Note 6 — Investment Held in Trust Account
As of December 31, 2020, the investments in the Company’s Trust Account consisted of $95 in U.S. Money Market funds and $166,243,519 in U.S. Treasury Securities. All of the U.S. Treasury Securities mature on May 27, 2021. The Company classifies its United States Treasury securities as in accordance with FASB ASC 320 “Investments — Debt and Equity Securities”. treasury securities are recorded at amortized cost and adjusted for the amortization or accretion of premiums or discounts. The Company considers all investments with original maturities of more than three months but less than one year to be short-term investments. The carrying value approximates the fair value due to its short-term maturity. The carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities on December 31, 2020 are as follows:
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Carrying
Value/Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair Value
as of
December 31,
2020 |
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$ |
95 |
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$ |
— |
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$ |
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$ |
95 |
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166,243,519 |
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10,751 |
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166,230,551 |
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$ |
166,243,614 |
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$ |
10,751 |
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$ |
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$ |
166,230,646 |
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