Recurring Fair Value Measurements (Tables)
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3 Months Ended |
5 Months Ended |
Mar. 31, 2021 |
Dec. 31, 2020 |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
| Summary of Held To Maturity Securities |
The carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities on March 31, 2021 are as follows:
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Carrying
Value/
Amortized
Cost |
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Interest
Income |
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Gross
Unrealized
Gain |
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|
Fair Value
as of
March 31,
2021 |
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|
$ |
95 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
95 |
|
|
|
|
166,271,977 |
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|
28,458 |
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|
14,143 |
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|
166,286,120 |
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| |
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$ |
166,272,072 |
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$ |
28,458 |
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|
$ |
14,143 |
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|
$ |
166,286,215 |
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| |
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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 |
|
|
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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$ |
95 |
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|
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|
166,243,519 |
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|
10,751 |
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|
(12,968 |
) |
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|
166,230,551 |
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| |
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| |
|
$ |
166,243,614 |
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|
$ |
10,751 |
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|
$ |
(12,968 |
) |
|
$ |
166,230,646 |
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| |
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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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|
|
|
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| |
|
Carrying
Value/Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value
as of
December 31,
2020 |
|
|
|
$ |
95 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
95 |
|
|
|
|
166,243,519 |
|
|
|
10,751 |
|
|
|
(12,968 |
) |
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|
166,230,551 |
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| |
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| |
|
$ |
166,243,614 |
|
|
$ |
10,751 |
|
|
$ |
(12,968 |
) |
|
$ |
166,230,646 |
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| |
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| Summary of Key Inputs in Monte Carlo simulation model |
The key inputs into the modified Black Scholes model were as follows at December 31, 2020 and at March 31, 2021:
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December 31, 2020 |
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|
March 31, 2021 |
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|
0.43 |
% |
|
|
0.98 |
% |
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|
5.0 |
|
|
|
5.25 |
|
|
|
|
40.0 |
% |
|
|
26.5 |
% |
|
|
$ |
11.50 |
|
|
$ |
11.50 |
|
Probability of completing a Business Combination |
|
|
80 |
% |
|
|
N/A |
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|
0 |
% |
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|
0 |
% |
Expected stock price at De-SPAC
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|
$ |
10.00 |
|
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$ |
10.00 |
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|
The key inputs into the Monte Carlo simulation model and the modified Black-Scholes model were as follows at initial measurement and at December 31, 2020:
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November 27, 2020
(Initial Measurement) |
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|
December 31, 2020 |
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0.44 |
% |
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|
0.43 |
% |
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|
5.0 |
|
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|
5.0 |
|
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|
40.0 |
% |
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|
40.0 |
% |
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$ |
11.50 |
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$ |
11.50 |
|
Probability of completing a Business Combination |
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Expected stock price at De-SPAC |
|
$ |
10.00 |
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|
$ |
10.00 |
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| Summary of Change in Fair Value of Warrant Liabilities |
The following table provides a reconciliation of changes in fair value of the beginning and ending balances for our Warrants classified as Level 3:
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Fair value at December 31, 2020 |
|
$ |
36,549,753 |
|
Public Warrants reclassified to level 2 (1)
|
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|
(17,933,496 |
) |
|
|
|
(445,665 |
) |
Fair Value at March 31, 2021 |
|
$ |
18,170,592 |
|
| (1) |
Assumes the Public Warrants were reclassified on March 31, 2021. |
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The change in the fair value of the warrant liabilities for the period ended December 31, 2020 is summarized as follows:
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Fair value at issuance November 27, 2020 |
|
$ |
36,549,753 |
|
|
|
|
— |
|
Fair Value at December 31, 2020 |
|
$ |
36,549,753 |
|
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| Fair Value, Recurring [Member] |
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| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
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| Summary of Financial Assets and Liabilities at Fair Value on Recurring Basis |
The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis:
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Quoted Prices in
Active Markets |
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Significant
Other
Observable
Inputs |
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Significant
Other
Unobservable
Inputs |
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Investments held in Trust Account—U.S. Money Market |
|
$ |
95 |
|
|
$ |
— |
|
|
$ |
— |
|
Investments held in Trust Account—U.S. Treasury |
|
$ |
166,286,120 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
$ |
— |
|
|
$ |
17,933,496 |
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|
$ |
— |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
18,170,592 |
|
|
The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis:
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| |
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Quoted Prices in
Active Markets
(Level 1)
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Significant Other
Observable
Inputs
(Level 2)
|
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Significant
Other
Unobservable
Inputs
(Level 3)
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Investments held in Trust Account—U.S. Money Market |
|
$ |
95 |
|
|
$ |
— |
|
|
$ |
— |
|
Investments held in Trust Account—U.S. Treasury |
|
$ |
166,230,551 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
17,605,944 |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
18,943,809 |
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|