Recurring Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

The carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities on March 31, 2021 are as follows:


	Carrying Value/ Amortized Cost		Interest Income		Gross Unrealized Gain		Fair Value as of March 31, 2021
U.S. Money Market	$	95	$	—	$	—	$	95
U.S. Treasury Securities		166,271,977		28,458		14,143		166,286,120

	$	166,272,072	$	28,458	$	14,143	$	166,286,215

The carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities on December 31, 2020 are as follows:


	Carrying Value/ Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value as of December 31, 2020
U.S. Money Market	$	95	$	—	$	—		$	95
U.S. Treasury Securities		166,243,519		10,751		(12,968	)		166,230,551

	$	166,243,614	$	10,751	$	(12,968	)	$	166,230,646

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:


Input	December 31, 2020			March 31, 2021
Risk-free interest rate		0.43	%		0.98	%
Expected term (years)		5.0			5.25
Expected volatility		40.0	%		26.5	%
Exercise price	$	11.50		$	11.50
Probability of completing a Business Combination		80	%		N/A
Dividend yield		0	%		0	%
Expected stock price at De-SPAC	$	10.00		$	10.00

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:


Fair value at December 31, 2020	$	36,549,753
Public Warrants reclassified to level 2 (1)		(17,933,496	)
Change in fair value		(445,665	)
Fair Value at March 31, 2021	$	18,170,592

(1)	Assumes the Public Warrants were reclassified on March 31, 2021.

Fair Value, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

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:


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets
Investments held in Trust Account—U.S. Money Market	$	95	$	—	$	—
Investments held in Trust Account—U.S. Treasury	$	166,286,120	$	—	$	—
Liabilities
Public Warrants	$	—	$	17,933,496	$	—
Private Warrants	$	—	$	—	$	18,170,592