Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
5 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Held To Maturity Securities The gross holding gains and fair value of
held-to-maturity
securities at December 31, 2020 are as follows:
 
  
Level
    
Amortized

Cost
    
Gross

Holding

Gain
    
Fair Value
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-Maturity Investments—U.S. Treasury Securities (Mature on
April 8, 2021)
     1      $ 400,085,021      $ 5,549      $ 400,090,570  
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrant Liability – Public Warrants
 
 
1
 
 
 
 
 
 
 
 
 
30,800,000
 
Warrant Liability – Private Placement
 
 
2
 
 
 
 
 
 
 
 
 
16,170,000
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Fair Value Measurement Inputs and Valuation Techniques
The following table presents the quantitative information regarding Level 3 fair value measurements:
 
 
  
At

October 5, 2020
(Initial
measurement)
 
Unit price
  
$
9.95
 
Term to initial business combination (in years)
  
 
1.0
 
Volatility
  
 
16.5
Risk-free rate
  
 
0.44
Dividend yield
  
 
0.0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents the changes in the fair value of Level 3 warrant liabilities:
 
 
  
Private
Placement
 
  
Public
 
  
Warrant
Liabilities
 
Fair value as of July 29, 2020
  
$
—  
 
  
$
—  
 
  
$
—  
 
Initial measurement on October 5, 2020
  
 
9,660,000
 
  
 
18,400,000
 
  
 
28,060,000
 
Transfer to Level 1
  
 
—  
 
  
 
(30,800,000
  
 
(30,800,000
Transfer to Level 2
  
 
(16,170,000
  
 
—  
 
  
 
(16,170,000
Change in fair value
  
 
6,510,000
 
  
 
12,400,000
 
  
 
18,910,000
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Fair value as of December 31, 2020
  
$
—  
 
  
$
—  
 
  
$
—