Quarterly report pursuant to Section 13 or 15(d)

Recurring Fair Value Measurements (Tables)

v3.22.2.2
Recurring Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2022
Recurring Fair Value Measurements  
Summary of assets and liabilities that were measured at fair value on a recurring basis

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of September 30, 2022 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

    

Level 1

    

Level 2

    

Level 3

Assets:

 

  

 

  

 

  

U.S. Money Market held in Trust Account

$

266,693,693

$

$

$

266,693,693

$

$

Liabilities:

 

  

 

  

 

  

Public Warrants

$

3,264,853

$

$

Private Placement Warrants

2,340,261

$

3,264,853

$

2,340,261

$

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2021 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

    

Level 1

    

Level 2

    

Level 3

Assets:

U.S. Money Market held in Trust Account

$

265,155,619

$

$

$

265,155,619

$

$

Liabilities:

 

  

 

  

 

  

Public Warrants

$

5,174,178

$

$

Private Placement Warrants

3,265,830

$

5,174,178

$

$

3,265,830

Summary of quantitative information regarding Level 3 fair value measurements

    

December 31,

 

2021

 

Share price

$

9.69

Strike price

$

11.50

Term (in years)

 

5.50

Volatility

 

10.7

%

Risk-free rate

 

1.30

%

Dividend yield

 

0

%

Summary of reconciliation of changes in fair value liability of the beginning and ending balances for the Company's Warrants

Fair value at December 31, 2021

    

$

3,265,830

Change in fair value

 

155,234

Private Placement Warrants reclassified to level 2(1)

(3,421,064)

Fair Value at September 30, 2022

$

(1) Assumes the Private Warrants were reclassified on June 30, 2022