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
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities that are measured at fair value on a recurring basis
The following table presents fair value information as of September 30, 2022 and December 31, 2021, of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.
 
September 30, 2022
  
Level 1
    
Level 2
    
Level 3
 
Assets
                          
Investments held in Trust Account
   $ 353,999,697      $ —        $ —    
    
 
 
    
 
 
    
 
 
 
Total Assets
   $ 353,999,697      $ —        $ —    
    
 
 
    
 
 
    
 
 
 
Liabilities
                          
Public Warrants
   $ 1,897,500      $ —        $ —    
Private Warrants
     —          —          1,922,784  
    
 
 
    
 
 
    
 
 
 
Total Liabilities
   $ 1,897,500      $ —        $ 1,922,784  
    
 
 
    
 
 
    
 
 
 
       
December 31, 2021
  
Level 1
    
Level 2
    
Level 3
 
Assets
                          
Investments held in Trust Account
   $ 351,900,888      $ —        $ —    
    
 
 
    
 
 
    
 
 
 
Total Assets
   $ 351,900,888      $ —        $ —    
    
 
 
    
 
 
    
 
 
 
Liabilities
                          
Public Warrants
   $ —        $ —        $ 10,122,569  
Private Warrants
     —          —          9,840,442  
    
 
 
    
 
 
    
 
 
 
Total Liabilities
   $ —        $ —        $ 19,963,011  
    
 
 
    
 
 
    
 
 
 
Summary of simulation model for the private placement warrants and public warrants
The following table provides quantitative information regarding Level 3 fair value measurements:
 
    
September 30,
2022
   
December 31,
2021
 
Share price
   $ 10.09     $ 9.60  
Strike price
     11.50     $ 11.50  
Term (in years)
     5.67       6.21  
Volatility
     4.7     10.4
Risk-free rate
     4.03     1.37
Dividend yield
     0       0  
Summary Of Reconciliation Of Changes In Fair Value Of warrant Liabilities
The following table presents the changes in the fair value of Level 3 warrant liabilities:
 
    
Private
Placement
    
Public
    
Warrant
Liabilities
 
Fair value as of December 31, 2021
   $ 9,840,442      $ 10,122,569      $ 19,963,011  
Transfer to Level 1
     —          (10,122,569      (10,122,569
Change in fair value
     (5,332,300      —          (5,332,300
    
 
 
    
 
 
    
 
 
 
Fair value as of March 31, 2022
     4,508,142        —          4,508,142  
Change in fair value
     (1,410,263      —          (1,410,263
    
 
 
    
 
 
    
 
 
 
Fair value as of June 30, 2022
     3,097,879        —          3,097,879  
Change in fair value
     (1,175,095      —          (1,175,095
    
 
 
    
 
 
    
 
 
 
Fair value as of September 30, 2022
  
$
1,922,784
 
  
$
—  
 
  
$
1,922,784