Annual report pursuant to Section 13 and 15(d)

Recurring Fair Value Measurements (Tables)

v3.21.1
Recurring Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of fair value of held to maturity securities

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   $ 379     $ -     $ -     $ 379  
U.S. Treasury Securities     116,162,094       1,154       -       116,163,248  
    $ 116,162,473     $ 1,154     $         -     $ 116,163,627  
Schedule of assets and liabilities 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 December 31, 2020, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

 

    December 31,     Quoted
Prices In
Active
Markets		     Significant
Other
Observable
Inputs		     Significant
Other
Unobservable
Inputs		  
    2020     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
U.S. Money Market held in Trust Account   $ 379     $ 379     $             -     $ -  
U.S. Treasury Securities held in Trust Account     116,162,094       116,162,094       -       -  
    $ 116,162,473     $ 116,162,473     $ -     $ -  
Liabilities:                                
Warrant Liability   $ 12,372,000     $ -     $ -     $ 12,372,000  
    $ 12,372,000     $ -     $ -     $ 12,372,000  
Schedule of the fair value of the warrant liability

The following table sets forth a summary of the changes in the fair value of the warrant liability for the period from August 20,2020 (inception) through December 31, 2020:

 

    Warrant Liability  
Fair value as of August 20, 2020   $ —  
Initial fair value of warrant liability upon issuance at IPO     15,380,000  
Initial fair value of warrant liability upon issuance at over-allotment     2,260,200  
Revaluation of warrant liability included in other income within the statement of income for the period from August 20,2020 (inception) through December 31, 2020     (5,268,200 )
Fair value as of December 31, 2020   $ 12,372,000