| Summary of assets and liabilities that are measured at fair value on a recurring basis |
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Fair Value measured as of June 30, 2021 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
Cash and Marketable Securities Held in Trust |
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$ |
500,010,358 |
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$ |
— |
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$ |
— |
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$ |
500,010,358 |
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Warrant derivative liability |
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Public Warrants |
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$ |
45,000,000 |
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$ |
— |
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$ |
— |
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$ |
45,000,000 |
Sponsor Warrants |
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— |
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— |
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|
29,840,000 |
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|
29,840,000 |
Total Warrant derivative liability |
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$ |
45,000,000 |
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$ |
— |
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$ |
29,840,000 |
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$ |
74,840,000 |
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Fair Value measured as of December 31, 2020 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
Cash and Marketable Securities Held in Trust |
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$ |
500,078,624 |
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$ |
— |
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$ |
— |
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$ |
500,078,624 |
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Warrant derivative liability |
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Public Warrants |
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$ |
37,000,000 |
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$ |
— |
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$ |
— |
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$ |
37,000,000 |
Sponsor Warrants |
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— |
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|
18,720,000 |
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— |
|
|
18,720,000 |
Total Warrant derivative liability |
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$ |
37,000,000 |
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$ |
18,720,000 |
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$ |
— |
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$ |
55,720,000 |
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| Schedule of changes in fair value of our warrant derivative Liability |
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Level 3 Derivative |
December 31, 2020 |
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$ |
— |
Transfer into Level 3 |
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|
18,720,000 |
Loss on derivative liability |
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|
960,000 |
Balance March 31, 2021 |
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$ |
19,680,000 |
Loss on derivative liability |
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|
10,160,000 |
Balance June 30, 2021 |
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$ |
29,840,000 |
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