v3.22.2.2
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

 

March 31, 2022

 

       Quoted Prices in Active Markets   Significant Other Observable Inputs   Significant Other Unobservable Inputs 
   Level   (Level 1)   (Level 2)   (Level 3) 
                 
Assets:                    
U.S. Treasury Securities   1   $116,726,356  

$

—   $— 
                     
Liabilities:                    
Warrant Liabilities- Private Warrants   3   $—   $—   $67,203 

 

December 31, 2021

 

       Quoted Prices in Active Markets   Significant Other Observable Inputs   Significant Other Unobservable Inputs 
   Level   (Level 1)   (Level 2)   (Level 3) 
                 
Assets:                    
U.S. Treasury Securities   1   $116,725,099    —    — 
                     
Liabilities:                    
Warrant Liabilities- Private Warrants   3   $—   $—   $114,570 
Schedule of Estimated Fair Value of Warrant Liabilities

 

  

As of

March 31,

2022

  

As of 

December 31,
2021

 
Exercise price  $5.75   $5.75 
Market price of public stock  $4.96   $4.68 
Volatility   4.8%   9.1%
Risk-free rate   2.41%   1.22%
Dividend yield   0.0%   0.0%
Schedule of Changes in Fair Value of Warrant Liabilities

The following table presents the changes in the fair value of warrant liabilities:

 

   Private
Placement
Warrants		 
January 1, 2022  $114,570 
Change in valuation inputs or other assumptions   (47,367)
Fair value as of March 31, 2022  $67,203