Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements

v3.21.1
Fair Value Measurements
5 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 7 — Fair Value Measurements


The Company follows the guidance in FASB ASC Topic 820, “Fair Value Measurements”, for its financial assets and liabilities that are re-measured and reported in fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of December 31, 2020 by level within the fair value hierarchy:


Description   Quoted Prices in
Active Markets
(Level 1)
    Significant
Other Observable
Inputs (Level 2)
    Significant Other
Unobservable
Inputs (Level 3)
 
Assets held in Trust Account:                  
U.S. Treasury Bills maturing January 5, 2021   $ 230,000,000     $ -     $ -  
Money market fund     7,668                  
Total   $ 230,000,000     $ -     $ -  

Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period. There were no transfers between levels for the period from August 6, 2020 (inception) through December 31, 2020.