FAIR VALUE MEASUREMENTS (Tables)
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6 Months Ended |
12 Months Ended |
Jun. 30, 2021 |
Dec. 31, 2020 |
FAIR VALUE MEASUREMENTS |
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Schedule of gross holding losses and fair value of held-to-maturity securities |
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Gross |
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Amortized |
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Holding |
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Held-To-Maturity |
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Level |
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Cost |
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Gains |
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Fair Value |
June 30, 2021 |
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Liquid Treasury Money Market Fund |
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1 |
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$ |
139,188,838 |
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$ |
0 |
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$ |
139,188,838 |
December 31, 2020 |
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U.S. Treasury Securities (Matured on 01/07/2021) (1) |
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1 |
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$ |
139,152,937 |
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$ |
2,063 |
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$ |
139,155,000 |
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Schedule of assets and liabilities that are measured at fair value on a recurring basis |
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Fair value at |
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Fair value at |
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December 31, |
Liabilities: |
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Warrant Liabilities |
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Level |
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June 30, 2021 |
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2020 |
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Warrant Liability |
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3 |
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$ |
12,330,000 |
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$ |
3,452,400 |
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Convertible Promissory Notes – Related Party |
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3 |
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1,350,000 |
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500,000 |
(1) |
The Company notes that the U.S. Treasury Securities were reinvested with the funds from the previously matured securities |
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Gross |
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Amortized |
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Holding |
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Assets: |
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Held-To-Maturity Securities |
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Level |
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Cost |
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Gains |
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Fair Value |
December 31, 2020 |
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U.S. Treasury Securities (Matured on 01/07/2021)(1) |
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1 |
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$ |
139,152,937 |
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$ |
2,063 |
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$ |
139,155,000 |
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December 31, 2019 |
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U.S. Treasury Securities (Matured on 4/16/2020) |
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1 |
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$ |
138,414,259 |
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$ |
26,719 |
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$ |
138,440,978 |
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December 31, |
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December 31, |
Liabilities: |
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Warrant Liabilities |
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Level |
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2020 |
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2019 |
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Private Placement Warrants |
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3 |
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$ |
3,452,400 |
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$ |
1,972,800 |
(1) |
The company notes that the U.S. Treasury Securities were reinvested with the funds from the previously matured securities |
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Schedule of key inputs |
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Input |
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June 30, 2021 |
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December 31, 2020 |
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Risk-free interest rate |
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0.80 |
% |
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0.28 |
% |
Dividend yield |
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0.00 |
% |
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0.00 |
% |
Implied volatility |
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40.04 |
% |
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15.4 |
% |
Exercise price |
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$ |
11.50 |
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$ |
11.50 |
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Market Stock Price |
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$ |
10.00 |
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$ |
10.20 |
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October 22, 2019 |
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(Initial |
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December |
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December |
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Input |
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Measurement) |
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31, 2019 |
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31, 2020 |
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Risk-free interest rate |
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1.61 |
% |
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1.70 |
% |
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0.28 |
% |
Dividend yield |
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0.00 |
% |
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0.00 |
% |
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0.00 |
% |
Implied volatility |
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7.3 |
% |
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8.6 |
% |
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15.4 |
% |
Exercise price |
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$ |
11.50 |
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$ |
11.50 |
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$ |
11.50 |
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Market Stock Price |
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$ |
9.80 |
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$ |
9.80 |
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$ |
10.20 |
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Schedule of changes in the fair value of warrant liabilities |
The following table presents the changes in the fair value of warrant liabilities:
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Private Placement |
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Warrants |
Fair value as of December 31, 2020 |
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$ |
3,452,400 |
Change in valuation inputs or other assumptions |
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8,877,600 |
Fair value as of June 30, 2021 |
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$ |
12,330,000 |
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Private Placement |
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Warrants |
Fair value as of October 22, 2019 |
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$ |
— |
Initial measurement on October 22, 2019 (IPO) |
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1,356,300 |
Change in valuation inputs or other assumptions |
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616,500 |
Fair value as of December 31, 2019 |
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1,972,800 |
Change in valuation inputs or other assumptions |
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1,479,600 |
Fair value as of December 31, 2020 |
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$ |
3,452,400 |
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