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Independence (ACQR)

Cover Page

Cover Page - shares3 Months Ended
Mar. 31, 2021May 13, 2021
Document Information [Line Items]
Document Type10-Q
Amendment Flagfalse
Document Period End DateMar. 31,
2021
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Central Index Key0001837393
Current Fiscal Year End Date--12-31
Entity Registrant NameIndependence Holdings Corp.
Entity Filer CategoryNon-accelerated Filer
Entity Shell Companytrue
Entity Emerging Growth Companytrue
Entity Small Businesstrue
Document Quarterly Reporttrue
Document Transition Reportfalse
Entity Interactive Data CurrentYes
Entity Current Reporting StatusYes
Entity Address, State or ProvinceNY
Entity Incorporation, State or Country CodeE9
Entity Ex Transition Periodfalse
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) SecurityClass A ordinary shares, par value $0.0001 per share
Trading SymbolACQR
Security Exchange NameNASDAQ
Entity Common Stock, Shares Outstanding49,590,908
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding12,397,727
Capital Units [Member]
Document Information [Line Items]
Title of 12(b) SecurityUnits, each consisting of one Class A ordinary share, par value $0.0001, and one-fifth of one redeemable warrant
Trading SymbolACQRU
Security Exchange NameNASDAQ
Warrant [Member]
Document Information [Line Items]
Title of 12(b) SecurityRedeemable warrants, each warrant exercisable for one Class A ordinary share, each at an exercise price of $11.50 per share
Trading SymbolACQRW
Security Exchange NameNASDAQ

Condensed Balance Sheet

Condensed Balance Sheet - USD ($)Mar. 31, 2021Dec. 31, 2020
Current assets:
Cash $ 1,676,347 $ 0
Prepaid expenses1,416,960 13,162
Total current assets3,093,307 13,162
Investments held in Trust Account495,914,245
Deferred offering costs associated with initial public offering111,335
Total Assets499,007,552 124,497
Current liabilities:
Accounts payable117,985 52,989
Accrued expenses73,698 58,385
Note payable - related party4,053
Total current liabilities191,683 115,427
Deferred underwriting commissions17,356,818
Derivative warrant liabilities18,047,120
Total liabilities35,595,621 115,427
Commitments and Contingencies
Class A ordinary shares; 45,841,193 and -0- shares subject to possible redemption at $10.00 per share at March 31, 2021 and December 31, 2020, respectively458,411,930
Shareholders' Equity:
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding at March 31, 2021 and December 31, 2020
Additional paid-in capital2,711,759 23,749
Retained earnings (Accumulated deficit)2,286,616 (15,930)
Total shareholders' equity5,000,001 9,070
Total Liabilities and Shareholders' Equity499,007,552 124,497
Common Class A [Member]
Shareholders' Equity:
Common stock375
Total shareholders' equity375
Common Class B [Member]
Shareholders' Equity:
Common stock[1]1,251 1,251
Total shareholders' equity $ 1,251 $ 1,251
[1]This number included up to 1,631,250 Class B ordinary shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. On March 9, 2021, the underwriters partially exercised the over-allotment option to purchase an additional 6,090,908 Units; leaving only 108,523 Class B ordinary shares remain subject to forfeiture. On April 22, 2021, the underwriters’ over-allotment option expired, and the Sponsor forfeited 108,523 shares of Class B ordinary shares accordingly.

Condensed Balance Sheet (Parent

Condensed Balance Sheet (Parenthetical) - $ / shares3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Preferred stock par or stated value per share $ 0.0001 $ 0.0001
Preferred stock shares authorized5,000,000 5,000,000
Preferred stock shares issued0 0
Preferred stock shares outstanding0 0
Common Class A [Member]
Stock shares issued during the period shares49,590,908
Temporary equity shares outstanding45,841,193 0
Temporary equity redemption price per share $ 10 $ 10
Common stock par or stated value per share $ 0.0001 $ 0.0001
Common stock shares authorized500,000,000 500,000,000
Common stock shares issued3,749,715 0
Common stock shares outstanding3,749,715 0
Common Class B [Member]
Common stock par or stated value per share $ 0.0001 $ 0.0001
Common stock shares authorized50,000,000 50,000,000
Common stock shares issued12,506,250 12,506,250
Common stock shares outstanding12,506,250 12,506,250
Over-Allotment Option [Member] | Common Class B [Member]
Stock shares issued during the period shares6,090,908

Condensed Statements of Operati

Condensed Statements of Operations3 Months Ended
Mar. 31, 2021USD ($)$ / sharesshares
General and administrative expenses $ 100,230
Administrative expenses - related party7,419
Loss from operations(107,649)
Change in fair value of derivative warrant liabilities3,039,510
Financing costs – derivative warrant liabilities(634,480)
Interest income from investments held in Trust Account5,165
Net income $ 2,302,546
Class A Common Stock Subject To Possible Redemption [Member]
Basic and diluted weighted average shares outstanding | shares45,559,508
Basic and diluted net income per share | $ / shares $ 0
Non Redeemable Common Stock [Member]
Basic and diluted weighted average shares outstanding | shares12,154,044
Basic and diluted net income per share | $ / shares $ 0.19

Condensed Statements of Opera_2

Condensed Statements of Operations (Parenthetical) - sharesApr. 22, 2021Mar. 11, 2021Mar. 09, 2021Mar. 31, 2021
Common Class B [Member]
Common stock shares subject to forfeiture108,523
Over-Allotment Option [Member]
Sale of units in initial public offering, gross , Shares6,090,908
Over-Allotment Option [Member] | Common Class B [Member]
Sale of units in initial public offering, gross , Shares6,090,908 6,090,908
Common stock shares subject to forfeiture108,523
Over-Allotment Option [Member] | Common Class B [Member] | Subsequent Event [Member]
Common stock shares subject to forfeiture108,523

Condensed Statement of Changes

Condensed Statement of Changes In Shareholders' Equity - 3 months ended Mar. 31, 2021 - USD ($)TotalAdditional Paid-in Capital [Member]Retained Earnings [Member]Common Class A [Member]Common Class B [Member]
Beginning Balance at Dec. 31, 2020 $ 9,070 $ 23,749 $ (15,930) $ 1,251
Beginning Balance , Shares at Dec. 31, 2020[1]12,506,250
Sale of units in initial public offering, less fair value of public warrants484,899,900 484,894,941 $ 4,959
Sale of units in initial public offering, less fair value of public warrants , Shares49,590,908
Offering costs(27,340,317)(27,340,317)
Excess of cash received over fair value of private placement warrant3,540,732 3,540,732
Shares subject to possible redemption(458,411,930)(458,407,346) $ (4,584)
Shares subject to possible redemption , Shares(45,841,193)
Net income2,302,546 2,302,546
Ending Balance at Mar. 31, 2021 $ 5,000,001 $ 2,711,759 $ 2,286,616 $ 375 $ 1,251
Ending Balance , Shares at Mar. 31, 20213,749,715 12,506,250 [1]
[1]This number included up to 1,631,250 Class B ordinary shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. On March 9, 2021, the underwriters partially exercised the over-allotment option to purchase an additional 6,090,908 Units; leaving only 108,523 Class B ordinary shares remain subject to forfeiture. On April 22, 2021, the underwriters’ over-allotment option expired, and the Sponsor forfeited 108,523 shares of Class B ordinary shares accordingly.

Condensed Statement of Change_2

Condensed Statement of Changes In Shareholders' Equity (Parenthetical) - sharesApr. 22, 2021Mar. 11, 2021Mar. 09, 2021Mar. 31, 2021
Common Class B [Member]
Common stock shares subject to forfeiture108,523
Over-Allotment Option [Member]
Stock shares issued during the period shares6,090,908
Over-Allotment Option [Member] | Common Class B [Member]
Stock shares issued during the period shares6,090,908 6,090,908
Common stock shares subject to forfeiture108,523
Over-Allotment Option [Member] | Common Class B [Member] | Subsequent Event [Member]
Common stock shares subject to forfeiture108,523

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows3 Months Ended
Mar. 31, 2021USD ($)
Cash Flows from Operating Activities:
Net income $ 2,302,546
Adjustments to reconcile net income to net cash used in operating activities:
Interest income from investments held in Trust Account(5,165)
Change in fair value of derivative warrant liabilities(3,039,510)
Financing costs - derivative warrant liabilities634,480
Changes in operating assets and liabilities:
Prepaid expenses(1,403,798)
Accounts payable102,496
Accrued expenses3,698
Net cash used in operating activities(1,405,253)
Cash Flows from Investing Activities:
Cash deposited in Trust Account(495,909,080)
Net cash used in investing activities(495,909,080)
Cash Flows from Financing Activities:
Repayment of note payable to related party(170,558)
Proceeds received from initial public offering, gross495,909,080
Proceeds received from private placement13,618,182
Offering costs paid(10,366,024)
Net cash provided by financing activities498,990,680
Net increase in cash1,676,347
Cash - beginning of the period0
Cash - ending of the period1,676,347
Supplemental disclosure of noncash investing and financing activities:
Initial valuation of derivative warrant liability21,086,630
Offering costs included in accrued expenses70,000
Offering costs paid by related party under promissory note129,005
Reversal of accrued expenses58,385
Outstanding accounts payable balance paid by related party under note payable37,500
Deferred underwriting commissions17,356,818
Initial value of Class A ordinary shares subject to possible redemption455,454,240
Change in value of Class A ordinary shares subject to possible redemption $ 2,957,690

Description of Organization And

Description of Organization And Going Concern3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Organization And Going ConcernNOTE 1. DESCRIPTION OF ORGANIZATION AND GOING CONCERN Independence Holdings Corp. (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on December 7, 2020. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses that the Company has not yet identified (herein referred to as “Initial Business Combination”). As of March 31, 2021, the Company had not yet commenced operations. All activity for the period from December 7, 2020 (inception) through March 31, 2021 relates to the Company’s formation and the initial public offering (the “Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of its Initial Business Combination, at the earliest. The Company will generate non-operating The Company’s sponsor is Independence Sponsor LLC, a Cayman Islands limited liability company (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on March 8, 2021. On March 11, 2021, the Company consummated its Initial Public Offering of 49,590,908 units (the “Units” and, with respect to the Class A ordinary shares included in the Units being offered, the “Public Shares”), including 6,090,908 additional Units to partially cover over-allotments (the “Over-Allotment Units”), at $10.00 per Unit, generating gross proceeds of approximately $495.9 million, and incurring offering costs of approximately $28.0 million, of which approximately $17.4 million was for deferred underwriting commissions (Note 7 Simultaneously with the closing of the Initial Public Offering, the Company consummated the private placement (“Private Placement”) of 9,078,788 warrants (each, a “Private Placement Warrant” and collectively, the “Private Placement Warrants”), at a price of $1.50 per Private Placement Warrant with the Sponsor, generating gross proceeds of approximately $13.6 million (Note 5 Upon the closing of the Initial Public Offering and the Private Placement, approximately $495.9 million ($10.00 per Unit) of the net proceeds of the Initial Public Offering and certain of the proceeds of the Private Placement were placed in a trust account (“Trust Account”) with Continental Stock Transfer & Trust Company acting as trustee and invested in United States government treasury bills with a maturity of 185 days or less or in money market funds investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 The Company’s management has broad discretion with respect to the specific application of the net proceeds of its Initial Public Offering and the sale of Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating an Initial Business Combination. The Company’s Initial Business Combination must be with one or more operating businesses or assets with a fair market value equal to at least 80 50 The Company will provide its holders of Public Shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of an Initial Business Combination either (i) in connection with a general meeting called to approve the Initial Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of an Initial Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations, expenses relating to the administration of the trust account and limited withdrawals for working capital). The per-share 7 6 Notwithstanding the foregoing, the Company’s Amended and Restated Memorandum and Articles of Association provides that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Class A ordinary shares sold in the Initial Public Offering, without the prior consent of the Company. The Company’s Initial Shareholders, executive officers and directors agreed not to propose an amendment to the Company’s Amended and Restated Memorandum and Articles of Association that would affect the substance or timing of the Company’s obligation to provide for the redemption of its Public Shares in connection with an Initial Business Combination or to redeem 100% of its Public Shares if the Company does not complete an Initial Business Combination, unless the Company provides the Public Shareholders with the opportunity to redeem their Class A ordinary shares in conjunction with any such amendment. If the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Initial Public Offering, or March 11, 2023 (the “Combination Period”), the Company will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share 100,000 The Initial Shareholders agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete an Initial Business Combination within the Combination Period. However, if the Initial Shareholders should acquire Public Shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete an Initial Business Combination within the Combination Period. The underwriters agreed to waive their rights to their deferred underwriting commission (see Note 7 10.00 10.00 Liquidity and Capital Resources As of March 31, 2021, the Company had approximately $1.7 million in its operating bank account, and working capital of approximately $2.9 million. The Company’s liquidity needs to date have been satisfied through a payment of $25,000 from the Sponsor to pay for certain offering costs and expenses in exchange for issuance of the Founder Shares (as defined in Note 5 5 5 Based on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of an Initial Business Combination or one year from this filing. Over this time period, the Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective Initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Initial Business Combination. Risks and Uncertainties Management continues to evaluate the impact of the COVID-19

Revision of Previously Issued F

Revision of Previously Issued Financial Statements3 Months Ended
Mar. 31, 2021
Restatement Of Previously Issued Financial Statements [Abstract]
Revision of Previously Issued Financial StatementsNOTE 2. REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS In April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the SEC together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the SEC Statement”). Specifically, the SEC Statement focused on certain settlement terms and provisions related to certain tender offers following a business combination, which terms are similar to those contained in the warrant agreement governing the Company’s warrants. As a result of the SEC Statement, the Company reevaluated the accounting treatment of (i) the 9,918,182 redeemable warrants (the “Public Warrants”) that were included in the units issued by the Company in its Initial Public Offering and (ii) the 9,078,788 redeemable warrants that were issued to the Company’s sponsor in a private placement that closed concurrently with the closing of the Initial Public Offering together with the Public Warrants, the “Warrants”). The Company previously accounted for the Warrants as components of equity. In further consideration of the guidance in Accounting Standards Codification (“ASC”) 815-40, Derivatives and Hedging — Contracts in Entity’s Own Equity (“ASC 815”), the Company concluded that a provision in the warrant agreement related to certain tender or exchange offers precludes the Warrants from being accounted for as components of equity. As the Warrants meet the definition of a derivative as contemplated in ASC 815, the Warrants should be recorded as derivative liabilities on the balance sheet and measured at fair value at inception (on the date of the Initial Public Offering) and at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the Statements of Operations in the period of change. In accordance with ASC Topic 340, Other Assets and Deferred Costs, as a result of the classification of the Warrants as derivative liabilities, the Company expensed a portion of the offering costs originally recorded as a reduction in equity. The portion of offering costs that was expensed was determined based on the relative fair value of the Public Warrants and Class A ordinary shares included in the Units. The Company’s accounting for the warrants as components of equity instead of as derivative liabilities did not have any effect on the Company’s previously reported cash. The following tables summarize the effect of the revision on each financial statement line item as of the dates, and for the period, indicated: As of March 11, 2021 As Previously Adjustment As Corrected Derivative warrant liabilities $ — $ 21,086,630 $ 21,086,630 Total liabilities 17,918,408 21,086,630 39,005,038 Class A common stock, $0.0001 par value; shares subject to possible redemption 476,540,870 (21,086,630 ) 455,454,240 Class A common stock, $0.0001 par value 194 211 405 Additional paid-in-capital 5,042,876 634,269 5,677,145 Accumulated deficit (44,314 ) (634,480 ) (678,794 )

Summary of Significant Accounti

Summary of Significant Accounting Policies And Basis of Presentation3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies And Basis of PresentationNOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Basis of presentation The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected through December 31, 2021 or any future period. The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Current Report on Form 8-K and the final prospectus filed by the Company with the SEC on March 17, 2021 and March 11, 2021, respectively. In April 2021, the Company identified an error in its accounting treatment for both its public and private warrants (Warrants) as presented in its audited balance sheet as of March 11, 2021 included in its Current Report on Form 8-K. The Warrants were reflected as a component of equity as opposed to liabilities on the balance sheet. Pursuant to Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections issued by the Financial Accounting Standards Board (“FASB”) and Staff Accounting Bulletin 99, “Materiality”) (“SAB 99”) issued by the SEC, the Company determined the impact of the error was immaterial. The impact of the error correction is reflected in the unaudited condensed financial statements contained herein which resulted in a $21.1 million increase to the derivative warrant liabilities line item and offsetting decrease to the Class A ordinary shares subject to possible redemption mezzanine equity line item recorded as part of the activity in the three months ended March 31, 2021 as reported herein. There would have been no change to total stockholders’ equity as reported. Emerging growth company As an emerging growth company, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000, and investments held in Trust Account. At March 31, 2021, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents held outside the Trust Account as of March 31, 2021. Investments Held in Trust Account The Company’s portfolio of investments held in the Trust Account can be comprised of U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or investments in money market funds that invest in U.S. government securities, or a combination thereof. The Company’s investments held in the Trust Account are classified as trading securities. The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in interest income from investments held in Trust Account in the accompanying statement of operations. The estimated fair values of investments held in the Trust Account are determined using available market information. Fair Value of Financial Instruments Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: • Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; • Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and • Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. As of March 31, 2021, the carrying values of cash, prepaid expenses, accounts payable, and accrued expenses approximate their fair values due to the short-term nature of the instruments. As of March 31, 2021, the carrying values of cash, prepaid expenses, accounts payable, accrued expenses, and note payable – related party approximate their fair values due to the short-term nature of the instruments. The Company’s investments held in Trust Account is comprised of investments in U.S. Treasury securities with an original maturity of 185 days or less and are recognized at fair value. The fair value of investments in Trust Account is determined using quoted prices in active markets. Derivative Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and ASC 815-15. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. The 9,918,182 issued in connection with the Initial Public Offering (the “Public Warrants”) and the 9,078,788 Private Placement Warrants are recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s statement of operations. The fair value of the Public Warrants issued in connection with the Public Offering and Private Placement Warrants have been measured at fair value using a Monte Carlo simulation model. Offering Costs Associated with the Initial Public Offering Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs are allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities are expensed as incurred, presented as non-operating expenses in the statement of operations. Offering costs associated with the Class A ordinary shares were charged to stockholders’ equity upon the completion of the Initial Public Offering. Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) are classified as liability instruments and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, as of March 31, 2021 and December 31, 2020, 45,841,193 and -0- Class A ordinary shares subject to possible redemption are presented as temporary equity, respectively, outside of the shareholders’ equity section of the Company’s balance sheet. Net Income per Ordinary Share Net income per ordinary share is computed by dividing net income by the weighted-average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the warrants sold in the Initial Public Offering and Private Placement to purchase an aggregate of 18,996,969 shares in the calculation of diluted loss per share, since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The Company’s unaudited condensed statement of operations includes a presentation of income per ordinary share for ordinary shares subject to possible redemption in a manner similar to the two-class Net income per share, basic and diluted, for non-redeemable non-redeemable Non-redeemable non-redeemable Non-redeemable non-redeemable The following table reflects the calculation of basic and diluted net income per ordinary share: For The three Class A Ordinary shares subject to possible redemption Numerator: Earnings allocable to Ordinary shares subject to possible redemption Income from investments held in Trust Account $ 4,775 Less: Company’s portion available to be withdrawn to pay taxes - Net income attributable $ 4,775 Denominator: Weighted average Class A ordinary shares subject to possible redemption Basic and diluted weighted average shares outstanding 45,559,508 Basic and diluted net income per share $ 0.00 Non-Redeemable Ordinary shares Numerator: Net Income minus Net Earnings Net income $ 2,302,546 Net income allocable to Class A ordinary shares subject to possible redemption (4,775 ) Non-redeemable net income $ 2,297,771 Denominator: weighted average Non-redeemable ordinary shares Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares 12,154,044 Basic and diluted net income per share, Non-redeemable ordinary shares $ 0.19 Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statement. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Recent accounting pronouncements The Company’s management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

Initial Public Offering

Initial Public Offering3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Initial Public OfferingNOTE 4. INITIAL PUBLIC OFFERING On March 11, 2021, the Company consummated its Initial Public Offering of 49,590,908 Units, including 6,090,908 Over-Allotment Units, at $10.00 per Unit, generating gross proceeds of approximately $495.9 million, and incurring offering costs of approximately $28.0 million, of which approximately $17.4 million was for deferred underwriting commissions. Each Unit consists of one Class A ordinary share and one-fifth 7

Related Party Transactions

Related Party Transactions3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party TransactionsNOTE 5. RELATED PARTY TRANSACTIONS Founder Shares On December 11, 2020, the Sponsor paid an aggregate of $25,000 to cover for certain expenses on behalf of the Company in exchange for issuance of 11,500,000 Class B ordinary shares (the “Founder Shares”). In March 2021, the Company issued to the initial shareholders an additional 1,006,250 Founder Shares, resulting in the Sponsor holding an aggregate of 12,506,250 Founder Shares. The holders of the Founder Shares agreed to forfeit up to an aggregate of 1,631,250 Founder Shares, on a pro rata basis, to the extent that the option to purchase additional units was not exercised in full by the underwriters, so that the Founder Shares will represent 20% of the Company’s issued and outstanding shares after the Initial Public Offering. On March 9, 2021, the underwriters partially exercised the over-allotment option to purchase an additional 6,090,908 Units; leaving only 108,523 Class B ordinary shares remain subject to forfeiture. On April 22, 2021, the underwriters’ over-allotment option expired, and the Sponsor forfeited 108,523 shares of Class B ordinary shares accordingly. The Initial Shareholders agreed not to transfer, assign or sell any of their Founder Shares until the earlier to occur of (A) one 30-trading Private Placement Warrants Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of 9,078,788 Private Placement Warrants, at a price of $1.50 per Private Placement Warrant with the Sponsor, generating gross proceeds of approximately $13.6 million. Each whole Private Placement Warrant is exercisable for one whole Class A ordinary share at a price of $11.50 per share. A portion of the proceeds from the sale of the Private Placement Warrants to the Sponsor was added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete an Initial Business Combination within the Combination Period, the Private Placement Warrants will expire worthless. The Private Placement Warrants will be non-redeemable The Sponsor and the Company’s officers and directors agreed, subject to limited exceptions, not to transfer, assign or sell any of their Private Placement Warrants until 30 days after the completion of the Initial Business Combination. Related Party Loans On December 7, 2020, the Sponsor agreed to loan the Company up to $300,000 pursuant to a promissory note (the “Note”). The Note was non-interest In addition, in order to finance transaction costs in connection with an Initial Business Combination, the Sponsor, members of the Company’s founding team or any of their affiliates may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes an Initial Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that an Initial Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. The Working Capital Loans would either be repaid upon consummation of an Initial Business Combination, without interest, or, at the lenders’ discretion, up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post Initial Business Combination entity at a price of $1.50 per warrant. The warrants would be identical to the Private Placement Warrants. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. As of March 31, 2021 and December 31, 2020, the Company had no borrowings under the Working Capital Loans. Administrative Services Agreement Commencing on the date that the Company’s securities were first listed on Nasdaq until the earlier of the Company’s consummation of an Initial Business Combination or the Company’s liquidation, the Company agreed to pay affiliates of the Sponsor a total of $10,000 per month, in the aggregate, for office space, secretarial and administrative services provided to the Company. In addition, the Sponsor, executive officers and directors, or their respective affiliates will be reimbursed for any out-of-pocket

Commitments and Contingencies

Commitments and Contingencies3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesNOTE 6. COMMITMENTS AND CONTINGENCIES Registration and Shareholder Rights The holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of the Working Capital Loans and upon conversion of the Founder Shares) are entitled to registration rights pursuant to a registration and shareholder rights agreement signed simultaneously with the closing of the Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the Initial Business Combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company granted the underwriters a 45-day The underwriters were entitled to an underwriting discount of $0.20 per unit, or approximately $9.9 million in the aggregate, paid upon the closing of the Initial Public Offering. The underwriters are entitled to a deferred underwriting commission of $0.35 per unit, or approximately $17.4 million. The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes an Initial Business Combination, subject to the terms of the underwriting agreement.

Derivative Warrant Liabilities

Derivative Warrant Liabilities3 Months Ended
Mar. 31, 2021
Derivative Warrant Liabilities [Abstract]
Derivative Warrant LiabilitiesNOTE 7. DERIVATIVE WARRANT LIABILITIES As of March 31, 2021, the Company had 9,918,182 Public Warrants and 9,078,788 Private Warrants outstanding. Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the Units and only whole Public Warrants will trade. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of an Initial Business Combination or (b) 12 months from the closing of the Initial Public Offering; provided in each case that the Company has an effective registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder (or the Company permits holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement). The Company agreed that as soon as practicable, but in no event later than 20 business days after the closing of the Initial Business Combination, the Company will use its commercially reasonable efforts to file with the SEC a registration statement covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants, and the Company will use its commercially reasonable efforts to cause the same to become effective within 60 business days after the closing of the Initial Business Combination and to maintain the effectiveness of such registration statement and a current prospectus relating to those Class A ordinary shares until the warrants expire or are redeemed; provided that if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, requires holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, it will not be required to file or maintain in effect a registration statement. The warrants have an exercise price of $11.50 per share, subject to adjustments, and will expire five years after the completion of an Initial Business Combination or earlier upon redemption or liquidation. In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the Initial Business Combination at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the Initial Shareholders or their affiliates, without taking into account any Founder Shares held by the Initial Shareholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Initial Business Combination on the date of the consummation of the Initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its Initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described under the section below entitled “Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described under the section below entitled “Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the Class A ordinary shares issuable upon exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of an Initial Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be non-redeemable Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00: Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described herein with respect to the Private Placement Warrants): • in whole and not in part; • at a price of $0.01 per warrant; • upon a minimum of 30 days’ prior written notice of redemption (the “30-day • if, and only if, the last reported sale price (the “closing price”) of Class A ordinary shares equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading The Company will not redeem the warrants as described above unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary shares is available throughout the 30-day Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00: Once the warrants become exercisable, the Company may redeem the outstanding warrants: • in whole and not in part; • at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided • if, and only if, the closing price of Class A ordinary shares equals or exceeds $10.00 per share (as adjusted) for any 20 trading days within the 30-trading • if the closing price of the Class A ordinary shares for any 20 trading days within a 30-trading The “fair market value” of Class A ordinary shares shall mean the volume weighted average price of Class A ordinary shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of warrants. In no event will the warrants be exercisable in connection with this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment). In no event will the Company be required to net cash settle any warrant. If the Company is unable to complete an Initial Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.

Shareholders' Equity

Shareholders' Equity3 Months Ended
Mar. 31, 2021
Equity [Abstract]
Shareholders' EquityNOTE 8. SHAREHOLDERS’ EQUITY Preference Shares— Class A Ordinary Shares— Class B Ordinary Shares— Holders of the Class A ordinary shares and holders of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the shareholders, except as required by law. Each ordinary share will have one vote on all such matters. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Initial Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted one-to-one.

Fair Value Measurements

Fair Value Measurements3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value MeasurementsNOTE 9. FAIR VALUE MEASUREMENTS The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 by level within the fair value hierarchy: Description Quoted Prices Significant Significant Assets: Investments held in Trust Account $ 495,914,245 $ — $ — Liabilities: Derivative warrant liabilities $ — $ — $ 18,047,120 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 three months ended March 31, 2021. Level 1 instruments include investments in mutual funds invested in government securities. The Company uses inputs such as actual trade data, benchmark yields, quoted market prices from dealers or brokers, and other similar sources to determine the fair value of its investments. The fair value of the Public Warrants issued in connection with the Public Offering has been measured at fair value using a Modified Monte Carlo simulation. The fair value of the Private Warrants has been measured at fair value using a Modified Black Scholes method. For the three months ended March 31, 2021, the Company recognized a gain to the unaudited condensed statement of operations resulting from a decrease in the fair value of liabilities of approximately $3.0 million presented as change in fair value of derivative warrant liabilities on the accompanying unaudited condensed statement of operations. The estimated fair value of the Private Placement Warrants, and the Public Warrants prior to being separately listed and traded, is determined using Level 3 inputs. Inherent in a Monte Carlo simulation and Modified Black Scholes method are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its ordinary shares warrants based on implied volatility from the Company’s traded warrants and from historical volatility of select peer company’s ordinary shares that matches the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates remaining at zero. The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates: As of As of Volatility 17.0 % 15.0 % Stock price $ 10.00 $ 10.00 Expected life of the options to convert 5 5 Risk-free rate 0.83 % 0.92 % Dividend yield 0.0 % 0.0 % The change in the fair value of the derivative warrant liabilities for the period for the three months ended March 31, 2021 is summarized as follows: Level 3- Derivative warrant liabilities at December 31, 2020 $ — Issuance of derivative warrant liabilities 21,086,630 Change in fair value of derivative warrant liabilities (3,039,510 ) Level 3 -Derivative warrant liabilities at March 31, 2021 $ 18,047,120

Subsequent Events

Subsequent Events3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent EventsNOTE 10. SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the unaudited condensed balance sheet date up to the date the unaudited condensed financial statements were available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements which have not previously been disclosed within the unaudited condensed financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies And Basis of Presentation (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Basis of presentationBasis of presentation The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected through December 31, 2021 or any future period. The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Current Report on Form 8-K and the final prospectus filed by the Company with the SEC on March 17, 2021 and March 11, 2021, respectively. In April 2021, the Company identified an error in its accounting treatment for both its public and private warrants (Warrants) as presented in its audited balance sheet as of March 11, 2021 included in its Current Report on Form 8-K. The Warrants were reflected as a component of equity as opposed to liabilities on the balance sheet. Pursuant to Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections issued by the Financial Accounting Standards Board (“FASB”) and Staff Accounting Bulletin 99, “Materiality”) (“SAB 99”) issued by the SEC, the Company determined the impact of the error was immaterial. The impact of the error correction is reflected in the unaudited condensed financial statements contained herein which resulted in a $21.1 million increase to the derivative warrant liabilities line item and offsetting decrease to the Class A ordinary shares subject to possible redemption mezzanine equity line item recorded as part of the activity in the three months ended March 31, 2021 as reported herein. There would have been no change to total stockholders’ equity as reported.
Emerging growth companyEmerging growth company As an emerging growth company, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging
Use of estimatesUse of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.
Concentration of credit riskConcentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000, and investments held in Trust Account. At March 31, 2021, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.
Cash and Cash EquivalentsCash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents held outside the Trust Account as of March 31, 2021.
Investments Held in Trust AccountInvestments Held in Trust Account The Company’s portfolio of investments held in the Trust Account can be comprised of U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or investments in money market funds that invest in U.S. government securities, or a combination thereof. The Company’s investments held in the Trust Account are classified as trading securities. The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in interest income from investments held in Trust Account in the accompanying statement of operations. The estimated fair values of investments held in the Trust Account are determined using available market information.
Fair Value of Financial InstrumentsFair Value of Financial Instruments Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: • Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; • Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and • Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. As of March 31, 2021, the carrying values of cash, prepaid expenses, accounts payable, and accrued expenses approximate their fair values due to the short-term nature of the instruments. As of March 31, 2021, the carrying values of cash, prepaid expenses, accounts payable, accrued expenses, and note payable – related party approximate their fair values due to the short-term nature of the instruments. The Company’s investments held in Trust Account is comprised of investments in U.S. Treasury securities with an original maturity of 185 days or less and are recognized at fair value. The fair value of investments in Trust Account is determined using quoted prices in active markets.
Derivative Warrant LiabilitiesDerivative Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and ASC 815-15. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. The 9,918,182 issued in connection with the Initial Public Offering (the “Public Warrants”) and the 9,078,788 Private Placement Warrants are recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s statement of operations. The fair value of the Public Warrants issued in connection with the Public Offering and Private Placement Warrants have been measured at fair value using a Monte Carlo simulation model.
Offering Costs Associated with the Initial Public OfferingOffering Costs Associated with the Initial Public Offering Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs are allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities are expensed as incurred, presented as non-operating expenses in the statement of operations. Offering costs associated with the Class A ordinary shares were charged to stockholders’ equity upon the completion of the Initial Public Offering.
Class A Ordinary Shares Subject to Possible RedemptionClass A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) are classified as liability instruments and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, as of March 31, 2021 and December 31, 2020, 45,841,193 and -0- Class A ordinary shares subject to possible redemption are presented as temporary equity, respectively, outside of the shareholders’ equity section of the Company’s balance sheet.
Net Income per Ordinary ShareNet Income per Ordinary Share Net income per ordinary share is computed by dividing net income by the weighted-average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the warrants sold in the Initial Public Offering and Private Placement to purchase an aggregate of 18,996,969 shares in the calculation of diluted loss per share, since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The Company’s unaudited condensed statement of operations includes a presentation of income per ordinary share for ordinary shares subject to possible redemption in a manner similar to the two-class Net income per share, basic and diluted, for non-redeemable non-redeemable Non-redeemable non-redeemable Non-redeemable non-redeemable The following table reflects the calculation of basic and diluted net income per ordinary share: For The three Class A Ordinary shares subject to possible redemption Numerator: Earnings allocable to Ordinary shares subject to possible redemption Income from investments held in Trust Account $ 4,775 Less: Company’s portion available to be withdrawn to pay taxes - Net income attributable $ 4,775 Denominator: Weighted average Class A ordinary shares subject to possible redemption Basic and diluted weighted average shares outstanding 45,559,508 Basic and diluted net income per share $ 0.00 Non-Redeemable Ordinary shares Numerator: Net Income minus Net Earnings Net income $ 2,302,546 Net income allocable to Class A ordinary shares subject to possible redemption (4,775 ) Non-redeemable net income $ 2,297,771 Denominator: weighted average Non-redeemable ordinary shares Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares 12,154,044 Basic and diluted net income per share, Non-redeemable ordinary shares $ 0.19
Income taxesIncome taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statement. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
Recent accounting pronouncementsRecent accounting pronouncements The Company’s management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

Revision of Previously Issued_2

Revision of Previously Issued Financial Statements (Tables)3 Months Ended
Mar. 31, 2021
Restatement Of Previously Issued Financial Statements [Abstract]
Summary of Restatement of Financial StatementsThe following tables summarize the effect of the revision on each financial statement line item as of the dates, and for the period, indicated: As of March 11, 2021 As Previously Adjustment As Corrected Derivative warrant liabilities $ — $ 21,086,630 $ 21,086,630 Total liabilities 17,918,408 21,086,630 39,005,038 Class A common stock, $0.0001 par value; shares subject to possible redemption 476,540,870 (21,086,630 ) 455,454,240 Class A common stock, $0.0001 par value 194 211 405 Additional paid-in-capital 5,042,876 634,269 5,677,145 Accumulated deficit (44,314 ) (634,480 ) (678,794 )

Summary of Significant Accoun_3

Summary of Significant Accounting Policies And Basis of Presentation (Tables)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Earnings Per Share, Basic and DilutedThe following table reflects the calculation of basic and diluted net income per ordinary share: For The three Class A Ordinary shares subject to possible redemption Numerator: Earnings allocable to Ordinary shares subject to possible redemption Income from investments held in Trust Account $ 4,775 Less: Company’s portion available to be withdrawn to pay taxes - Net income attributable $ 4,775 Denominator: Weighted average Class A ordinary shares subject to possible redemption Basic and diluted weighted average shares outstanding 45,559,508 Basic and diluted net income per share $ 0.00 Non-Redeemable Ordinary shares Numerator: Net Income minus Net Earnings Net income $ 2,302,546 Net income allocable to Class A ordinary shares subject to possible redemption (4,775 ) Non-redeemable net income $ 2,297,771 Denominator: weighted average Non-redeemable ordinary shares Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares 12,154,044 Basic and diluted net income per share, Non-redeemable ordinary shares $ 0.19

Fair Value Measurements (Tables

Fair Value Measurements (Tables)3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Fair Value, Assets Measured on Recurring BasisThe following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 by level within the fair value hierarchy: Description Quoted Prices Significant Significant Assets: Investments held in Trust Account $ 495,914,245 $ — $ — Liabilities: Derivative warrant liabilities $ — $ — $ 18,047,120
Summary Of Quantitative Information Regarding Fair Value MeasurementsThe following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates: As of As of Volatility 17.0 % 15.0 % Stock price $ 10.00 $ 10.00 Expected life of the options to convert 5 5 Risk-free rate 0.83 % 0.92 % Dividend yield 0.0 % 0.0 %
Summary Of Change in Fair Value of Derivative Warrant LiabilitiesThe change in the fair value of the derivative warrant liabilities for the period for the three months ended March 31, 2021 is summarized as follows: Level 3- Derivative warrant liabilities at December 31, 2020 $ — Issuance of derivative warrant liabilities 21,086,630 Change in fair value of derivative warrant liabilities (3,039,510 ) Level 3 -Derivative warrant liabilities at March 31, 2021 $ 18,047,120

Description of Organization A_2

Description of Organization And Going Concern - Additional Information (Detail) - USD ($)Mar. 11, 2021Mar. 31, 2021Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporationDec. 7,
2020
Sale of stock issue price per share $ 10
Adjustment to additional paid in capital stock issuance costs $ 28,000,000 $ 27,340,317
Deferred underwriting commissions $ 17,356,818 17,356,818
Proceeds from initial public offering495,900,000 495,909,080
Proceeds from Issuance of Warrants13,600,000 13,618,182
Payments to Acquire Restricted Investments $ 495,900,000 495,909,080
Restricted Investment Value Per Share $ 10
Term Of Restricted Investments185 days
Minimum Net Worth Required for Compliance $ 5,000,001 $ 5,000,001
Per Share Amount To Be Maintained In The Trust Account10.00%10.00%
Percentage Of Public Shares To Be Redeemed In Case Business Consummation Does Not Occur100.00%100.00%
Period Within Which Business Combination Must Be Completed From The Date Of Closure Of Initial Public Offering24 months
Period Within Which The Public Shares Shall Be Redeemed10 days
Expenses payable on liquidation $ 100,000 $ 100,000
Cash1,700,000 1,700,000
Working capital2,900,000 2,900,000
Sponsor [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Proceeds from related party to meet expense25,000
Proceeds from related party debt300,000
Sponsor [Member] | Working Capital Loan [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Working capital loans convertible into equity warrants value $ 1,500,000 $ 1,500,000
Debt instrument conversion price per share $ 1.50 $ 1.50
Common Class A [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sale of stock issue price per share $ 9.20 $ 9.20
Percentage Of Public Shares Eligible To Be Transferred Or Redeemed Without Any Restriction15.00%15.00%
Stock shares issued during the period new issues49,590,908
Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Per Share Amount To Be Maintained In The Trust Account10.00%10.00%
Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Acquires Assets As A Percentage Of Net Market Value Of Assets Held In Trust Account80.00%
Equity Method Investment, Ownership Percentage50.00%
Per Share Amount To Be Maintained In The Trust Account10.00%10.00%
Private Placement Warrants [member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Class Of Warrants Or Rights Warrants Issued During The Period9,078,788
Class Of Warrants Or Rights Warrants Issue Price Per Unit $ 1.50 $ 1.50 $ 1.50
Proceeds from Issuance of Warrants $ 13,600,000
IPO [member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Adjustment to additional paid in capital stock issuance costs $ 28,000,000
Deferred underwriting commissions $ 17,400,000
Stock shares issued during the period new issues49,590,908
Over-Allotment Option [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Stock shares issued during the period new issues6,090,908

Revision of Previously Issued_3

Revision of Previously Issued Financial Statements - Summary of Restatement of Financial Statements (Detail) - USD ($)Mar. 31, 2021Mar. 11, 2021Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Derivative warrant liabilities $ 18,047,120 $ 21,086,630
Total liabilities35,595,621 39,005,038 $ 115,427
Class A common stock, $0.0001 par value; shares subject to possible redemption458,411,930
Additional paid-in-capital2,711,759 5,677,145 23,749
Accumulated deficit2,286,616 (678,794) $ (15,930)
Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A common stock, $0.0001 par value; shares subject to possible redemption455,454,240
Common stock $ 375 405
As Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Derivative warrant liabilities0
Total liabilities17,918,408
Additional paid-in-capital5,042,876
Accumulated deficit(44,314)
As Previously Reported [Member] | Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A common stock, $0.0001 par value; shares subject to possible redemption476,540,870
Common stock194
Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Derivative warrant liabilities21,086,630
Total liabilities21,086,630
Additional paid-in-capital634,269
Accumulated deficit(634,480)
Adjustment [Member] | Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A common stock, $0.0001 par value; shares subject to possible redemption(21,086,630)
Common stock $ 211

Revision of Previously Issued_4

Revision of Previously Issued Financial Statements - Summary of Restatement of Financial Statements (Parenthetical) (Detail) - Common Class A [Member] - $ / sharesMar. 31, 2021Mar. 11, 2021Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Temporary equity par or stated value per share $ 0.0001
Common stock par or stated value per share $ 0.0001 $ 0.0001 $ 0.0001

Summary of Significant Accoun_4

Summary of Significant Accounting Policies And Basis of Presentation - Additional Information (Detail) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 25, 2021Dec. 31, 2020
Accounting Policies [Line Items]
Unrecognized tax benefits $ 0
Accrued interest and penalties on unrecognized tax benefits $ 0
Increase in warrant liability $ 21,100,000
Cash and cash equivalents $ 1,676,347 $ 0
Public Warrants [Member]
Accounting Policies [Line Items]
Warrants outstanding9,918,182
Private Warrants [Member]
Accounting Policies [Line Items]
Warrants outstanding9,078,788
Cash [Member]
Accounting Policies [Line Items]
Cash and cash equivalents $ 0
Common Stock Subject to Mandatory Redemption [Member]
Accounting Policies [Line Items]
Temporary equity shares outstanding45,841,193
Warrant [Member]
Accounting Policies [Line Items]
Antidilutive securities excluded from the computation of earnings per share18,996,969
Minimum [Member]
Accounting Policies [Line Items]
Cash insured with federal deposit insurance corporation $ 250,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies And Basis of Presentation - Summary of Earnings Per Share, Basic and Diluted (Detail)3 Months Ended
Mar. 31, 2021USD ($)$ / sharesshares
Numerator: Earnings allocable to Ordinary shares subject to possible redemption
Income from investments held in Trust Account $ 4,775
Less: Company's portion available to be withdrawn to pay taxes0
Net income attributable4,775
Numerator: Net Income minus Net Earnings
Net Income2,302,546
Net income allocable to Class A ordinary shares subject to possible redemption(4,775)
Non-redeemable net income $ 2,297,771
Class A Common Stock Subject To Possible Redemption [Member]
Denominator: Weighted average Class A ordinary shares subject to possible redemption
Basic and diluted weighted average shares outstanding | shares45,559,508
Basic and diluted net income per share | $ / shares $ 0
Denominator: weighted average Non-redeemable ordinary shares
Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares | shares45,559,508
Basic and diluted net income per share, Non-redeemable ordinary shares | $ / shares $ 0
Class A and Class B Common Stock [Member]
Denominator: Weighted average Class A ordinary shares subject to possible redemption
Basic and diluted weighted average shares outstanding | shares12,154,044
Basic and diluted net income per share | $ / shares $ 0.19
Denominator: weighted average Non-redeemable ordinary shares
Basic and diluted weighted average shares outstanding, Non-redeemable ordinary shares | shares12,154,044
Basic and diluted net income per share, Non-redeemable ordinary shares | $ / shares $ 0.19

Initial Public Offering - Addit

Initial Public Offering - Additional Information (Detail) - USD ($)Mar. 11, 2021Mar. 31, 2021
Initial Public Offering [Line Items]
Sale of stock issue price per share $ 10
Proceeds from initial public offering $ 495,900,000 $ 495,909,080
Adjustment to additional paid in capital stock issuance costs $ 28,000,000 27,340,317
Deferred underwriting commissions $ 17,356,818
Class of warrant or rights number of shares covered by each warrant or right1
Class of warrants or rights exercise price $ 11.50
IPO [member]
Initial Public Offering [Line Items]
Stock shares issued during the period shares49,590,908
Adjustment to additional paid in capital stock issuance costs $ 28,000,000
Deferred underwriting commissions $ 17,400,000
Over-Allotment Option [Member]
Initial Public Offering [Line Items]
Stock shares issued during the period shares6,090,908

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)Apr. 22, 2021Mar. 11, 2021Mar. 09, 2021Dec. 11, 2020Dec. 07, 2020Mar. 31, 2021Mar. 31, 2021Dec. 31, 2020
Related Party Transaction [Line Items]
Proceeds from warrant issue $ 13,600,000 $ 13,618,182
Class of warrants or rights exercise price $ 11.50 $ 11.50
Over-Allotment Option [Member]
Related Party Transaction [Line Items]
Stock shares issued during the period new issues shares6,090,908
Private Placement Warrants [member]
Related Party Transaction [Line Items]
Class of warrants or rights warrants issued during the period units9,078,788
Class of warrants or rights warrants issue price per unit $ 1.50 1.50 $ 1.50
Proceeds from warrant issue $ 13,600,000
Class of warrants or rights exercise price $ 11.50 $ 11.50
Class of warrants or right lock in period30 days
Common Class B [Member]
Related Party Transaction [Line Items]
Stock shares issued during the period for services value $ 25,000
Stock shares issued during the period for services shares11,500,000 1,006,250
Common stock shares outstanding12,506,250 12,506,250 12,506,250
Stock issued during the period shares share based compensation forfeited108,523
Issued and outstanding shares, percentage20.00%
Common Class B [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Stock issued during the period shares share based compensation forfeited108,523
Common Class B [Member] | Over-Allotment Option [Member]
Related Party Transaction [Line Items]
Stock shares issued during the period new issues shares6,090,908 6,090,908
Founder [Member]
Related Party Transaction [Line Items]
Share price $ 12 $ 12
Lock in period of shares1 year
Number of specific trading days for determining the share price20 days
Total number of trading days for determining the share price30 days
Waiting time after which the share price is considered150 days
Sponsor [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt $ 300,000
Related party transaction administrative fees payable per month $ 10,000 10,000
Sponsor [Member] | Working Capital Loan [Member]
Related Party Transaction [Line Items]
Working capital loans convertible into equity warrants value $ 1,500,000 $ 1,500,000
Debt instrument conversion price per share $ 1.50 $ 1.50
Working capital loans outstanding $ 0 $ 0
Sponsor [Member] | Related Party Loan [Member]
Related Party Transaction [Line Items]
Debt instrument face value $ 300,000
Proceeds from related party debt $ 171,000
Sponsor [Member] | Common Class B [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Issued and outstanding shares, percentage20.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions3 Months Ended
Mar. 31, 2021Mar. 09, 2021
Underwriting discount per share $ 0.20
Underwriting discount value $ 9.9
Deferred underwriting commission per share $ 0.35
Deferred underwriting commission value $ 17.4
IPO [member]
Additional number of shares purchased6,525,000
Over-Allotment Option [Member]
Additional number of shares purchased6,090,908

Derivative Warrant Liabilities

Derivative Warrant Liabilities - Additional Information (Detail) - $ / shares3 Months Ended
Mar. 31, 2021Mar. 11, 2021Dec. 31, 2020
Class of Warrant or Right [Line Items]
Preferred stock shares issued0 0
Preferred stock shares outstanding0 0
Class of warrants or rights exercise price $ 11.50
Sale of stock issue price per share $ 10
Percent of gross proceeds to total equity proceeds60.00%
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding9,918,182
Private Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding9,078,788
Redemption trigger price one [Member]
Class of Warrant or Right [Line Items]
Exercise price of the warrants adjusted to market value one115.00%
Redemption trigger price $ 18
Redemption of warrants threshold price18
Class of warrants redemption price per unit $ 0.01
Class of warrants redemption notice period20 days
Number of trading days for determining volume weighted average share price30 days
Redemption trigger price two [Member]
Class of Warrant or Right [Line Items]
Exercise price of the warrants adjusted to market value one180.00%
Redemption trigger price $ 10
Redemption of warrants threshold price10
Class of warrants redemption price per unit $ 0.10
Class of warrants redemption notice period20 days
Number of trading days for determining volume weighted average share price30 days
Common Class A [Member]
Class of Warrant or Right [Line Items]
Sale of stock issue price per share $ 9.20
Weighted average price notice of redemption warrants10 days
Redemption feature of ordinary shares per warrant0.361

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - $ / sharesApr. 22, 2021Mar. 11, 2021Mar. 09, 2021Mar. 31, 2021Dec. 31, 2020Dec. 11, 2020
Class of Stock [Line Items]
Preferred stock par or stated value per share $ 0.0001 $ 0.0001
Preferred stock shares authorized5,000,000 5,000,000
Preferred stock shares issued0 0
Preferred stock shares outstanding0 0
Over-Allotment Option [Member]
Class of Stock [Line Items]
Stock shares issued during the period shares6,090,908
Common Class A [Member]
Class of Stock [Line Items]
Common stock par or stated value per share $ 0.0001 $ 0.0001 $ 0.0001
Common stock shares authorized500,000,000 500,000,000
Common stock shares issued3,749,715 0
Common stock shares outstanding3,749,715 0
Temporary equity shares outstanding45,841,193 0
Stock shares issued during the period shares49,590,908
Common Class B [Member]
Class of Stock [Line Items]
Common stock par or stated value per share $ 0.0001 $ 0.0001
Common stock shares authorized50,000,000 50,000,000
Common stock shares issued12,506,250 12,506,250 12,506,250
Common stock shares outstanding12,506,250 12,506,250
Issued and outstanding shares, percentage20.00%
Stock issued during the period shares share based compensation forfeited108,523
Founder shares will converted basis20.00%
Common Class B [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Stock issued during the period shares share based compensation forfeited108,523
Common Class B [Member] | Over-Allotment Option [Member]
Class of Stock [Line Items]
Stock shares issued during the period shares6,090,908 6,090,908

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value, Assets Measured on Recurring Basis (Detail)Mar. 31, 2021USD ($)
Assets:
Investments held in Trust Account $ 495,914,245
Level 1 [Member] | Fair Value, Recurring [Member]
Assets:
Investments held in Trust Account495,914,245
Liabilities:
Derivative warrant liabilities0
Level 2 [Member] | Fair Value, Recurring [Member]
Assets:
Investments held in Trust Account0
Liabilities:
Derivative warrant liabilities0
Level 3 [Member] | Fair Value, Recurring [Member]
Assets:
Investments held in Trust Account0
Liabilities:
Derivative warrant liabilities $ 18,047,120

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary Of Quantitative Information Regarding Fair Value Measurements (Detail) - Level 3 [Member] - $ / sharesMar. 09, 2021Mar. 31, 2021
Volatility
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate17.00%15.00%
Stock price
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share Based Payment Arrangements Stock Price Per Share $ 10 $ 10
Expected life of the options to convert
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term5 years5 years
Risk-free rate
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate0.83%0.92%
Dividend yield
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate0.00%0.00%

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary Of Change In Fair Value Of Derivative Warrant Liabilities (Detail) - Level 3 [Member]3 Months Ended
Mar. 31, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative warrant liabilities at December 31, 2020 $ 0
Issuance of derivative warrant liabilities21,086,630
Change in fair value of derivative warrant liabilities(3,039,510)
Derivative warrant liabilities at March 31, 2021 $ 18,047,120

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)
Fair Value Disclosures [Abstract]
Decrease in derivative warrant liabilities $ 3