Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Key Inputs into Option Model for Private Placement Warrants and Public Warrants

The key inputs into the option model for the Private Placement Warrants and Public Warrants were as follows for the relevant periods:

	As of
	December 31, 2020			March 31, 2021
Volatility		24.8	%		21.1	%
Risk-free interest rate		0.43	%		1.01	%
Warrant exercise price	$	11.50		$	11.50
Expected term	5.5			5.4

Schedule of Changes in Fair Value of Warrant Liabilities

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

	Private placement warrants			Public warrants			Total warrant liabilities
Fair value at December 31, 2020	$	12,562,500		$	21,105,000		$	33,667,500
Change in fair value		(2,875,000	)		(4,830,000	)		(7,705,000	)
Fair value at March 31, 2021	$	9,687,500		$	16,275,000		$	25,962,500

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and includes situations where there is little, if any, market activity for the asset or liability:

					Significant		Significant
					Other		Other
			Quoted Prices in		Observable		Unobservable
	March 31,		Active Markets		Inputs		Inputs
Description	2021		(Level 1)		(Level 2)		(Level 3)
Investments and cash held in Trust Account		525,033,518		525,033,518		—		—
Public warrants		16,275,000		—		16,275,000		—
Private placement warrants		9,687,500		—		9,687,500		—
Total	$	550,996,018	$	525,033,518	$	25,962,500	$	—

Gores Holdings V Inc. 10-Q