Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 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			June 30, 2021*
Volatility		24.8	%		—
Risk-free interest rate		0.43	%		—
Warrant exercise price	$	11.50		$	11.50
Expected term	5.5			5.1

*Volatility and risk-free rate were not utilized in computation.

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		187,500		315,000		502,500
Fair value at June 30, 2021	$	12,750,000	$	21,420,000	$	34,170,000

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 June 30, 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
	June 30,		Active Markets		Inputs		Inputs
Description	2021		(Level 1)		(Level 2)		(Level 3)
Investments and cash held in Trust Account		525,046,609		525,046,609		—		—
Public warrants		21,420,000		—		21,420,000		—
Private placement warrants		12,750,000		—		12,750,000		—
Total	$	559,216,609	$	525,046,609	$	34,170,000	$	—

Gores Holdings V Inc. 10-Q