Registration of securities issued in business combination transactions

Fair Value Measurements

v3.21.1
Fair Value Measurements
6 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Note 7—Fair Value Measurements
The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2020 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.
 
    
Quoted Prices in
Active Markets
    
Significant Other
Observable Inputs
    
Significant Other
Unobservable Inputs
 
Description
  
(Level 1)
    
(Level 2)
    
(Level 3)
 
Assets held in Trust Account:
        
U.S. Treasury Securities
   $ 690,167,879      $ —        $ —    
Cash equivalents - money market funds
     3,487        —          —    
  
 
 
    
 
 
    
 
 
 
  
$
690,171,366
 
  
$
—  
 
  
$
—  
 
  
 
 
    
 
 
    
 
 
 
Transfers to/from Levels 1, 2, and 3 are recognized at the end of the reporting period. There were no transfers between levels for the period from July 3, 2020 (inception) through December 31, 2020.
Level 1 instruments include investments in money market funds and U.S. Treasury securities. The Company uses inputs such as actual trade data, benchmark yields and quoted market prices from dealers or brokers.