Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

Fair Value Measurements
3 Months Ended
Sep. 30, 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 September 30, 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   $ 689,953,908     $ -     $ -  
Cash equivalents - money market funds     3,298       -       -  
    $ 689,957,206     $ -     $ -  

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 September 30, 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.