Landsea Homes Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of fair value assets measured on a recurring basis


		Quoted Prices				Significant				Significant Other
		in Active Markets				Other Observable Inputs				Unobservable Inputs
Description		(Level 1)				(Level 2)				(Level 3)
Assets held in Trust at December 31, 2020:
Money market fund		$	109,742,246			$	—			$	—
		$	109,742,246			$	—			$	—

Liabilities:
Warrant liability (As Restated)		$	30,118,500			$	—			$	15,364,800
Convertible note payable (As Restated)			—				—				1,500,000
		$	30,118,500			$	—			$	16,864,800

		Quoted Prices				Significant				Significant Other
		in Active Markets				Other Observable Inputs				Unobservable Inputs
Description		(Level 1)				(Level 2)				(Level 3)
Assets held in Trust at December 31, 2019:
U.S. Treasury Securities		$	161,991,526			$	—			$	—
Money market funds			28,383				—				—
		$	162,019,909			$	—			$	—

Liabilities:
Warrant liability (As Restated)		$	—			$	—			$	10,943,950
Convertible note payable (As Restated)			—				—				750,000
		$	—			$	—			$	11,693,950

Schedule of fair value, liabilities measured on recurring basis


		For the Years Ended December 31,
		2020				2019
Warrant liability
Beginning balance		$	10,943,950			$	10,012,550
Changes in fair value			18,393,350				931,400
Transfers out of Level 3			(13,972,500	)			—
Ending balance		$	15,364,800			$	10,943,950


		For the Years Ended December 31,
		2020				2019
Convertible note payable
Beginning balance		$	750,000			$	—
Additions			750,000				750,000
Ending balance		$	1,500,000			$	750,000