Post-effective amendment to a registration statement that is not immediately effective upon filing

Fair Value Measurements (Tables)

v3.22.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Summary of fair value hierarchy

December 31,

Description

    

Level

    

2021

    

2020

Liabilities:

Warrant liabilities (Note 10)

3

$

292

$

Earnout Cash liability (Note 4)

 

3

$

4,582

$

Schedule of significant unobservable inputs

The significant unobservable inputs used in the Black-Scholes model to measure the warrant liability that are categorized within Level 3 of the fair value hierarchy are as follows:

    

December 31, 2021

    

At Effective Time

 

Stock price on valuation date

$

4.78

$

11.62

Exercise price per share

$

11.50

$

11.50

Expected life

 

4.40

 

4.9

Volatility

 

82.8

%

 

35.7

%

Risk-free rate

 

1.17

%

 

0.85

%

Dividend yield

 

%

 

%

Fair value of warrants

$

2.14

$

3.78

Common stock warrant [Member]  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of reconciliation of liabilities

A reconciliation of warrant liabilities is included below (in thousands):

    

December 31, 2021

Balance as of December 31, 2020

$

Additions pursuant to Merger

 

1,984

Gain upon re-measurement

 

(1,692)

Balance as of December 31, 2021

$

292

Earnout Cash liability  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of reconciliation of liabilities

A reconciliation of the Earnout Cash liability is included below (in thousands):

    

December 31, 2021

Balance as of December 31, 2020

$

Additions pursuant to Merger

 

25,520

Gain upon re-measurement

 

(20,938)

Balance as of December 31, 2021

$

4,582