Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Summary of fair value hierarchy

March 31

December 31

Description

    

Level

    

2022

2021

(Unaudited)

Liabilities:

Warrant liabilities (Note 10)

3

$

135

$

292

Earnout Cash liability (Note 4)

 

3

$

2,479

$

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:

    

March 31, 2022

    

Stock price on valuation date

$

2.45

Exercise price per share

$

11.50

Expected life

 

4.15

Volatility

 

94.9%

Risk-free rate

 

2.43%

Dividend yield

 

0.00%

Fair value of warrants

$

0.99

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):

    

March 31, 2022

Balance as of December 31, 2021

$

292

Gain upon re-measurement

 

(157)

Balance as of March 31, 2022

$

135

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):

    

March 31, 2022

Balance as of December 31, 2021

$

4,582

Gain upon re-measurement

 

(2,103)

Balance as of March 31, 2022

$

2,479