| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):
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Fair Value Measurements at June 30, 2024 |
|
Level 1 |
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Level 2 |
|
Level 3 |
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Total |
| Assets: |
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|
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| Money market funds |
$ |
28,025 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
28,025 |
|
| Treasury bills |
— |
|
|
20,757 |
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|
— |
|
|
20,757 |
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|
$ |
28,025 |
|
|
$ |
20,757 |
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|
$ |
— |
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|
$ |
48,782 |
|
| Liabilities: |
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|
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| Contingent earn-out liability |
$ |
— |
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|
$ |
— |
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|
$ |
5,706 |
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|
$ |
5,706 |
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| Contingently issuable common stock liability |
— |
|
|
— |
|
|
2,256 |
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|
2,256 |
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| Public Warrant liability |
3,852 |
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|
— |
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|
— |
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|
3,852 |
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|
$ |
3,852 |
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|
$ |
— |
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|
$ |
7,962 |
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$ |
11,814 |
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Fair Value Measurements at December 31, 2023 |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
| Assets: |
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|
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|
|
|
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| Money market funds |
$ |
57,829 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
57,829 |
|
| Treasury bills |
— |
|
|
51,289 |
|
|
— |
|
|
51,289 |
|
|
$ |
57,829 |
|
|
$ |
51,289 |
|
|
$ |
— |
|
|
$ |
109,118 |
|
| Liabilities: |
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|
|
|
|
|
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| Contingent earn-out liability |
$ |
— |
|
|
$ |
— |
|
|
$ |
29,119 |
|
|
$ |
29,119 |
|
| Contingently issuable common stock liability |
— |
|
|
— |
|
|
6,530 |
|
|
6,530 |
|
| Public Warrant liability |
10,889 |
|
|
— |
|
|
— |
|
|
10,889 |
|
|
$ |
10,889 |
|
|
$ |
— |
|
|
$ |
35,649 |
|
|
$ |
46,538 |
|
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| Schedule of Common Stock Warrant Liability |
The following table provides a rollforward of the contingent earn-out liability (in thousands):
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| Balance at December 31, 2023 |
$ |
29,119 |
|
| Change in fair value |
(23,413) |
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| Balance at June 30, 2024 |
$ |
5,706 |
|
The following table provides a rollforward of the contingently issuable common shares (in thousands):
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| Balance at December 31, 2023 |
$ |
6,530 |
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| Change in fair value |
(4,274) |
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| Balance at June 30, 2024 |
$ |
2,256 |
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The following table provides a rollforward of the public warrant liability (in thousands):
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| Balance at December 31, 2023 |
$ |
10,889 |
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| Change in fair value |
(7,037) |
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| Balance at June 30, 2024 |
$ |
3,852 |
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