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]  
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):

Fair Value Measurements at December 31, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets:

Money market funds

$

297,536

$

$

$

297,536

$

297,536

$

$

$

297,536

Liabilities:

  

 

  

 

  

 

  

Contingent earn-out liability

$

$

$

20,809

$

20,809

Contingently issuable common stock liability

5,264

5,264

Public Warrant liability

11,030

11,030

$

$

$

37,103

$

37,103

Fair Value Measurements as of December 31, 2020

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

 

  

 

  

 

  

 

  

Common stock warrant liability

$

$

$

1

$

1

Derivative liability

 

 

 

1,000

 

1,000

$

$

$

1,001

$

1,001

Warrants to purchase common stock  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of common stock warrant liability

The following table provides a rollforward of the common stock warrant liability (in thousands):

Balance at December 31, 2020

    

$

1

Change in fair value

 

879

Conversion of common stock warrant to common stock upon the closing of the Merger

(880)

Balance at December 31, 2021

$

Derivative Liability.  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of derivative liability

The following table provides a rollforward of the derivative liability (in thousands):

Balance at December 31, 2020

    

$

1,000

Initial fair value of the embedded derivative

16,986

Change in fair value

 

1,745

Settlement of derivative liability upon the closing of the Merger

(19,731)

Balance at December 31, 2021

$

Contingent Earn-Out Liability  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of contingent earn-out liability

The following table provides a rollforward of the contingent earn-out liability (in thousands):

Balance at December 31, 2020

    

$

Initial fair value of the instrument

67,021

Change in fair value

 

(46,212)

Balance at December 31, 2021

$

20,809

Contingently Issuable Common Stock Liability  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of common stock warrant liability

The following table provides a rollforward of the contingently issuable common shares (in thousands):

Balance at December 31, 2020

    

$

Initial fair value of the instrument

11,670

Change in fair value

 

(6,406)

Balance at December 31, 2021

$

5,264

Public Warrant Liability.  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of common stock warrant liability

The following table provides a rollforward of the public warrant liability (in thousands):

Balance at December 31, 2020

    

$

Initial fair value of the instrument

23,636

Change in fair value

 

(12,606)

Balance at December 31, 2021

$

11,030