| 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 March 31, 2024 |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
| Assets: |
|
|
|
|
|
|
|
| Money market funds |
$ |
23,771 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
23,771 |
|
| Treasury bills |
— |
|
|
41,378 |
|
|
— |
|
|
41,378 |
|
|
$ |
23,771 |
|
|
$ |
41,378 |
|
|
$ |
— |
|
|
$ |
65,149 |
|
| Liabilities: |
|
|
|
|
|
|
|
| Contingent earn-out liability |
$ |
— |
|
|
$ |
— |
|
|
$ |
22,220 |
|
|
$ |
22,220 |
|
| Contingently issuable common stock liability |
— |
|
|
— |
|
|
6,003 |
|
|
6,003 |
|
| Public Warrant liability |
8,738 |
|
|
— |
|
|
— |
|
|
8,738 |
|
|
$ |
8,738 |
|
|
$ |
— |
|
|
$ |
28,223 |
|
|
$ |
36,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements as of December 31, 2023 |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
| Assets: |
|
|
|
|
|
|
|
| Money market funds |
$ |
57,829 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
57,829 |
|
| Treasury bills |
— |
|
|
51,289 |
|
|
— |
|
|
51,289 |
|
|
$ |
57,829 |
|
|
$ |
51,289 |
|
|
$ |
— |
|
|
$ |
109,118 |
|
| Liabilities: |
|
|
|
|
|
|
|
| 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 |
|
|
| Schedule of Common Stock Warrant Liability |
The following table provides a rollforward of the contingent earn-out liability (in thousands):
|
|
|
|
|
|
| Balance at December 31, 2023 |
$ |
29,119 |
|
| Change in fair value |
(6,899) |
|
| Balance at March 31, 2024 |
$ |
22,220 |
|
The following table provides a rollforward of the contingently issuable common shares (in thousands):
|
|
|
|
|
|
| Balance at December 31, 2023 |
$ |
6,530 |
|
| Change in fair value |
(527) |
|
| Balance at March 31, 2024 |
$ |
6,003 |
|
The following table provides a rollforward of the public warrant liability (in thousands):
|
|
|
|
|
|
| Balance at December 31, 2023 |
$ |
10,889 |
|
| Change in fair value |
(2,151) |
|
| Balance at March 31, 2024 |
$ |
8,738 |
|
|