Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.2
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis
Financial instruments that are measured at fair value on a recurring basis and their corresponding placement in the fair value hierarchy consisted of the following (in thousands):
June 30, 2022
Level 1 Level 2 Level 3 Fair Value
Assets:
Cash equivalents $ 330,782  $ —  $ —  $ 330,782 
Liabilities:
Warrant liability - Public Warrants 2,877  —  —  2,877 
Warrant liability - Private Warrants —  1,631  —  1,631 
Total liabilities $ 2,877  $ 1,631  $ —  $ 4,508 
December 31, 2021
Level 1 Level 2 Level 3 Fair Value
Assets:
Cash equivalents $ 408,082  $ —  $ —  $ 408,082 
Liabilities:
Warrant liability - Public Warrants 6,553  —  —  6,553 
Warrant liability - Private Warrants —  3,715  —  3,715 
Total liabilities $ 6,553  $ 3,715  $ —  $ 10,268 
Schedule of Changes in Fair Value of Warrant Liability
The following table presents the changes in the fair value of the warrant liability (in thousands):
Public Warrants Private Warrants Total
Warrant Liability
Fair value as of December 31, 2021 $ 6,553  $ 3,715  $ 10,268 
Change in fair value of warrant liability (3,676) (2,084) (5,760)
Fair value as of June 30, 2022 $ 2,877  $ 1,631  $ 4,508