Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.2.2
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 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):
September 30, 2022
Level 1 Level 2 Level 3 Fair Value
Assets:
Cash equivalents $ 162,392  $ —  $ —  $ 162,392 
Liabilities:
Warrant liability - Public Warrants 1,278  —  —  1,278 
Warrant liability - Private Warrants —  725  —  725 
Total liabilities $ 1,278  $ 725  $ —  $ 2,003 
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 (5,275) (2,990) (8,265)
Fair value as of September 30, 2022 $ 1,278  $ 725  $ 2,003