Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.21.2
FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
Financial instruments that are measured at fair value on a recurring basis and their corresponding placement in the fair value hierarchy consist of the following (in thousands):
September 30, 2021
Level 1 Level 2 Level 3 Fair Value
Assets:
Money market funds $ 408,056  $ —  $ —  $ 408,056 
Liabilities:
Warrant liability - Public Warrants 10,150  —  —  10,150 
Warrant liability - Private Warrants —  5,798  —  5,798 
Total liabilities $ 10,150  $ 5,798  $ —  $ 15,948 
December 31, 2020
Level 1 Level 2 Level 3 Fair Value
Assets:
Money market funds $ 103,472  $ —  $ —  $ 103,472 
Fair Value, Warrant Liabilities
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, 2020 $ —  $ —  $ — 
Assumption of Warrants in Business Combination 17,981  10,238  28,219 
Change in fair value of warrant liability (7,831) (4,440) (12,271)
Fair value as of September 30, 2021 $ 10,150  $ 5,798  $ 15,948