Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities 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):
March 31, 2022
Level 1 Level 2 Level 3 Fair Value
Assets:
Cash equivalents $ 408,139  $ —  $ —  $ 408,139 
Liabilities:
Warrant liability - Public Warrants 4,236  —  —  4,236 
Warrant liability - Private Warrants —  2,401  —  2,401 
Total liabilities $ 4,236  $ 2,401  $ —  $ 6,637 
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 (2,317) (1,314) (3,631)
Fair value as of March 31, 2022 $ 4,236  $ 2,401  $ 6,637