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 assets and liabilities that are measured at fair value on a recurring basis The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
Description Level June 30,
2022		 December 31,
2021
Liabilities:  
Warrant liabilities 3  $ 77  $ 2,274 
Earnout consideration
 3  $ 2,900  $ — 
Schedule of key inputs
The significant unobservable inputs used in the Binomial Lattice Model to measure the warrant liabilities that are categorized within Level 3 of the fair value hierarchy are as follows:
June 30,
2022		 December 31,
2021
Stock price on valuation date $ 1.17  $ 3.71 
Exercise price per share $ 11.50  $ 11.50 
Expected life 4.25 years 4.75 years
Volatility
67.0%
56.4%
Risk-free rate
3.0%
1.2%
Dividend yield —  % —  %
Fair value per warrant $ 0.10  $ 0.73 
Schedule of changes in the fair value of warrant liabilities The following table provides a summary of changes in fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis:
Warrant
Liabilities
Balance at December 31, 2021
 $ 2,274 
Transfer of Private Warrants to Public Warrants
 (670)
Change in fair value (1,527)
Balance at June 30, 2022
 $ 77