Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.22.2.2
Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of assets measured at fair value on a recurring basis

The following table summarizes information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy used to determine such fair values:

 

 

 

September 30, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money Market funds in Cash and Cash Equivalents

 

$

63,693

 

 

$

—

 

 

$

—

 

 

$

63,693

 

Total Assets

 

$

63,693

 

 

$

—

 

 

$

—

 

 

$

63,693

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Public Warrants

 

$

1,709

 

 

$

—

 

 

$

—

 

 

$

1,709

 

Private Placement Warrants

 

$

—

 

 

$

922

 

 

$

—

 

 

$

922

 

Total Liabilities

 

$

1,709

 

 

$

922

 

 

$

—

 

 

$

2,631

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money Market funds in Cash and Cash Equivalents

 

$

162,164

 

 

$

—

 

 

$

—

 

 

$

162,164

 

Total Assets

 

$

162,164

 

 

$

—

 

 

$

—

 

 

$

162,164

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Public Warrants

 

$

8,625

 

 

$

—

 

 

$

—

 

 

$

8,625

 

Private Placement Warrants

 

$

—

 

 

$

4,651

 

 

$

—

 

 

$

4,651

 

Total Liabilities

 

$

8,625

 

 

$

4,651

 

 

$

—

 

 

$

13,276

 
Schedule of changes in fair value of warrant liabilities

The change in fair value of warrant liabilities is as follows:

 

 

 

Warrant Liabilities

 

 

 

(in thousands)

 

Balance at December 31, 2021

 

$

13,277

 

Exercised warrants

 

 

—

 

Change in fair value

 

$

(10,646

)

Balance at September 30, 2022

 

 

2,631