Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Liabilities Measured on 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 (in thousands):

	Level	June 30, 2022		December 31, 2021
Liabilities:
Warrant liability – Public Warrants	1	$	8,125	$	16,750
Warrant liability – Private Placement Warrants	3	5,320		10,710
Total warrant liability		$	13,445	$	27,460

Schedule of Derivative Liabilities at Fair Value

The following tables summarize the changes in the fair value of the warrant liabilities (in thousands):

	Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
	Public Warrants		Private Placement Warrants		Warrant Liabilities		Public Warrants		Private Placement Warrants		Warrant Liabilities
Fair value, beginning of period	$	27,500	$	18,179	$	45,679	$	16,750	$	10,710	$	27,460
Change in valuation inputs or other assumptions	(19,375)		(12,859)		(32,234)		(8,625)		(5,390)		(14,015)
Fair value, end of period	$	8,125	$	5,320	$	13,445	$	8,125	$	5,320	$	13,445

	Three and Six Months Ended June 30, 2021
	Public Warrants		Private Warrants		Warrant Liabilities
Fair value, beginning of period	$	—	$	—	$	—
Warrant liability acquired	100,750		93,228		193,978
Change in valuation inputs or other assumptions	(21,375)		(16,416)		(37,791)
Fair value, end of period	$	79,375	$	76,812	$	156,187

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

	June 30, 2022			December 31, 2021
Exercise price	$	11.50		$	11.50
Stock price	$	3.29		$	5.98
Volatility	67.5		%	52.4		%
Term (years)	3.96			4.46
Risk-free interest rate	3.00		%	1.18		%