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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
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 September 30, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands):

LevelSeptember 30, 2023December 31, 2022
Liabilities:
Warrant liability – Public Warrants1$1,750 $1,250 
Warrant liability – Private Placement Warrants31,120 840 
Total warrant liability$2,870 $2,090 
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
September 30, 2023
Nine Months Ended
September 30, 2023
Public WarrantsPrivate Placement WarrantsWarrant LiabilitiesPublic WarrantsPrivate WarrantsWarrant Liabilities
Fair value, beginning of period$1,500 $910 $2,410 $1,250 $840 $2,090 
Change in fair value250 210 460 500 280 780 
Fair value, end of period$1,750 $1,120 $2,870 $1,750 $1,120 $2,870 
Three Months Ended
September 30, 2022
Nine Months Ended
September 30, 2022
Public WarrantsPrivate Placement WarrantsWarrant LiabilitiesPublic WarrantsPrivate WarrantsWarrant Liabilities
Fair value, beginning of period$8,125 $5,320 $13,445 $16,750 $10,710 $27,460 
Change in fair value(4,000)(2,590)(6,590)(12,625)(7,980)(20,605)
Fair value, end of period$4,125 $2,730 $6,855 $4,125 $2,730 $6,855 
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:
September 30, 2023December 31, 2022
Exercise price$11.50 $11.50 
Stock price$1.32 $1.01 
Volatility88.0 %82.3 %
Term (years)2.713.46
Risk-free interest rate4.87 %4.17 %