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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis The following table sets forth by level, within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring basis as of September 30, 2021:
(in thousands)Carrying
Value
Quoted Prices in
Active Markets
for Identical
Items
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Liabilities measured at fair value on a recurring basis:
Contingent consideration$46,706 $— $— $46,706 
Public Warrant Liabilities94,990 94,990 — — 
Private Placement Warrant Liabilities43,503 — — 43,503 
Total Liabilities$185,199 $94,990 $— $90,209 
The following table sets forth by level, within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring basis as of December 31, 2020:

(in thousands)Carrying
Value
Quoted Prices in
Active Markets
for Identical
Items
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Liabilities measured at fair value on a recurring basis:
Contingent consideration$5,172 $— $— $5,172 
Total Liabilities$5,172 $— $— $5,172 
Summary of Liabilities Measured At Fair Value Using Significant Unobservable Inputs Activity of the assets and liabilities measured at fair value using significant unobservable inputs was as follows:
Fair Value Measurements
For the three months ended September 30,
20212020
Opening balance as at July 1,$136,190 $75,800 
Change in fair value of embedded derivative— 5,138 
Change in fair value of contingent consideration(3,940)— 
Contingent consideration recognized due to acquisitions38,300 — 
Change in fair value of warrants14,649 — 
Contingent consideration reclassified to due to seller— (16,059)
Contingent consideration payments— (3,000)
Closing balance as at September 30,$185,199 $61,879 
Fair Value Measurements
For the nine months ended September 30,
20212020
Opening balance as at January 1,$5,172 $23,429 
Embedded derivative recognized under Term Loan 2— 51,328 
Change in fair value of embedded derivative— 5,444 
Change in fair value of contingent consideration(4,152)— 
Contingent consideration recognized due to acquisitions47,900 2,695 
Warrants acquired in the Business Combination163,058 — 
Change in fair value of warrants(24,565)— 
Contingent consideration reclassified to due to seller— (16,059)
Contingent consideration settled through equity— (1,958)
Contingent consideration payments(2,214)(3,000)
Closing balance as at September 30,$185,199 $61,879 
Embedded Derivative Liability  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements The recurring Level 3 fair value measurements of the embedded derivative liability included the following significant unobservable inputs as of June 1, 2020 and September 30, 2020:
Range as of
Unobservable InputJune 1, 2020September 30, 2020
Probability of change of control90%80%
Probability of issuance of debt5%15%
Expected date of eventFourth Quarter 2020Fourth Quarter 2020
Discount rate39%38%
Warrant Liabilities  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements
The following table provides quantitative information regarding the Level 3 inputs used for the fair value measurements of the warrants liabilities:

As of
Unobservable InputJune 3, 2021September 30, 2021
Exercise price$11.50$11.50
Stock price$14.75$12.68
Term (years)5.04.7
Volatility37.1%—%
Risk free interest rate0.8%0.9%
Dividend yieldNoneNone
Public warrant priceNone$4.13