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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Key Fair Value Measurement Inputs
The key inputs into the Monte Carlo option pricing model were as follows as of the Closing Date and June 30, 2021 for the respective Level 3 instruments:
Earnout SharesVesting Shares
June 16, 2021
June 30, 2021
June 16, 2021
June 30, 2021
Risk-free interest rate1.56%1.44%1.56%1.44%
Volatility39.03%39.38%39.03%39.38%
Dividend yield—%—%—%—%
Expected term (years)10101010
Share price$10.28$9.54$10.28$9.54
Changes in Fair Value of Level 3 Instruments
The following table presents the changes in the fair value for the respective Level 3 instruments recognized in change in fair value of contingent common shares liability in the condensed consolidated statements of operations for the three and six months ended June 30, 2021:
Earnout Shares LiabilityVesting Shares Liability
Fair value as of Business Combination, June 16, 2021$140,000 $80,500 
Changes in fair value(13,300)(7,648)
Fair value as of June 30, 2021$126,700 $72,852