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Earn-Out Shares (Tables)
12 Months Ended
Dec. 31, 2021
Earn-Out Shares.  
Fair Value Measurement Inputs and Valuation Techniques Assumptions used in the valuations were as follows:

    

December 31, 2021

    

October 6, 2021

 

Stock price

$

12.47

$

10.05

Expected volatility

 

55.0

%  

 

55.0

%

Risk-free interest rate

 

0.91

%  

 

0.57

%

Forecast period (in years)

 

2.8

 

3.0

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation The following table presents activity for the earn-out liability measured at fair value using significant unobservable Level 3 inputs from the Closing Date to December 31, 2021:

(In thousands)

    

Earn-Out Liability

Balance at October 6, 2021

$

67,600

Impact of incremental shares due to option holder forfeitures

 

627

Change in fair value

 

30,673

Balance at December 31, 2021

$

98,900