FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value, Assets Measured on Recurring Basis

Financial instruments that are measured at fair value on a recurring basis and their corresponding placement in the fair value hierarchy consist of the following (in thousands):


	September 30, 2021
	Level 1		Level 2		Level 3		Fair Value
Assets:
Money market funds	$	408,056	$	—	$	—	$	408,056

Liabilities:
Warrant liability - Public Warrants	10,150		—		—		10,150
Warrant liability - Private Warrants	—		5,798		—		5,798
Total liabilities	$	10,150	$	5,798	$	—	$	15,948

	December 31, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets:
Money market funds	$	103,472	$	—	$	—	$	103,472

Fair Value, Warrant Liabilities

The following table presents the changes in the fair value of the warrant liability (in thousands):


	Public Warrants		Private Warrants		Total Warrant Liability
Fair value as of December 31, 2020	$	—	$	—	$	—
Assumption of Warrants in Business Combination	17,981		10,238		28,219
Change in fair value of warrant liability	(7,831)		(4,440)		(12,271)
Fair value as of September 30, 2021	$	10,150	$	5,798	$	15,948