Quarterly report pursuant to Section 13 or 15(d)

WARRANTS (Tables)

v3.22.2.2
WARRANTS (Tables)
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Summary of Public and Private Warrants Activities
The following table summarizes the Public and Private Warrants activities for the three and nine months ended September 30, 2022 (amounts in thousands):
Three Months Ended September 30, 2022
Public Warrants Private Warrants Total Warrants
Beginning of period 8,900  5,167  14,067 
Warrants exercised (8,665) —  (8,665)
Warrants redeemed (235) —  (235)
End of period —  5,167  5,167 
Nine Months Ended September 30, 2022
Public Warrants Private Warrants Total Warrants
Warrants assumed upon the Closing of the Merger 9,583  5,167  14,750 
Warrants exercised (9,348) —  (9,348)
Warrants redeemed (235) —  (235)
End of period —  5,167  5,167 
Summary of Public and Private Warrants Liabilities Fair Value The following table presents the changes in the fair value of the Company’s Public and Private Warrants liabilities for the three and nine months ended September 30, 2022 (amounts in thousands):
Three Months Ended September 30, 2022
Public Warrants Private Warrants Total Warrants
Beginning of period $ 13,439  $ 8,060  $ 21,499 
Warrants exercised (14,499) —  (14,499)
Warrants redeemed (23) —  (23)
Change in fair value 1,083  (7,789) (6,706)
End of period $ —  $ 271  $ 271 
Nine Months Ended September 30, 2022
Public Warrants Private Warrants Total Warrants
Warrant liability assumed upon the Closing of the Merger $ 12,938  $ 6,900  $ 19,838 
Warrants exercised (17,483) —  (17,483)
Warrants redeemed (23) —  (23)
Change in fair value 4,568  (6,629) (2,061)
End of period $ —  $ 271  $ 271 
Summary of Valuations Assumptions to Estimate Fair Value of Private Warrants
The following table provides the assumptions used to estimate the fair value of the Private Warrants as of September 30, 2022:
September 30, 2022
Common stock price $ 5.28 
Exercise price $ 11.50 
Expected term (in years) 4.37
Expected volatility 17.4  %
Risk-free interest rate 4.2  %
Expected dividend yield —  %