XML 61 R33.htm IDEA: XBRL DOCUMENT v3.24.0.1
Warrant Liabilities (Tables)
12 Months Ended
Dec. 31, 2023
Warrants and Rights Note Disclosure [Abstract]  
Fair Value Measurement Inputs and Valuation Techniques
The following table provides quantitative information regarding Level 3 fair value measurement inputs at their measurement dates:
March 26,
2021
December 31,
2020
Exercise price$11.50$11.50
Stock price$15.96$22.76
Volatility42.6%41.4%
Term (years)4.775.00
Risk-free interest rate0.76%0.37%
The range and weighted-average of the significant inputs used to fair value Level 3 recurring liabilities during the year ended December 31, 2020, along with the valuation techniques used, are shown in the following table:
Fair Value
(in thousands)
Valuation
Technique
Observable (O) or
Unobservable (U) Input
Range
(Weighted-Average)
Earnout interests liability$351,048 Option pricing modelShare price (O)
$21.51 - $21.65
Volatility (U)54.6%
Term (U)
2.99 years
Risk-free rate (O)0.17%
Schedule Of Warrant Liabilities, Activity
The following table summarizes the fair values of warrant liabilities and change in fair value at each measurement date:
($ in thousands)Public Warrants (Level 1)Private Warrants (Level 3)Total
Fair value of warrants at December 31, 2020$88,079 $82,030 $170,109 
Change in fair value of warrant liability(10,570)(31,232)(41,802)
Fair value of warrants at redemption(77,509)(50,798)(128,307)
Fair value of warrants at December 31, 2021$— $— $—