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Warrants to Purchase Common Stock (Tables)

9 Months Ended

Sep. 30, 2021

Class of Warrant or Right [Line Items]

Schedule of Fair Value Assumptions

The fair value of the redeemable convertible preferred stock warrant liabilities was estimated using the following assumptions:

			June 9, 2021						December 31, 2020
Dividend yield			0.00%						0.00%
Expected volatility			49.93%						49.93%
Expected term (in years)			2.34						2.78
Risk-free interest rate			0.31%						0.17%
Fair value of Series B redeemable convertible preferred stock			$27.00						$12.66

The fair value of the warrant was estimated using the Black-Scholes option pricing model and the following assumptions as of the date of the grant:

Dividend yield			0.0%
Expected volatility			50.0%
Contract term (in years)			5.0
Risk-free interest rate			0.3%

The fair value of the warrants was estimated using the Black-Scholes option pricing model and the following weighted average assumptions:

Dividend yield			0.0%
Expected volatility			50.0%
Contract term (in years)			4.0
Risk-free interest rate			0.6%

September 2020 Common Stock Warrants

Class of Warrant or Right [Line Items]

Schedule of Stockholders' Equity Note, Warrants or Rights

The fair value of the warrant was estimated using the Black-Scholes option pricing model and the following assumptions as of the date of the grant:

Dividend yield			0.0%
Expected volatility			50.0%
Contract term (in years)			5.0
Risk-free interest rate			0.3%

March 2021 Common Stock Warrants

Class of Warrant or Right [Line Items]

Schedule of Stockholders' Equity Note, Warrants or Rights

The fair value of the warrants was estimated using the Black-Scholes option pricing model and the following weighted average assumptions:

Dividend yield			0.0%
Expected volatility			50.0%
Contract term (in years)			4.0
Risk-free interest rate			0.6%

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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