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NOTES PAYABLE AND DEBT INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2021

The following provides a summary of the interest expense of PCT’s convertible debt instruments (in thousands):


	Three months ended June 30,						Six months ended June 30,
	2021			2020			2021			2020
Contractual interest expense	$	902		$	—		$	1,783		$	—
Amortization of deferred financing costs	439			—			1,080			—
Effective interest rate	9.0		%	—		%	9.0		%	—		%

The following provides a summary of the convertible notes (in thousands):


	As of
	June 30, 2021		December 31, 2020
Unamortized deferred issuance costs	$	2,477	$	3,288
Net carrying amount	59,203		56,712
Fair value	$	215,543	$	123,532
Fair value level	Level 3		Level 3