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NOTES PAYABLE AND DEBT INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2021

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


	Three months ended September 30,						Nine months ended September 30,
	2021			2020			2021			2020
Contractual interest expense	$	906		$	—		$	2,689		$	—
Amortization of deferred financing costs	466			—			1,546			—
Effective interest rate	9.0		%	—		%	9.0		%	—		%

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


	As of
	September 30, 2021		December 31, 2020
Unamortized deferred issuance costs	$	2,010	$	3,288
Net carrying amount	59,670		56,712
Fair value	$	123,332	$	123,532
Fair value level	Level 3		Level 3