XML 57 R38.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Dec. 31, 2020
Fair Value Disclosures [Abstract] |  |
Schedule of financial assets and liabilities measured at fair value |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
June 30, 2021 |  |  |  |  |  |  |  |  |  |
Warrants |  | — |  | — |  | $ | 145,673 |  | $ | 145,673
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Warrants |  | — |  | — |  | $ | 101,325 |  | $ | 101,325
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Warrants |  | — |  | — |  | $ | 101,325 |  | $ | 101,325
December 31, 2019 |  |  |  |  |  |  |  |  |  |
Warrants |  | — |  | — |  | $ | 3,531 |  | $ | 3,531
Schedule of fair value warrants estimated using the Black-Scholes option-pricing model |
|  | June 30, 2021 |  | December 31, 2020
Discount for lack of marketability |  |  | 4.8% – 8.5% |  |  | 10.0%
Equity value |  | $ | 669,501,746 – $713,272,646 |  | $ | 525,034,000
Expected volatility |  |  | 51.5% – 56.7% |  |  | 59.50%
Dividend rate |  |  | — |  |  | —
Expected term (in years) |  |  | 0.83 – 2.50 |  |  | 3.00
Risk-free interest rate |  |  | 0.10% – 0.35% |  |  | 0.17%
|  | December 31, 2020 |  | December 31, 2019
OPM Inputs/Assumptions |  | Values |  | Values
Equity Value |  | $ | 525,034,000 |  |  | 20,369,000 |
Holding Period/Term (years) |  |  | 3.00 |  |  | 5.00 |
Volatility |  |  | 59.50 | % |  | 51.00 | %
Risk-Free Rate |  |  | 0.17 | % |  | 1.67 | %
Discount for Lack of Marketability |  |  | 10.0 | % |  | 9.5 | %
Schedule of beginning and ending balances for the liabilities measured at fair value |
Warrants: |  | (in thousands)
Balance as of December 31, 2020 |  | $ | 101,325 |
Vesting of Vendor Warrants |  |  | 5,504 |
Fair value adjustment for Vendor Warrants |  |  | (11,722 | )
Fair value adjustment for Financing Warrants |  |  | 50,566 |
Balance as of June 30, 2021 |  | $ | 145,673 |
Warrants: |  | (in thousands)
Balance as of January 1, 2020 |  | $ | 3,531
Issuance of warrants in connection with Fortress Financing Agreement |  |  | 190
Fair value adjustment of outstanding warrants |  |  | 97,604
Balance as of December 31, 2020 |  | $ | 101,325

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + 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 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration