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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis | Financial instruments that are measured at fair value on a recurring basis and their corresponding placement in the fair value hierarchy consisted of the following (in thousands):
| June 30, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Assets: |  |  |  |  |  |  |
Money market funds | $ | 93 |  |  | $ | — |  |  | $ | — |  |  | 93 |
Total assets | $ | 93 |  |  | $ | — |  |  | $ | — |  |  | $ | 93 |
Liabilities: |  |  |  |  |  |  |
Warrant liability - Public Warrants | $ | — |  |  | $ | 70 |  |  | $ | — |  |  | $ | 70 |
Warrant liability - Private Warrants | — |  |  | 40 |  |  | — |  |  | 40 |
Equipment Notes | — |  |  | — |  |  | 229,635 |  |  | 229,635 |
Term Loan | $ | — |  |  | $ | — |  |  | 297,800 |  |  | $ | 297,800 |
Total liabilities | $ | — |  |  | $ | 110 |  |  | $ | 527,435 |  |  | $ | 527,545 |
| December 31, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Assets: |  |  |  |  |  |  |
Money market funds | $ | 94 |  |  | $ | — |  |  | $ | — |  |  | $ | 94 |
Total assets | $ | 94 |  |  | $ | — |  |  | $ | — |  |  | $ | 94 |
Liabilities: |  |  |  |  |  |  |
Warrant liability - Public Warrants | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |
Warrant liability - Private Warrants | — |  |  | 5 |  |  | — |  |  | 5 |
Equipment Notes | — |  |  | — |  |  | 256,256 |  |  | 256,256 |
Term Loan | — |  |  | — |  |  | 297,800 |  |  | 297,800 |
Total liabilities | $ | 7 |  |  | $ | 5 |  |  | $ | 554,056 |  |  | $ | 554,068 |
Schedule of Changes in Fair Value of Warrant Liability | The following table presents the changes in the fair value of the warrant liability (in thousands):
| Public Warrants |  | Private Warrants |  | Total Warrant Liability
Fair value as of December 31, 2023 | $ | 7 |  |  | $ | 5 |  |  | $ | 12 |
Change in fair value of warrant liability | 63 |  |  | 35 |  |  | 98 |
Fair value as of June 30, 2024 | $ | 70 |  |  | $ | 40 |  |  | $ | 110 |

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- Definition Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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