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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of assets and liabilities measured on recurring basis

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	March 31,				​	December 31,
​	​	​	2023				​	2022
(in thousands)	​	​	Level	​	Balance			Level	​	Balance
Cash equivalents	​	​	​	​	​	​	​	​	​	​	​
Money market funds	​	​	1	​	$	125,125	​	1	​	$	150,125
Liabilities	​	​	​	​	​	​	​	​	​	​	​
Earnout liability			3	​	$	3,793	​	3	​	$	1,730
Warrant liability – Public Warrants	​	​	1	​	​	15,399	​	1	​	​	10,164
Warrant liability – Private Placement Warrants	​	​	3	​	​	3,285	​	2	​	​	2,140
Total liabilities	​	​	​	​	$	22,477	​	​	​	$	14,034

Schedule of changes in the fair value of warrant and earnout liabilities

​

​	​	​	​	​	​	​
​	​	Private		​	​	​
​	​	Placement		​	​	​
​	​	Warrant		​	Earnout
(in thousands)	​	Liability		​	Liability
Fair value as of December 31, 2022	​	$	—	​	$	1,730
Change in fair value of liability	​	​	—	​	​	2,063
Transfers into Level 3	​	​	3,285	​	​	—
Fair value as of March 31, 2023	​	$	3,285	​	$	3,793

Private Placement Warrant Liability [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assumptions used in valuation of liability

​

​	​	​	​	​
​	​	March 31,
​	​	2023
Stock price	​	$	7.79
Risk-free interest rate	​	​	3.78	%
Expected term (in years)	​	​	3.3	​
Expected volatility	​	​	33	%
Dividend rate	​	​	—	%
Exercise price	​	$	11.50	​

Earnout Liability [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assumptions used in valuation of liability

​

​	​	​	​	​
​	​	March 31,
​	​	2023
Stock price		$	7.79
Risk-free interest rate	​	​	3.75	%
Expected term (in years)	​	​	2.5	​
Expected volatility	​	​	100	%
Dividend rate	​	​	—	%

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

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- Definition

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
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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Tabular disclosure of derivative liabilities at fair value.

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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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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