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Fair Value Measurements (Q3) (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value Liabilities Measured on Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands):

		Level				September 30, 2021				December 31, 2020
Liabilities:
Warrant liability – Public Warrants			1			$	54,000			$	—
Warrant liability – Private Placement Warrants			3				56,350				—
Total warrant liability						$	110,350			$	—

Schedule of Derivative Liabilities at Fair Value

The following tables summarize the changes in the fair value of the warrant liabilities (in thousands):

	Three months ended September 30, 2021
	Public Warrants				Private Placement Warrants				Warrant Liabilities
Fair value, beginning of period		$	79,375			$	76,812			$	156,187
Change in valuation inputs or other assumptions			(25,375	)			(20,462	)			(45,837	)
Fair value, end of period		$	54,000			$	56,350			$	110,350

		Nine months ended September 30, 2021
		Public Warrants				Private Placement Warrants				Warrant Liabilities
Fair value, beginning of period		$	—			$	—			$	—
Warrant liability acquired			100,750				93,228				193,978
Change in valuation inputs or other assumptions			(46,750	)			(36,878	)			(83,628	)
Fair value, end of period		$	54,000			$	56,350			$	110,350

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

		September 30, 2021				June 16, 2021
Exercise price		$	11.50			$	11.50
Stock price		$	14.50			$	20.55
Volatility			60.0	%			60.0	%
Term (years)			4.71				5.00
Risk-free interest rate			0.92	%			0.89	%

X

- 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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure of derivative liabilities at fair value.

+ References

No definition available.

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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/2003/role/disclosureRef
-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

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-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

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