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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy for Financial Assets and Liabilities

The following table presents the Company’s fair value hierarchy for financial assets and liabilities:

		Fair Value Measurements as of December 31, 2022
		Level 1				Level 2				Level 3				Total
Liabilities:
Public Warrants		$	2,381			$	—			$	—			$	2,381
Private Placement Warrants			—				—				1,723				1,723
Earnout liability			—				—				32,110				32,110
		Fair Value Measurements as of May 26, 2022
		Level 1				Level 2				Level 3				Total
Liabilities:
Public Warrants		$	5,397			$	—			$	—			$	5,397
Private Placement Warrants			—				—				3,834				3,834
Earnout liability			—				—				93,880				93,880

Summary of Significant Inputs to Monte Carlo Simulation for Fair Value of Private Placement Warrants and Earnout Liability

The following table provides the significant inputs to the Monte Carlo simulation for the fair value of the Private Placement Warrants as of December 31, 2022 and the Closing Date:

		As of
		December 31, 2022				May 26, 2022
Stock price		$	3.73			$	9.02
Exercise price		$	11.50			$	11.50
Risk-free rate			4.0	%			2.7	%
Volatility			42.2	%			13.4	%
Term (in years)			4.4				5.0

The following table provides the significant inputs to the Monte Carlo simulation for the fair value of the Earnout liability as of December 31, 2022 and the Closing Date, the date of initial measurement:

		As of
		December 31, 2022				May 26, 2022
Stock price		$	3.73			$	9.02
Risk-free rate			4.1	%			2.7	%
Volatility			70.0	%			60.0	%
Term (in years)			4.4				5.0

Summary of Changes in the Fair Value of Company's Level 3 Financial Instruments

The following table presents the changes in fair value of the Company’s Level 3 financial instruments that are measured at fair value as of December 31, 2022 and the Closing Date, the date of initial measurement:

		Private Placement Warrants				Earnout Liability				Total
Fair value as of May 26, 2022 (initial measurement)		$	3,834			$	93,880			$	97,714
Gain from change in fair value			(2,111	)			(61,770	)			(63,881	)
Fair value as of December 31, 2022		$	1,723			$	32,110			$	33,833

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- Definition

Schedule of changes in the fair value of warrant liabilities.

+ 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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- 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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-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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