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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis | The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):
December 31, 2021 | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents and restricted cash: |  |  |  |  |  |  |
Money market funds | $ | 237,897 |  |  | $ | — |  |  | $ | — |  |  | $ | 237,897 |
Certificate of deposit | — |  |  | 125 |  |  | — |  |  | 125 |
Total assets | $ | 237,897 |  |  | $ | 125 |  |  | $ | — |  |  | $ | 238,022 |
Liabilities: |  |  |  |  |  |  |
Earnout warrant liabilities | $ | — |  |  | $ | 1,476 |  |  | $ | — |  |  | $ | 1,476 |
Public common stock warrants | 18,666 |  |  | — |  |  | — |  |  | 18,666 |
Private common stock warrants | — |  |  | 8,855 |  |  | — |  |  | 8,855 |
Total liabilities | $ | 18,666 |  |  | $ | 10,331 |  |  | $ | — |  |  | $ | 28,997 |
December 31, 2020 | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents and restricted cash: |  |  |  |  |  |  |
Money market funds | $ | 3,046 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,046 |
Certificate of deposit | — |  |  | 326 |  |  | — |  |  | 326 |
Total assets | $ | 3,046 |  |  | $ | 326 |  |  | $ | — |  |  | $ | 3,372 |
Liabilities: |  |  |  |  |  |  |
Derivative liabilities | $ | — |  |  | $ | — |  |  | $ | 22,911 |  |  | $ | 22,911 |
Warrant liabilities | — |  |  | — |  |  | 3,329 |  |  | 3,329 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 26,240 |  |  | $ | 26,240 |
Schedule of Changes in Fair Value Liabilities on Recurring Basis | The following table sets forth a summary of changes in the fair value of the Company’s level 3 liabilities at fair value on a recurring basis for the years ended December 31, 2021 and 2020 (in thousands):
| 2021 |  | 2020
Bridge loan: |  |  |
Beginning balance January 1 | $ | — |  |  | $ | — |
Fair value of Bridge loan funded | 20,000 |  |  | — |
Accrued interest | 1,578 |  |  | — |
Change in fair value | — |  |  | — |
Repayment of loan principal and interest | (21,578) |  |  | — |
Ending balance December 31 | — |  |  | — |
Warrant liabilities: |  |  |
Beginning balance January 1 | 3,329 |  |  | 1,989 |
Change in fair value | 17,753 |  |  | 1,296 |
Fair value of warrants issued | 5,096 |  |  | 44 |
Fair value of warrants exercised | (26,178) |  |  | — |
Ending balance December 31 | — |  |  | 3,329 |
Series C-2 Convertible Preferred Stock Issuance Right liability: |  |  |
Beginning balance January 1 | 22,911 |  |  | 11,379 |
Change in fair value | 223,165 |  |  | 11,532 |
Fair value of derivatives extinguished | (23,152) |  |  | — |
Fair value of Series C-2 Convertible Preferred Stock Issuance Right exercised | (222,924) |  |  | — |
Ending balance December 31 | — |  |  | 22,911 |
Total | $ | — |  |  | $ | 26,240 |

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