Quarterly report pursuant to Section 13 or 15(d)

Equity Warrants Classified as Derivative Liabilities

v3.22.2.2
Equity Warrants Classified as Derivative Liabilities
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Equity Warrants Classified as Derivative Liabilities 10. Equity Warrants Classified as Derivative Liabilitieserivative liabilities must be measured at fair value upon issuance and re-valued at the end of each reporting period through expiration and are included in derivative liabilities in the
Company's unaudited condensed consolidated balance sheets. Any change in fair value between the respective reporting dates is recognized as an unrealized gain or loss in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss (Note 16). In the nine months ended September 30, 2022, the Company's derivative liabilities were made up of only the equity warrants and the Sponsor Shares. In the nine months ended September 30, 2021, the Company's derivative liabilities included warrants, Consent Fees from the Bridge Notes (see Note 9), and Legacy BlackSky preferred stock warrants.
The following table is a summary of the number of shares of the Company’s Class A common stock issuable upon exercise of warrants at September 30, 2022:
Number of Shares Exercise Price Redemption Price Expiration Date Classification Gain in value for the nine months ended September 30, 2022 Fair Value at September 30, 2022
(in thousands) (in thousands)
Public Warrants 15,813  $ 11.50  $ 18.00  9/9/2026 Liability $ 5,851  $ 2,846 
Private Placement Warrants 4,163  $ 11.50  $ 18.00  9/9/2026 Liability 1,456  1,041 
Private Placement Warrants 4,163  $ 20.00  $ 18.00  9/9/2026 Liability 416  583 
In addition, the Company has 1.8 million Class A common stock warrants outstanding which have an exercise price of $0.11 and expiration dates from June 27, 2028 to October 31, 2029. These warrants are equity classified and are included in additional paid-in capital in the Company’s unaudited condensed consolidated balance sheets.