Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.23.3
Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of liabilities at fair value on a recurring basis
The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022 and indicate the fair value hierarchy level of the valuation techniques and inputs that the Company utilized to determine such fair value:
September 30, 2023 Quoted Prices in Active Markets Significant Other Observable Input Significant Other Unobservable Inputs
(Level 1) (Level 2) (Level 3)
(in thousands)
Liabilities
Public Warrants $ 1,249  $ —  $ — 
Private Placement Warrants - Issued October 2019 —  —  1,041 
Private Placement Warrants - Issued March 2023 —  —  11,647 
Sponsor Shares —  —  1,446 
$ 1,249  $ —  $ 14,134 
December 31, 2022 Quoted Prices in Active Markets Significant Other Observable Input Significant Other Unobservable Inputs
(Level 1) (Level 2) (Level 3)
(in thousands)
Liabilities
Public Warrants $ 2,097  $ —  $ — 
Private Placement Warrants - Issued October 2019 —  —  1,332 
Sponsor Shares —  —  1,684 
$ 2,097  $ —  $ 3,016 
Schedule of change sin the fair value of Level 3 liabilities The following is a summary of changes in the fair value of the Level 3 liabilities during the nine months ended September 30, 2023:
Sponsor Shares Private Placement Warrants - Issued October 2019 Private Placement Warrants - Issued March 2023
(in thousands)
Balance as of January 1, 2023 $ 1,684  $ 1,332  $ — 
Liability recorded at fair value —  —  17,716 
Gain from changes in fair value (238) (291) (6,069)
Balance as of September 30, 2023 $ 1,446  $ 1,041  $ 11,647