Fair Value of Financial Instruments (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Dec. 31, 2020 |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
| Schedule of Fair Value, Assets and Liabilities Measured on 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, 2021 and December 31, 2020, as well as indicate the fair value hierarchy level of the valuation techniques and inputs that the Company utilized to determine such fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quoted Prices in
Active Markets |
|
|
Significant Other
Observable Input |
|
|
Significant Other
Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,193 |
|
|
|
— |
|
|
|
— |
|
Private Placement Warrants |
|
|
— |
|
|
|
— |
|
|
|
12,363 |
|
|
|
|
— |
|
|
|
— |
|
|
|
15,418 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
24,193 |
|
|
$ |
— |
|
|
$ |
27,781 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quoted Prices in
Active Markets |
|
|
Significant Other
Observable Input |
|
|
Significant Other
Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B Preferred Stock Warrants |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
508 |
|
Series C Preferred Stock Warrants |
|
|
— |
|
|
|
— |
|
|
|
50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020 and 2019 and indicate the fair value hierarchy level of the valuation techniques and inputs that the Company utilized to determine such fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quoted Prices in
Active Markets
(Level 1) |
|
|
Significant Other
Observable Input
(Level 2) |
|
|
Significant Other
Unobservable Inputs
(Level 3) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B Preferred Stock Warrants |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
508 |
|
Series C Preferred Stock Warrants |
|
|
— |
|
|
|
— |
|
|
|
50 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
558 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quoted Prices in
Active Markets
(Level 1) |
|
|
Significant Other
Observable Input
(Level 2) |
|
|
Significant Other
Unobservable Inputs
(Level 3) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B Preferred Stock Warrants |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1 |
|
Series C Preferred Stock Warrants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrants Liabilities [Member] |
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
| Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
The following is a summary of changes in the fair value of the Level 3 liabilities during the nine months ended September 30, 2021 and 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Private
Placement
Warrants |
|
|
Class A
Common
Stock
Warrants |
|
|
Preferred
Stock Warrant
Series B and C |
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
558 |
|
Issuance of financial instruments carried at fair value |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
18,800 |
|
|
|
|
|
Liability recorded at fair value |
|
|
77,033 |
|
|
|
2,715 |
|
|
|
17,659 |
|
|
|
14,902 |
|
|
|
— |
|
|
|
— |
|
Loss/(gain) from changes in fair value |
|
|
64 |
|
|
|
(251 |
) |
|
|
(2,241 |
) |
|
|
(2,539 |
) |
|
|
19,529 |
|
|
|
1,568 |
|
|
|
|
(77,097 |
) |
|
|
(2,464 |
) |
|
|
— |
|
|
|
— |
|
|
|
(38,329 |
) |
|
|
(2,126 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, September 30, 2021 |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,418 |
|
|
$ |
12,363 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following is a summary of changes in the fair value of the Level 3 warrants liabilities for the years ended December 31, 2020 and 2019:
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
| |
|
|
|
Balance at the beginning of the year |
|
$ |
1 |
|
|
$ |
542 |
|
Loss/(gain) from changes in fair value of the warrant liabilities |
|
|
557 |
|
|
|
(541 |
) |
| |
|
|
|
|
|
|
|
|
Balance at the e n d of the year |
|
$ |
558 |
|
|
$ |
1 |
|
| |
|
|
|
|
|
|
|
|
|
| Promissory Note [Member] |
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
|
|
| Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
|
The following is a summary of changes in the fair value of the Level 3 promissory notes for the year ended December 31, 2019:
|
|
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
Balance at the beginning of the year |
|
$ |
24,000 |
|
|
|
|
2,400 |
|
Realized gain on conversion of promissory notes |
|
|
(4,113 |
) |
| |
|
|
|
|
Balance at the conversion date, October 31, 2019 |
|
$ |
22,287 |
|
| |
|
|
|
|
|