FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2022

FAIR VALUE MEASUREMENTS

Schedule of financial instruments measured at fair value on a recurring basis

	June 30, 2022
	Unaudited
	Fair Value		Level 1		Level 2		Level 3
			(in thousands)
Financial Assets:
Financial commitment asset (“FCA”)	$	607	$	—	$	—	$	607
Total Financial Assets	$	607	$	—	$	—	$	607
Financial Liabilities:
Earn out liability	$	1,764	$	—	$	—	$	1,764
Long Term Loan		23,061		—		—		23,061
Warrant liability		1,588		—		—		1,588
Total Financial Liabilities	$	26,413	$	—	$	—	$	26,413

	December 31, 2021
	Fair Value		Level 1		Level 2		Level 3
			(in thousands)
Financial Liabilities:
Earn out liability	$	825	$	—	$	—	$	825
Total Financial Liabilities	$	825	$	—	$	—	$	825

Summary of change in fair value of liabilities

	Long-Term Loan
Balance as of January 1, 2022	$	—
Issuance of Loan		23,070
Change in fair value		(9)
Balance as of June 30, 2022	$	23,061

	Warrant Liability
Balance as of January 1, 2022	$	—
Issuance of warrant liability		1,930
Change in fair value		(342)
Balance as of June 30, 2022	$	1,588

	FCA
Balance as of January 1, 2022	$	—
FCA		607
Change in fair value		—
Balance as of June 30, 2022	$	607

Earn Out Liability [Member]

FAIR VALUE MEASUREMENTS

Schedule of significant unobservable inputs

	June 30,	December 31,
	2022	2021
Expected Term (in years)	0.59		1.08
Expected Volatility	32.1%		32.1%
Beta	45%		45%
Debt Rate	3.18%		0.82%

Warrant Liability

FAIR VALUE MEASUREMENTS

Schedule of significant unobservable inputs

		June 9,		June 30,
		2022		2022
Stock price	$	7.45	$	6.14
Exercise price		6.62		6.62
Expected term (in years)		7.00		6.94
Volatility		148.8%		148.5%
Dividend rate		-		-
Risk-free interest rate		3.13%		3.16%