Warrants (Tables)

6 Months Ended

Jun. 30, 2022

Warrants and Rights Note Disclosure [Abstract]

Schedule of Range of Significant Unobservable Inputs Used in Measurement of Fair Value of Warrants

The fair value of the Private Placement Warrants was estimated utilizing a Black-Scholes model using the following range of significant unobservable inputs (Level 3) as of June 30, 2022:

Stock price	$	23.18
Volatility		43.9	%
Risk-free rate		2.80	%
Dividend yield		8.63	%
Term	1.2 years

Schedule of Reconciliation of Beginning and Ending Balance for Private Placement Warrant Liability Measured at Fair Value

The following is a reconciliation of the beginning and ending balance for the Private Placement Warrant liability measured at fair value using significant unobservable inputs (Level 3) from the date of the Merger through June 30, 2022 (in thousands). There were no warrants outstanding for the Predecessor prior to the date of the Merger.

Balance at June 7	$	2,213
Decrease in fair value		(1,519	)
Balance at June 30	$	694