Warrants

12 Months Ended

Dec. 31, 2021

The following table summarizes the Company's outstanding warrants included in Warrant liabilities on the Consolidated Balance Sheets (dollars in thousands):


	Balance at January 1, 2021			Fair Value Adjustments(1)			Transfers to an Unrelated Third Party			Balance at December 31, 2021
	Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount
Warrant liabilities
5-Year Private Warrants	9,888,415	$	15,326	—	$	(14,368)	(409,585)	$	(294)	9,478,830	$	664
Seller Warrants	12,721,901	63		—	(58)		—	—		12,721,901	5
Total	22,610,316	$	15,389	—	$	(14,426)	(409,585)	$	(294)	22,200,731	$	669


	Balance at January 1, 2020			Warrant Issuances	Fair value adjustments(1)			Transfers to an Unrelated Third Party				Balance at December 31, 2020
	Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants		Amount		Warrants	Amount
Warrant liabilities
5-Year Private Warrants	—	$	—	10,240,000	$	12,185	—	$	3,722	(351,585)		$	(581)	9,888,415	$	15,326
Seller Warrants	12,721,901	18		—	—		—	45		—		—		12,721,901	63
Total	12,721,901	$	18	10,240,000	$	12,185	—	$	3,767	$	(351,585)	$	(581)	22,610,316	$	15,389

(1)Liability classified warrants are subject to fair value remeasurement at each balance sheet date in accordance with ASC 814-40, Contracts on Entity's Own Equity. As a result, fair value adjustments related exclusively to the Company's liability classified warrants. Refer to Note 20 - Fair Value Measurements for further detail on the fair value of the Company's liability classified warrants.

The following table summarizes additional information on the Company's outstanding warrants:

Exercise Price

Exercise Period

Expiration Date

Warrants Outstanding

Warrant liabilities

5-Year Private Warrants

11.50

5 years

May 29, 2025

9,478,830

Seller Warrants

40.31

7 years

October 22, 2022

12,721,901