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Related Party Transactions
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Equity Investments
In February 2021, the Company invested $15.0 million in a special purpose acquisition company, of which Mr. Jun Hong Heng, is the Chairman and Chief Executive Officer, and a principal shareholder. Mr. Heng became a director of the Company in June 2021. The terms of such investment were no less favorable to the Company than to other third party investors. During 2021, the Company sold $2.9 million of this investment and had a remaining balance of $12.1 million. The fair value of this investment as of December 31, 2021was $12.2 million.
In August 2021, the Company invested $1.4 million in a special purpose acquisition company, of which Mr. Matthew Simoncini is a director. Mr. Simoncini has been a director of the Company since December 2020. The terms of such investment were no less favorable to the Company than to other third party investors. During 2021, the Company sold this investment in its entirety.