Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables are summaries of fair value measurements and hierarchy level as of:

	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	—	$	—	$	—
Equity securities	481		—		—		481
Fixed maturity debt securities, including cash equivalents	—		88,119		—		88,119
Total Assets	$	481	$	88,119	$	—	$	88,600
Liabilities:
Merger warrants liability	926		552		—		1,478
Earnout shares liability	—		—		1,063		1,063
Total Liabilities	$	926	$	552	$	1,063	$	2,541

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	—	$	—	$	—
Equity securities	558		—		—		558
Fixed maturity debt securities	—		135,346		—		135,346
Total Assets	$	558	$	135,346	$	—	$	135,904
Liabilities:
Merger warrants liability	$	3,941	$	2,350	$	—	$	6,291
Earnout shares liability	—		—		7,679		7,679
Total Liabilities	$	3,941	$	2,350	$	7,679	$	13,970

Schedule of Reconciliation of the Redeemable Convertible Preferred Stock and Warrant Liability

The following tables set forth a summary of changes in the estimated fair value of the Company’s Level 3 redeemable convertible preferred stock tranche obligation, historic warrants liability and earnout shares for the six months ended June 30, 2022 and 2021:

	January 1, 2022		Issuances		Settlements		Change in fair value		June 30, 2022
Earnout shares	7,679		—		—		(6,616)		1,063
Total	$	7,679	$	—	$	—	$	(6,616)	$	1,063

	January 1, 2021		Issuances		Settlements		Change in fair value		June 30, 2021
Redeemable convertible preferred stock tranche obligation	$	2,832	$	—	$	(2,832)	$	—	$	—
Historic warrants liability	144				(144)		—		—
Earnout shares	—		74,284		—		(44,056)		30,228
Total	$	2,976	$	74,284	$	(2,976)	$	(44,056)	$	30,228

Schedule of Significant Inputs Used

The table below summarizes the significant observable inputs used when valuing the earnout shares as of:

	June 30, 2022		June 30, 2021
Expected volatility	120.00	%	85.00	%
Starting stock price	$0.39		$5.46
Expected term (in years)	3.6 years		4.60 years
Risk-free interest rate	3.00	%	0.79	%
Earnout hurdle	$12.50-$15.00		$12.50-$15.00