FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2020

FAIR VALUE MEASUREMENTS

Summary of the net loss on changes in fair value (in thousands) related to the Public and Private Warrants

The following table summarizes the net loss on changes in fair value (in thousands) related to the Public and Private Warrants:

	Year ended
	December 31, 2020
Public Warrants	$	(17,920)
Private Warrants		(5,573)
Net loss on changes in fair value	$	(23,493)

Summary of the valuation of financial instruments

The following tables summarize the valuation of our financial instruments (in thousands):

	Total		Quoted prices in active markets (Level 1)		Prices with observable inputs (Level 2)		Prices with unobservable inputs (Level 3)
December 31, 2019
Cash and cash equivalents	$	2,159	$	2,159	$	—	$	—
	Total		Quoted prices in active markets (Level 1)		Prices with observable inputs (Level 2)		Prices with unobservable inputs (Level 3)
December 31, 2020
Cash and cash equivalents	$	629,761	$	629,761	$	—	$	—
Public Warrants		57,515		57,515		—		—
Private Warrants		43,877		—		—		43,877

Schedule of loss (gain) in fair value recognized in earnings

The following table summarizes the change in our Level 3 financial instruments (in thousands):

	Balance at December 31, 2019		Additions		Settlements		Loss / (Gain) on fair value adjustments included in earnings		Balance at December 31, 2020
Private Warrants	$	—		38,304		—		5,573	$	43,877