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Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of assumptions used in valuation of convertible notes

Probability for Conversion

 

90%

Probability for Redemption

 

10%

Remaining life

 

0.1 – 2.5 years

Schedule of fair value measurements of group’s assets and liabilities of recurring basis
 

Fair Value Measurement as of December 31, 2020

   

Quoted
Prices in
Active
Market for
Identical
Assets

 

Significant
Other
Observable
Inputs

 

Significant
Unobservable
Inputs

 

Total

   

(Level 1)

 

(Level 2)

 

(Level 3)

   

Cash and cash equivalents

 

$

21,496

 

 

 

$

21,496

Restricted cash

 

 

19,700

 

 

 

 

19,700

Total

 

$

41,196

 

 

 

$

41,196

 

Fair Value Measurement as of June 30, 2021

   

Quoted
Prices in
Active
Market for
Identical
Assets

 

Significant
Other
Observable
Inputs

 

Significant
Unobservable
Inputs

 

Total

   

(Level 1)

 

(Level 2)

 

(Level 3)

   

Cash and cash equivalents

 

$

13,367

 

 

 

$

13,367

Restricted cash

 

 

20,460

 

 

 

 

20,460

Convertible notes

 

 

 

 

64,343

 

 

64,343

Total

 

$

33,827

 

 

64,343

 

$

98,170

Schedule of reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis
 

Convertible
notes

Balance as of January 1, 2021

 

$

Issuance of convertible notes

 

 

57,500

Changes in fair value of convertible notes

 

 

3,600

Balance as of March 31, 2021

 

$

61,100

Changes in fair value of convertible notes

 

 

3,243

Balance as of June 30, 2021

 

$

64,343