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Fair Value Measurement (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Fair Value Disclosures [Abstract]    
Schedule of fair value measurements of group’s assets and liabilities of recurring basis
   Fair Value Measurement as of December 31, 2021 
(In thousands)  Quoted Prices
in Active
Market for
Identical Assets
(Level 1)
   Significant
Other
Observable Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
   Total 
Cash and cash equivalents  $480,931    
    
   $480,931 
Restricted cash   55,178    
    
    55,178 
Total financial asset  $536,109    
    
   $536,109 
Warrant liability  $
    
    1,105   $1,105 
Total financial liability  $
    
    1,105   $1,105 

 

   Fair Value Measurement as of March 31, 2022 
(In thousands)  Quoted Prices
in Active
Market for
Identical Assets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
   Total 
Cash and cash equivalents  $416,165    
    
   $416,165 
Restricted cash  $54,568    
    
   $54,568 
Total financial asset  $470,733    
    
   $470,733 
Warrant liability  $
    
    1,540   $1,540 
Total financial liability  $
    
    1,540   $1,540 

 

   Fair Value Measurement as of December 31, 2020 
(In thousands)  Quoted Prices
in Active
Market for
Identical
Assets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
   Total 
Cash and cash equivalents  $21,496    
    
   —
   $21,496 
Restricted cash   19,700    
    
    19,700 
Total  $41,196    
    
   $41,196 

 

   Fair Value Measurement as of December 31, 2021 
(In thousands)  Quoted Prices
in Active
Market for
Identical
Assets
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant Unobservable Inputs
(Level 3)
   Total 
Cash and cash equivalents  $480,931    
    
   $480,931 
Restricted cash   55,178    
    
    55,178 
Total financial asset  $536,109           $536,109 
Warrant liability  $
    
    1,105   $1,105 
Total financial liability  $
    
    1,105   $1,105 

 

Schedule of reconciliation of the beginning and ending balances for level 3 convertible notes

 

(In thousands)

  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 

 

(In thousands)  Bridge
Notes
 
Balance as of January 1, 2021  $
 
Issuance of Bridge Notes   57,500 
Changes in fair value of Bridge Notes   9,861 
Conversion as of Merger   (67,361)
Balance as of December 31, 2021  $
 

 

Schedule of reconciliation of the beginning and ending balances for Level 3 warrant liability
  Three Months Ended
March 31,
 
(In thousands)  2021   2022 
Balance at the beginning of the period   
   $1,105 
Changes in fair value   
    435 
Balance at end of the period  $
   $1,540 

 

 

(In thousands)

  Warrant
Liability
 
Balance as of January 1, 2021  $
 
Assumed warrant liability upon Merger   3,574 
Changes in fair value   (2,469)
Balance as of December 31, 2021  $1,105