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Warrants Liability - Related Party
6 Months Ended
Jun. 30, 2022
Other Liabilities Disclosure [Abstract]  
Warrants Liability - Related Party Warrants Liability - Related Party
The Private Placement Warrants issued to the Sponsor of BMRG in its initial public offering on May 22, 2020 became exercisable on May 22, 2021. The Private Placement Warrants are classified as Level 2 financial instruments in the fair value hierarchy. Refer to Note 20 for definition of the fair value hierarchy. They are valued on the basis of the quoted price of the Public Warrants, adjusted for insignificant difference between the Public Warrants and Private Placement Warrants. 325,000 Private Placement Warrants were outstanding with a fair value of $89 and $926 as of June 30, 2022 and December 31, 2021, respectively.
The change in fair value for the three months ended June 30, 2022 and 2021 amounted to $270 and $585 and for the six months ended June 30, 2022 and 2021 amounted to $837 and $361, respectively. The change has been recognized in Change in fair value, warrants liability - related party in the Company’s condensed consolidated statements of operations.