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Warrants Liability - Related Party
9 Months Ended
Sep. 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 15, Fair Value Measurement). They are valued on the basis of the quoted price of the Company’s public warrants, adjusted for insignificant difference between the public warrants and the private placement warrants. As of September 30, 2022 and December 31, 2021, 325,000 private placement warrants were outstanding with a fair value of $137 and $926, respectively.
The change in fair value for the three months ended September 30, 2022 and 2021 amounted to $(47) and $705 and for the nine months ended September 30, 2022 and 2021 amounted to $790 and $1,066, respectively. The change has been recognized in loss (gain) on change in fair value of derivatives - related party in the Company’s condensed consolidated statements of operations and comprehensive loss.