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Earnout Liability (Tables)
 6 Months Ended
Jun. 30, 2022
Derivative Instrument Detail [Abstract]  
Summary of Earnout Liability Activity

The following represents a summary of the earnout liability activity during the six months ended June 30, 2022:

 

Earnout Liability

 

Balance at December 31, 2021

$

—

 

Recognized upon Business Combination

 

58,871

 

Changes in fair value

 

(52,681

)

Balance at June 30, 2022

$

6,190

 
Summary of Weighted Average Assumptions Used to Determine Fair Value of Earnout Liability

The following weighted-average assumptions were used to determine the fair value of the earnout liability at June 30, 2022:

 

Earnout Liability

 

Expected term

4.5 years

 

Expected volatility

 

62.0

%

Expected dividend yield

 

0.0

%

Risk free interest rate

 

3.0

%

Price of Gelesis Common Stock

$

1.55