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Fair Value of Financial Instruments (Tables)
6 Months Ended 11 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2020
Fair Value of Financial Instruments (Tables) [Line Items]      
Schedule of fair value on a recurring basis
Description  Level   June 30,
2021
   December 31,
2020
 
Assets:            
Marketable securities held in Trust Account   1   $229,788,742   $229,884,479 
                
Liabilities:               
Warrant Liability – Private Placement Warrants   3   $6,605,462   $630,224 
Convertible Promissory Notes – Related Party   3    480,400    
 

 

Description  Level  December 31,
2020
 
Assets:        
Cash and marketable securities held in Trust Account  1  $229,884,479 
         
Liabilities:        
Warrant Liability – Private Placement Warrants  3  $630,224 

 

 
Schedule of model for the private placement warrants
Input  June 30,
2021
   December 31,
2020
 
Risk-free interest rate   0.83%   0.35%
Trading days per year   252    252 
Expected volatility   87.6%   17.4%
Exercise price  $11.50   $11.50 
Stock Price  $15.58   $10.00 

 

   June 30,
2021
 
Risk-free interest rate  $0.83%
Trading days per year  $252 
Expected volatility   87.6%
Exercise price  $11.50 
Stock Price  $15.58 
Probability of transaction   90.0%

 

Input  July 24,
2020
(Initial Measurement)
   September 30,
2020
   December 31,
2020
 
Risk-free interest rate   0.34%   0.34%   0.34%
Trading days per year   252    252    252 
Expected volatility   27.0%   27.0%   27.0%
Exercise price  $11.50   $11.50   $11.50 
Stock Price  $10.00   $10.00   $10.00 

 

 
Schedule of changes in the fair value of the Private Placement Warrants
   Private
Placement
Warrants
 
Fair value as of January 1, 2021  $630,224 
Change in valuation inputs or other assumptions   5,975,238 
Fair value as of June 30, 2021  $6,605,462 

 

   Convertible
Promissory
Note
 
Fair value as of January 1, 2021  $
 
Proceeds received through Convertible Promissory Note   200,000 
Change in valuation inputs or other assumptions   280,400 
Fair value as of June 30, 2021  $480,400 
   Warrant
Liability
 
Fair value as of February 11, 2020 (inception)  $
 
Initial measurement on July 24, 2020   154,583 
Change in valuation inputs or other assumptions   475,641 
Fair value as of December 31, 2020  $630,224 

 

 
FF Intelligent Mobility Global Holdings Ltd [Member]      
Fair Value of Financial Instruments (Tables) [Line Items]      
Schedule of financial assets and liabilities measured on recurring basis
   June 30, 2021 
   Level 1   Level 2   Level 3 
Related party notes payable  $
   $
   $21,769 
Notes payable   
    
    213,504 
Warrant liabilities   
    
    7,880 

 

   December 31, 2020 
   Level 1   Level 2   Level 3 
Related party notes payable  $
   $
   $21,627 
Notes payable   
    
    71,064 
The9 Conditional Obligation   
    
    1,128 

 

 
   December 31, 2020 
   Level 1   Level 2   Level 3 
Related party notes payable  $
   $
   $21,627 
Notes payable   
    
    71,064 
The9 Conditional Obligation   
    
    1,128 

 

   December 31, 2019 
   Level 1   Level 2   Level 3 
Related party notes payable  $
   $
   $21,522 
Notes payable   
    
    32,222 
The9 Conditional Obligation   
    
    5,000 

 

Summary of activity for level 3 fair value measurements
  

Related

Party Notes

Payable at

Fair Value

  

Notes

Payable at

Fair Value

  

The9

Conditional

Obligation

  

Warrant

Liabilities

 
Balance as of December 31, 2020  $21,627   $71,064   $1,128   $ 
Proceeds, net of original issuance discount   
    111,641    
    
 
Consent fees   
    1,334    
    
 
Original issue discount (1)   
    9,060    
    
 
Issue costs paid by lender   
    1,900    
    
 
Conversion to equity   
    
    (2,863)   
 
Proceeds allocated to warrants   
    (5,125)   
    
 
Recognition of warrant liability   
    
    
    5,000 
Changes in fair value   142    23,630    1,735    2,880 
Balance as of June 30, 2021  $21,769   $213,504   $
   $7,880 

 

 
   Related
Party Notes
Payable at
Fair Value
   Notes
Payable at
Fair Value
   Put
Option
   The9
Conditional
Obligation
 
Balance as of December 31, 2018  $
   $
   $43,239   $
 
Proceeds   18,112    42,117    
    5,000 
Changes in fair value   3,410    11,773    
    
 
Settlements/expiration   
    (21,668)   (43,239)   
 
Balance as of December 31, 2019   21,522    32,222    
    5,000 
Proceeds   
    30,000    
    
 
Changes in fair value   105    8,843    
    (3,872)
Balance as of December 31, 2020  $21,627   $71,065   $
   $1,128