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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table sets forth the Company’s financial assets and liabilities subject to fair value measurements on a recurring basis by level within the fair value hierarchy as of March 31, 2022 (in thousands):


	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	5,250,516	$	—	$	—	$	5,250,516
Total cash and cash equivalents	$	5,250,516	$	—	$	—	$	5,250,516
Other noncurrent assets
Money market funds	$	25,832	$	—	$	—	$	25,832
Total assets	$	5,276,348	$	—	$	—	$	5,276,348

Liabilities:
Common stock warrant liability	$	—	$	—	$	871,478	$	871,478
Total liabilities	$	—	$	—	$	871,478	$	871,478


	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	6,102,017	$	—	$	—	$	6,102,017
Total cash and cash equivalents	$	6,102,017	$	—	$	—	$	6,102,017
Other noncurrent assets
Money market funds	23,179		$	—	$	—	$	23,179
Total assets	$	6,125,196	$	—	$	—	$	6,125,196

Liabilities:
Common stock warrant liability	$	—	$	—	$	1,394,808	$	1,394,808
Total liabilities	$	—	$	—	$	1,394,808	$	1,394,808

Schedule of Reconciliation of Liabilities Measured at Fair Value on a Recurring Basis

A reconciliation of the contingent forward contract liability, convertible preferred stock warrant liability and common stock warrant liability measured and recorded at fair value on a recurring basis was as follows (in thousands):


	Three Months Ended March 31,
	2022		2021
	Common Stock Warrant Liability		Contingent Forward Contract Liability		Convertible Preferred Stock Warrant Liability
Fair value-beginning of period	$	1,394,808	$	—	$	2,960
Issuance	—		2,167,332		—
Change in fair value	(523,330)		442,164		6,976
Settlement	—		(1,444,886)		(9,936)
Fair value-end of period	$	871,478	$	1,164,610	$	—