FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):

March 31, 2022	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents and restricted cash:
Money market funds	$	211,369	$	—	$	—	$	211,369
Certificate of deposit	—		75		—		75
Total assets	$	211,369	$	75	$	—	$	211,444
Liabilities:
Earnout warrant liabilities	$	—	$	636	$	—	$	636
Public common stock warrants	8,042		—		—		8,042
Private common stock warrants	—		3,815		—		3,815
Total liabilities	$	8,042	$	4,451	$	—	$	12,493

December 31, 2021	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents and restricted cash:
Money market funds	$	237,897	$	—	$	—	$	237,897
Certificate of deposit	—		125		—		125
Total assets	$	237,897	$	125	$	—	$	238,022
Liabilities:
Earnout warrant liabilities	$	—	$	1,476	$	—	$	1,476
Public common stock warrants	18,666		—		—		18,666
Private common stock warrants	—		8,855		—		8,855
Total liabilities	$	18,666	$	10,331	$	—	$	28,997

Schedule of Changes in Fair Value Liabilities on Recurring Basis

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 liabilities at fair value on a recurring basis (in thousands):

	Three Months Ended March 31,
	2022		2021
Warrant liabilities:
Beginning balance December 31	$	—	$	3,329
Change in fair value	—		8,426
Fair value of warrants issued	—		5,096
Fair value of warrants exercised	—		(356)
Ending balance March 31	—		16,495
Series C-2 Convertible Preferred Stock Issuance Right liability:
Beginning balance December 31	—		22,911
Change in fair value	—		138,141
Fair value of derivatives extinguished	—		(23,152)
Ending balance March 31	—		137,900
Total	$	—	$	154,395