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Warrants
3 Months Ended
Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]  
Warrants

(13) Warrants

The Company has issued and outstanding Warrants to purchase Class A Common Stock at a price of $11.50 per share, subject to adjustment for stock splits and/or extraordinary dividends, as described in the Assignment, Assumption and Amendment Agreement between the Company and Computershare Trust Company, N.A., as warrant agent, in respect of the Warrant Agreement between Thayer and Continental Stock Transfer & Trust Company (collectively, the “Warrant Agreement”). As of March 31, 2022, there were 8.6 million Public Warrants outstanding. Each of the Public Warrants are exercisable for one share of Class A Common Stock.

The Company accounts for Public Warrants as liabilities at fair value within financial instruments on the condensed consolidated balance sheets because the Warrants do not meet the criteria for classification within equity. The Public Warrants are subject to remeasurement at each balance sheet date. As of March 31, 2022, the Public Warrants had a fair value of $17 million. For the three months ended March 31, 2022, a loss of $18 million was recorded in warrant fair value losses in the condensed consolidated statement of comprehensive loss.