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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Measurements (Tables) [Line Items]  
Schedule of assets that are measured at fair value on a recurring basis
 

Level

 

December 31,
2021

Assets:

     

 

 

Marketable securities held in Trust Account

 

1

 

$

230,021,238

       

 

 

Liabilities:

     

 

 

Warrant liability – Public Warrants

 

1

 

$

7,585,400

Warrant liability – Private Placement Warrants

 

3

 

$

10,920,000

Schedule of binomial lattice model for warrants
 

January 28,
2021
(Initial Measurement)

 

December 31,
2021

Input

 

Public
Warrants

 

Private Warrants

 

Private
Warrants

Market price of public shares

 

$

9.61

 

 

$

9.61

 

 

9.84

 

Risk-free rate

 

 

1.00

%

 

 

1.00

%

 

1.23

%

Dividend yield

 

 

0.00

%

 

 

0.00

%

 

0.00

%

Exercise price

 

$

11.50

 

 

$

11.50

 

 

11.50

 

Effective expiration date

 

 

6/12/26

 

 

 

6/12/26

 

 

10/29/26

 

One-touch hurdle

 

$

18.13

 

 

 

 

 

 
 

 

Schedule of changes in the fair value of warrant liabilities
 

Private
Placement

 

Public

 

Warrant
Liabilities

Initial measurement on January 28, 2021

 

$

4,740,000

 

$

8,970,000

 

 

$

13,710,000

 

Change in fair value

 

 

6,180,000

 

 

(2,070,000

)

 

 

4,110,000

 

Transfer to Level 1

 

 

 

 

(6,900,000

)

 

 

(6,900,000

)

Fair value as of December 31, 2021

 

$

10,920,000

 

$

 

 

$

10,920,000

 

Blade Therapeutics, Inc. [Member]  
Fair Value Measurements (Tables) [Line Items]  
Schedule of changes in the fair value of warrant liabilities

Balance as of December 31, 2019

 

$

3,389

 

Payment of qualifying indemnification expenses

 

 

(63

)

Change in fair value

 

 

(220

)

Settlement in Series C-1 convertible preferred stock

 

 

(3,063

)

Settlement in cash

 

 

(43

)

Balance as of December 31, 2020

 

$

 

Schedule of financial assets and liabilities measured and recognized at fair value
 

December 31, 2020

   

Level 1

 

Level 2

 

Level 3

 

Fair Value

   

(in thousands)

Assets:

 

 

   

 

   

 

   

 

 

Cash and cash equivalents

 

 

   

 

   

 

   

 

 

Money market funds

 

$

1,613

 

$

 

$

 

$

1,613

Total financial assets

 

$

1,613

 

$

 

$

 

$

1,613

   

 

   

 

   

 

   

 

 

Liabilities:

 

 

   

 

   

 

   

 

 

Contingent Consideration

 

$

 

$

 

$

6,432

 

$

6,432

Convertible Notes at fair value

 

 

 

 

 

 

23,410

 

 

23,410

Warrant Liability

 

 

 

 

 

 

630

 

 

630

Total financial liabilities

 

$

 

$

 

$

30,472

 

$

30,472

 

December 31, 2021

   

Level 1

 

Level 2

 

Level 3

 

Fair Value

   

(in thousands)

Assets:

 

 

   

 

   

 

   

 

 

Cash and cash equivalents

 

 

   

 

   

 

   

 

 

Money market funds

 

$

1,972

 

$

 

$

 

$

1,972

Total financial assets

 

$

1,972

 

$

 

$

 

$

1,972

   

 

   

 

   

 

   

 

 

Liabilities:

 

 

   

 

   

 

   

 

 

Contingent Consideration

 

$

 

$

 

$

7,011

 

$

7,011

Convertible Notes at fair value

 

 

 

 

 

 

46,360

 

 

46,360

Warrant Liability

 

 

 

 

 

 

3,135

 

 

3,135

Total financial liabilities

 

$

 

$

 

$

56,506

 

$

56,506

Schedule of changes in the fair value of the contingent consideration

Balance as of December 31, 2019

 

$

5,394

Change in fair value

 

 

1,038

Balance as of December 31, 2020

 

$

6,432

Change in fair value

 

 

579

Balance as of December 31, 2021

 

$

7,011

Schedule of provides the changes in the fair value of the convertible notes

Balance as of December 31, 2019

 

$

 

Proceeds from issuance 2020 convertible notes and warrants

 

 

20,716

 

Proceeds allocated to 2020 common stock warrants at fair value

 

 

(630

)

Interest expense accrued

 

 

647

 

Change in fair value of convertible notes

 

 

2,677

 

   

 

 

 

Balance as of December 31, 2020

 

$

23,410

 

Proceeds from issuance 2021 convertible notes and warrants

 

 

20,000

 

Proceeds allocated to 2021 common stock warrants and tranche obligation at fair value

 

 

(1,692

)

Interest expense accrued

 

 

2,145

 

Change in fair value of convertible notes

 

 

2,497

 

   

 

 

 

Balance as of December 31, 2021

 

$

46,360

 

Schedule of assumptions used for the valuation of the warrants
 

December 31,

   

2020

 

2021

Risk-free interest rate

 

0.09% – 0.34%

 

0.10% – 0.49%

Weighted-average expected term (years)

 

0.75 – 4.80

 

1.20 – 1.51

Weighted-average expected volatility

 

87.4% – 88.2%

 

86.4% – 87.5%

Dividend yield

 

—%

 

—%

 

Year ended
December 31,
2021

Risk-free interest rate

 

0.02% –

 

0.05%

Weighted-average expected term (years)

 

0.25

   

Weighted-average expected volatility

 

25.0%

   

Dividend yield

 

—%

   
Schedule of change in fair value of the 2020 and 2021 Warrants

Balance as of December 31, 2019

 

$

Issuance of 2020 warrants

 

 

630

Balance as of December 31, 2020

 

$

630

Issuance of 2021 warrants

 

 

1,644

Change in fair value of the 2020 and 2021 Warrants

 

 

861

Balance as of December 31, 2021

 

$

3,135

Schedule of change in fair value of the 2021 Convertible Note tranche obligation

Initial recognition of tranche obligation upon issuance of 2021 Convertible Notes

 

$

48

 

Change in fair value

 

 

44

 

Extinguishment of tranche obligation

 

 

(92

)

Balance as of December 31, 2021

 

$