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Earn-Out Shares (Tables)

12 Months Ended

Dec. 31, 2021

Schedule Of Estimated Fair Value Of The Earn Out Shares

The estimated fair value of the

Earn-Out Shares

was determined using a Monte Carlo simulation valuation model using a distribution of potential outcomes on a monthly basis over

the earn-out period

using the most reliable information available. Assumptions used in the valuation were as follows:


	December 31, 2021			As of August 25, 2021 at Initial Measurement
Stock price	$	8.28		$	16.98
Expected volatility		65.0	%		60.0	%
Risk-free interest rate		0.6	%		0.2	%
Forecast period (in years)		1.6			2.0
Cost of equity		20.0	%		20.0	%

Schedule Of Activity For Earn Out Liability

The following table presents activity for the

earn-out

liability measured at fair value using significant unobservable Level 3 inputs at the Merger close date (August 25, 2021) and December 31, 2021 (in thousands):


	Earn-out Liability
Earn-out liability—August 25, 2021 (Closing Date)	$	61,024
Incremental shares due to option holder forfeitures		16
Change in fair value—Closing Date through December 31, 2021		(48,910	)

Earn-out liability at December 31, 2021	$	12,130