Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The Company’s assets and liabilities measured at fair value on a recurring basis are summarized in the following table by fair value measurement level ($ in thousands):

		December 31,
Description	Level	2021		2020
Assets:
Investments	1	$	32,332	$	—
Liabilities:
Public Warrants	1	$	14,167	$	—
Private Warrants	2	396		—
Legacy Heliogen preferred stock warrants	3	—		46

Reconciliation of Level 3 Fair Value Liabilities

The following table summarizes the reconciliation of our level 3 fair value measurements ($ in millions):

Instrument	December 31, 2020		Issuances(1)	Losses(2)	Conversion(3)	December 31, 2021
SAFE Instruments	$	—	83,411	86,907	(170,318)	$	—
Legacy Heliogen preferred stock warrants	$	46	—	2,965	(3,011)	$	—

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(1)Net of issuance costs.

(2)The losses for the changes in the fair value of the SAFE Instruments and preferred stock warrants are reported in our Consolidated Statements of Operations and Comprehensive Loss in the line items SAFE Instrument remeasurement and warrant remeasurement, respectively.

(3)On December 30, 2021, immediately prior to the Merger closing, the SAFE Instruments and preferred stock warrants were converted into 20,080,464 shares of common stock and 354,738 shares of common stock, respectively.

Schedule of Fair Value Inputs and Valuation Techniques

The table below summarizes key inputs used in the valuation for the SAFE Instruments and Legacy Heliogen preferred stock warrants at their time of conversion on December 30, 2021:

Expected volatility	50.0	%
Risk-free interest rate	0.1	%
Dividend yield	—