FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis were as follows:

	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
March 31, 2022:
Equity securities at fair value	$	246,484	$	—	$	—	$	246,484
Total	$	246,484	$	—	$	—	$	246,484
December 31, 2021:
Equity securities at fair value	$	113,630	$	248,148	$	—	$	361,778
Total	$	113,630	$	248,148	$	—	$	361,778
Liabilities
March 31, 2022:
Series A warrants	$	—	$	—	$	10,395	$	10,395
Series A embedded derivative liabilities	—		—		14,506		14,506
Series B warrants	—		—		73,118		73,118
Total	$	—	$	—	$	98,019	$	98,019
December 31, 2021:
Series A warrants	$	—	$	—	$	11,291	$	11,291
Series A embedded derivative liabilities	—		—		18,448		18,448
Series B warrants	—		—		96,378		96,378
Total	$	—	$	—	$	126,117	$	126,117

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of the changes in the estimated fair value of the Company’s Level 3 liabilities, which are measured at fair value as a on a recurring basis:

	Series A Warrant Liabilities		Series A Embedded Derivative Liabilities		Series B Warrant Liabilities		Total
	(In thousands)
Balance at December 31, 2020	$	—	$	26,728	$	52,341	$	79,069
Transfer to Level 3	6,640		—		—		6,640
Remeasurement to fair value	11,603		13,691		173,615		198,909
Balance at March 31, 2021	$	18,243	$	40,419	$	225,956	$	284,618
Balance at December 31, 2021	$	11,291	$	18,448	$	96,378	$	126,117
Remeasurement to fair value	(896)		(3,942)		(23,260)		(28,098)
Balance at March 31, 2022	$	10,395	$	14,506	$	73,118	$	98,019