Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Measurements [Line Items]  
Schedule of fair value hierarchy
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:
 
    
December 31, 2021
 
(in thousands)
  
Total
    
Level 1
    
Level 2
    
Level 3
 
Assets
                                   
Cash equivalents:
                                   
Money market funds
   $ 13,002      $ 13,002      $ —        $ —    
    
 
 
    
 
 
    
 
 
    
 
 
 
Total assets
   $ 13,002      $ 13,002      $ —        $ —    
    
 
 
    
 
 
    
 
 
    
 
 
 
Liabilities
                                   
Private placement warrant liability
   $ 1,567      $ —        $ —        $ 1,567  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total Liabilities
   $ 1,567      $ —        $ —        $ 1,567  
    
 
 
    
 
 
    
 
 
    
 
 
 
 
    
December 31, 2020
 
(in thousands)
  
Total
    
Level 1
    
Level 2
    
Level 3
 
Assets
                                   
Cash equivalents:
                                   
Money market funds
   $ 7,205      $ 7,205      $ —        $ —    
    
 
 
    
 
 
    
 
 
    
 
 
 
Total assets
   $ 7,205      $ 7,205      $ —        $ —    
    
 
 
    
 
 
    
 
 
    
 
 
 
Schedule of simulation model for the private placement warrants and public warrants
The following table sets forth a summary of the assumptions used to estimate the fair value of the Private Placement Warrant Liability at December 31, 2021:
 
Fair value of underlying instrument
   $ 2.43  
Risk-free interest rate
     1.22
Expected term (in years)
     4.7  
Expected volatility
     65.0
Expected dividend yield
    
Schedule of changes in the fair value of the Company's warrant liability
The following table sets forth a summary of changes in the fair value of the Company’s warrant liability for the year ended December 31, 2021 (in thousands):
 
Beginning warrant liability balance
   $ —    
Private placement warrant liability assumed
     14,075  
Change in fair value of warrant liability
     (12,508
    
 
 
 
Balance at December 31, 2021
   $ 1,567