Registration statement for securities of certain foreign private issuers

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables) - Collective Growth Corp [Member]
 12 Months Ended
Dec. 31, 2020
Schedule of Fair Value on a Recurring Basis
Description
   
Level
     
December 31,
2020
  
Assets:
      
Marketable securities held in Trust Account
      1      $ 150,100,083  
Liabilities:
      
Warrant Liability – Public Warrants
      1        28,875,000  
Warrant Liability – Private Placement Warrants
      3        13,100,813  
Summary of Fair Value Measurement Inputs and Valuation Techniques
The key inputs into the Binomial Lattice Model for the Public Warrants were as follows at initial measurement:
 
Input
   
May 5, 2020
(Initial
Measurement)
  
Risk-free interest rate
      0.4 % 
Dividend Yield
      0.0 % 
Expected volatility
      35.0 % 
Contractual term (years)
      5.5  
Probability of closing
      80.00 % 
Exercise price
    $ 11.50  
Stock Price
    $ 9.15  
 
The key inputs into the Black-Scholes Model for the Private Placement Warrants were as follows at initial measurement:
 
Input
   
May 5, 2020
(Initial
Measurement)
  
Risk-free interest rate
      0.4 % 
Dividend Yield
      0.0 % 
Expected volatility
      35.0 % 
Contractual term (years)
      5.5  
Probability of closing
      80.00 % 
Exercise price
    $ 11.50  
Stock Price
    $ 9.15  
Summary of Change in the Fair Value of the Warrant Liabilities
The following table presents the changes in the fair value of warrant liabilities:
 
    
Private
Placement
     
Public
     
Warrant
Liabilities
  
Fair value as of January 1, 2020
    $ —        $ —        $ —    
Initial measurement on May 5, 2020 (IPO)
      3,671,438        11,850,000        15,521,438  
Change in valuation inputs or other assumptions
      9,429,375        17,025,000        26,454,375  
  
 
 
     
 
 
     
 
 
  
Fair value as of December 31, 2020
    $ 13,100,813      $ 28,875,000      $ 41,975,813