Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of company's warrant liabilities measured at fair value on recurring basis


		September 30,		December 31,
Liabilities:	Level	2022		2021
Warrant Liability – Public Warrants	1	$	828,000	$	5,796,000
Warrant Liability – Private Placement Warrants	3	$	21,600	$	152,676

Schedule of key inputs for fair value




Input	September 30, 2022			December 31, 2021
Risk-free interest rate		4.02	%		1.11	%
Expected term to initial business combination (years)		0.27 years			0.47 years
Dividend yield		0	%		0	%
Expected volatility		10.18	%		17.0	%
Exercise price	$	11.50		$	11.50
Fair value of Units	$	0.12		$	0.8482

Summary of reconciliation of changes in fair value of the beginning and ending balances for warrants classified as Level 3


	Private Placement
	Warrants		Public Warrants		Warrant Liability
Initial measurement of fair value on December 31, 2021	$	152,676	$	5,796,000	$	5,948,676
Change in valuation inputs or other assumptions		(113,022)		(4,278,000)		(4,391,022)
Fair value as of June 30, 2022		39,654		1,518,000		1,557,654
Change in valuation inputs or other assumptions		(18,054)		(690,000)		(708,054)
Fair value as of September 30, 2022	$	21,600	$	828,000	$	849,600

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

VectoIQ Acquisition Corp. II 10-Q