Fair Value Measurements (Table)

12 Months Ended

Dec. 31, 2021

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of assets and liabilities measured on a recurring basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2021 and 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


Description	Level		December 31, 2021		December 31, 2020
Assets:
Investments held in Trust Account		1	$	600,046,438	$	600,008,617
Liabilities:
Warrant Liabilities — Public Warrants		1	$	17,760,000	$	45,300,000
Warrant Liabilities — Private Placement Warrants		2	$	8,288,000	$	21,140,000
FPA Liability		3	$	1,014,997	$	8,483,278

Summary of quantitative information regarding Level 3 fair value measurements of warrants

The following table presents the quantitative information regarding Level 3 fair value measurements of the FPA liabilities:


	December 31, 2021			December 31, 2020
Risk-free interest rate		0.06	%		0.10	%
Time to expiration, in Years		0.25			0.83
Unit price	$	10.10		$	10.84
Forward Price	$	10.00		$	10.00

Summary of changes in fair value of liabilities

The following table presents the changes in the fair value of FPA liabilities:


	FPA
Fair value as of July 24, 2020 (inception)	$	—
Initial measurement on October 6, 2020		149,170
Change in fair value		8,334,108

Fair value as of December 31, 2020	$	8,483,278
Change in fair value		(7,468,281	)

Fair value as of December 31, 2021	$	1,014,997

Avanti Acquisition Corp. 10-K