Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Basic And Diluted Income Per Share

The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income per share for each class of ordinary shares:


	For the Three Months Ended March 31, 2022				For the Three Months Ended March 31, 2021
	Class A		Class B		Class A		Class B
Basic and diluted net income per share:
Numerator:
Allocation of net income	$	4,238,550	$	1,059,637	$	4,172,546	$	3,129,409

Denominator:
Weighted-average shares outstanding		28,750,000		7,187,500		9,583,333		7,187,500
Basic and diluted net income per share	$	0.15	$	0.15	$	0.44	$	0.44

Summary of Liabilities That Are Measured At Fair Value On a Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at March 31, 2022, and December 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


	March 31, 2022		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Liabilities:
Warrant Liability-Public Warrants	$	9,010,250	$	9,010,250	$	—	$	—
Warrant Liability-Private Warrants		6,741,443		—		—		6,741,443

	$	15,751,693	$	9,010,250	$	—	$	6,741,443


	December 31, 2021		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Liabilities:
Warrant Liability-Public Warrants	$	12,362,500	$	12,362,500	$	—	$	—
Warrant Liability-Private Warrants		9,838,510		—		—		9,838,510

	$	22,201,010	$	12,362,500	$	—	$	9,838,510

Schedule Of Changes In The Fair Value Of Level 3 Warrant Liabilities

The following tables present the changes in the fair value of Level 3 warrant liabilities:


	Private Placement Warrants			Public Warrants		Total Warrant Liabilities
Fair value as of December 31, 2021	$	9,838,510		$	—	$	9,838,510
Change in fair value of warrant liabilities		(3,097,067	)		—		(3,097,067	)

Fair value as of March 31, 2022	$	6,741,443		$	—	$	6,741,443


	Private Placement Warrants			Public Warrants			Total Warrant Liabilities
Fair value as of December 22, 2020 (inception)	$	—		$	—		$	—
Initial measurement on March 1, 2021		8,992,401			15,052,227			24,044,628
Change in fair value of warrant liabilities		(3,579,554	)		(5,909,360	)		(9,488,914	)

Transfer from level 3 to level 1					(9,142,867	)		(9,142,867	)

Fair value as of March 31, 2021	$	5,412,847		$	—		$	5,412,847

EJF Acquisition Corp. 10-Q