Recurring Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

	Carrying Value/ Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value as of December 31, 2021
U.S. Money Market	$	656	$	—	$	—	$	656
U.S. Treasury Securities		287,589,138		2,234		—		287,591,372
	$	287,589,794	$	2,234	$	—	$	287,592,028

Schedule of company’s the warrant liability

Input	February 2, 2021
Expected term (years)		5.25
Expected volatility		18.40	%
Risk-free interest rate		0.67	%
Stock price	$	9.68
Dividend yield		0.00	%
Exercise price	$	11.50

Input	December 31, 2021
Expected term (years)		5.25
Expected volatility		11.00	%
Risk-free interest rate		1.35	%
Stock price	$	9.79
Dividend yield		0.00	%
Exercise price	$	11.50

Schedule of the changes in the fair value of the level 3 warrant liability

	Warrant Liability
Fair value as of December 31, 2020	$	—
Initial fair value of warrant liability upon issuance at IPO		14,558,333
Transfer out of Level 3 to Level 1		(5,941,667	)
Change in fair value		(5,361,666	)
Fair value as of December 31, 2021	$	3,255,000

Schedule of company’s assets and liabilities that were measured at fair value on a recurring basis

	December 31,		Quoted Prices In Active Markets		Significant Other Observable Inputs		Significant Other Unobservable Inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Money Market held in Trust Account	$	656	$	656	$	—	$	—
U.S. Treasury Securities held in Trust Account		287,589,138		287,589,138		—		—
	$	287,589,794	$	287,589,794	$	—	$	—
Liabilities:
Public Warrant Liability	$	6,037,500	$	6,037,500	$	—	$	—
Private Warrant Liability		3,255,000		—		—	$	3,255,000
	$	9,292,500	$	6,037,500	$	—	$	3,255,000

- Definition

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

+ References + Details

Clarim Acquisition Corp. 10-K