Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Changes in Fair Value of Warrant Liabilities

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

	Private placement warrants			Public warrants			Total warrant liabilities
Fair value at December 31, 2021	$	7,336,000		$	12,052,000		$	19,388,000
Change in fair value		(6,440,000	)		(10,580,000	)		(17,020,000	)
Fair value at September 30, 2022	$	896,000		$	1,472,000		$	2,368,000

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2022 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and includes situations where there is little, if any, market activity for the asset or liability:

							Significant			Significant
							Other			Other
				Quoted Prices in			Observable			Unobservable
	September 30,			Active Markets			Inputs			Inputs
Description	2022			(Level 1)			(Level 2)			(Level 3)
Cash, Cash Equivalents and Other Investments Held in Trust Account	$	460,979,569		$	460,979,569		$	—		$	—

Derivative warrant liabilities:
Public warrants		(1,472,000	)		(1,472,000	)		—			—
Private placement warrants		(896,000	)		—			(896,000	)		—

Gores Technology Partners II, Inc. 10-Q