Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.21.2
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities, except for those assets and liabilities that are short term in nature and approximate the fair values, as of the periods presented:
Level 1
  
Level 2
  
Level 3
  
Total
As of June 30, 2021
Assets:
Investment – Cansativa —  —  1,528  1,528 
Total Assets —  —  1,528  1,528 
Liabilities:
Loans and borrowings —  6,559  —  6,559 
Warrant liability —  —  22,736  22,736 
Convertible notes —  27,119  —  27,119 
Total Liabilities $ —  $ 33,678  $ 22,736  $ 56,414 
As of December 31, 2020
Assets:
Investment – Cansativa —  —  1,553  1,553 
Total Assets $ —  $ —  $ 1,553  $ 1,553 
Liabilities:
Loans and borrowings $ —  $ 6,701  $ —  $ 6,701 
Warrant liability —  —  19,061  $ 19,061 
Convertible notes —  27,142  —  $ 27,142 
Total Liabilities $ —  $ 33,843  $ 19,061  $ 52,904 
Schedule of Changes in the Fair Value of Warrant Liabilities
The change in fair value of warrant liabilities related to private warrants during the six months ended June 30, 2021 and 2020 is as follows:
Private Placement Warrants Total Warrant Liability
Warrant liability at December 31, 2020 $ 19,061 
Change in fair value of warrant liability
 $ 4,851 
Warrant liabilities at March 31, 2021
 $ 23,912 
Change in fair value of warrant liabilities
 $ (1,176)
Warrant liabilities at June 30, 2021
 $ 22,736 
Fair Value Measurement Inputs and Valuation Techniques The Company determined the fair value of its private warrants using the Monte Carlo simulation model. The following assumptions were used to determine the fair value of the Private Warrants at December 31,2020 and June 30,2021:
As of
June 30,
2021		 December 31,
2020
Risk-free interest rate
0.76%
0.43%
Expected volatility
60%
60%
Share Price
$10.15
$8.90
Exercise Price
$11.50
$11.50
Expiration date December 18, 2025 December 18, 2025
The following table presents the weighted-average assumptions used in the Monte Carlo simulation model to determine the fair value of the market-based restricted share units granted in the six months ended June 30, 2021:

Six Months Ended
June 30, 2021
Grant date share price $ 14.40 
Risk-free interest rate 0.5  %
Expected dividend yield 0.0  %
Expected volatility 90  %
Expected life (in years)
1.8 - 3.8