Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.22.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis

The Company’s assets and liabilities measured at fair value on a recurring basis consisted of the following as of the Whinstone Acquisition Date of May 26, 2021, and December 31, 2021:

Fair value measured at May 26, 2021

Total carrying value at

May 26, 2021

Quoted prices in active

markets

(Level 1)

Significant other

observable inputs

(Level 2)

Significant

unobservable inputs

(Level 3)

Derivative asset

$

13,967

$

-

$

-

$

13,967

Contingent consideration liability

$

82,953

$

-

$

-

$

82,953

Fair value measured at December 31, 2021

Total carrying value at

December 31, 2021

Quoted prices in active

markets

(Level 1)

Significant other

observable inputs

(Level 2)

Significant

unobservable inputs

(Level 3)

Derivative asset

$

26,079

$

-

$

-

$

26,079

Contingent consideration liability

$

83,928

$

-

$

-

$

83,928

Schedule of Changes in Estimated Fair Value of Derivative Asset

The following table presents the changes in the estimated fair value of the derivative asset measured using significant unobservable inputs (Level 3) for the year ended December 31, 2021 (in thousands):

Derivative Asset

Balance as of January 1, 2021

$

-

Acquisition of Whinstone

13,967

Change in fair value

12,112

Balance as of December 31, 2021

$

26,079

Schedule of Changes in Estimated Fair Value of Liability

The following table presents the changes in the estimated fair value of our liability for contingent consideration measured using significant unobservable inputs (Level 3) for the year ended December 31, 2021 (in thousands):

Contingent

Consideration Liability

Balance as of January 1, 2021

$

-

Acquisition of Whinstone

82,953

Change in fair value

975

Balance as of December 31, 2021

$

83,928