Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assumptions
The fair value of the Private Warrants was estimated at June 30, 2021 using a Black-Scholes options pricing model and the following assumptions:
Input June 30, 2021
Asset price $ 14.50 
Exercise price $ 11.50 
Risk-free interest rate 0.66  %
Expected volatility 36.0  %
Expected term (years) 3.99
Dividend yield 0.0  %
Schedule of Changes in Fair Value of Warrants The changes in the warrant liabilities during the six months ended June 30, 2021 were as follows (in thousands):
Reclassification of fair value of Private Warrants to warrant liabilities as of January 1, 2021 $ 8,139 
Cumulative impact of change in fair value of Private Warrants in 2020 (1,161)
Transfer of Private Warrants to Public Warrants (2,502)
Change in fair value of warrant liabilities in Q1 2021 3,523 
Fair value of warrant liabilities as of March 31, 2021 $ 7,999 
Change in fair value of warrant liabilities in Q2 2021 241 
Fair value of warrant liabilities as of June 30, 2021 $ 8,240