Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

v3.22.2.2
Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]  
Schedule of Fair Value Measurement of Assets and Liabilities Based on Hierarchy

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of June 30, 2022.

 

 

 

Fair Value Measurements as of June 30, 2022

 

Description

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Tax Receivable Agreement

 

$

-

 

 

$

-

 

 

$

4,400

 

 

$

4,400

 

Fathom OpCo acquisitions contingent consideration

 

 

-

 

 

 

-

 

 

 

700

 

 

 

700

 

Sponsor Earnout Shares Liability

 

 

-

 

 

 

-

 

 

 

4,090

 

 

 

4,090

 

Fathom Earnout Shares Liability

 

 

-

 

 

 

-

 

 

 

27,690

 

 

 

27,690

 

Warrant liability – Public Warrants

 

 

3,300

 

 

 

-

 

 

 

-

 

 

 

3,300

 

Warrant liability – Private Placement Warrants

 

 

-

 

 

 

-

 

 

 

10,000

 

 

 

10,000

 

 

 

$

3,300

 

 

$

-

 

 

$

46,880

 

 

$

50,180

 

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of December 31, 2021.

 

 

 

Fair Value Measurements as of December 31, 2021

 

Description

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Tax Receivable Agreement

 

$

-

 

 

$

-

 

 

$

4,600

 

 

$

4,600

 

Fathom OpCo acquisitions contingent consideration

 

 

-

 

 

 

-

 

 

 

3,598

 

 

 

3,598

 

Sponsor Earnout Shares Liability

 

 

-

 

 

 

-

 

 

 

9,380

 

 

 

9,380

 

Fathom Earnout Shares Liability

 

 

-

 

 

 

-

 

 

 

64,300

 

 

 

64,300

 

Warrant liability – Public Warrants

 

 

7,600

 

 

 

-

 

 

 

-

 

 

 

7,600

 

Warrant liability – Private Placement Warrants

 

 

-

 

 

 

-

 

 

 

26,300

 

 

 

26,300

 

 

 

$

7,600

 

 

$

-

 

 

$

108,178

 

 

$

115,778

 

Reconciliation of Beginning and Ending Balances of Recurring Level 3 Fair Value Measurements

The following table presents a reconciliation of the beginning and ending balances of recurring level 3 fair value measurements.

 

 

 

Level 3 Liabilities

 

 

 

Tax Receivable Agreement liability

 

 

Fathom OpCo acquisitions contingent consideration

 

 

Sponsor Earnout shares liability

 

 

Fathom Earnout shares liability

 

 

Warrant liability – Private Placement Warrants

 

 

Total

 

Balance at December 31, 2021

 

$

4,600

 

 

$

3,598

 

 

$

9,380

 

 

$

64,300

 

 

$

26,300

 

 

$

108,178

 

Payments

 

 

-

 

 

 

(2,750

)

 

 

-

 

 

 

-

 

 

 

-

 

 

$

(2,750

)

Net (gain) loss (1)

 

 

(200

)

 

 

(148

)

 

 

(5,290

)

 

 

(36,610

)

 

 

(16,300

)

 

$

(58,548

)

Ending balance at June 30, 2022

 

$

4,400

 

 

$

700

 

 

$

4,090

 

 

$

27,690

 

 

$

10,000

 

 

$

46,880

 

(1) Net gains on changes in recurring level 3 fair value measurements are recognized in Other income and net losses on change in recurring level 3 fair value measurements are recognized in other expense in our unaudited consolidated statement of comprehensive loss.