Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Company's assets and liabilities measured at fair value on recurring basis


Liabilities:	Level		December 31, 2021
Warrant Liability – Public Warrants	1	$	5,796,000
Warrant Liability – Private Placement Warrants	3	$	152,676

Schedule of key inputs for fair value


	January 11, 2021
	Initial Measurement
				Private
Input	Public			Placement
Risk-free interest rate		0.39	%		0.39	%
Expected term to initial business combination (years)		1.50 years			1.50 years
Dividend yield		—			—
Expected volatility		23.84	%		23.84	%
Exercise price	$	11.50		$	11.50
Fair value of Units	$	1.4537		$	1.5058


	December 31, 2021
	Subsequent Measurement
Input	Private Placement
Risk-free interest rate		1.11	%
Expected term to initial business combination (years)		0.47 years
Dividend yield		0	%
Expected volatility		17.0	%
Exercise price	$	11.50
Fair value of Units	$	0.8482

Schedule of changes in the fair value of warrant liabilities


Warrant liabilities measured with level 3 inputs at January 1, 2021:	$	—
Issuance of public and private warrants at January 11, 2021		10,301,574
Public Warrants reclassified to level 1(1)		(15,180,000)
Change in fair value		5,031,102
Fair Value at December 31, 2021 – private warrants	$	152,676

(1)	Assumes the Public Warrants were reclassified on March 5, 2021

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

VectoIQ Acquisition Corp. II 10-K/A