Tailwind Two Acquisition Corp. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

WARRANTS AND DERIVATIVES (Tables)

WARRANTS AND DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of Warrants and Derivatives [Abstract]

Summary of Fair values of Liability Classified Warrants and Derivatives Recorded in Warrant Liabilities

The fair values of liability-classified warrants and derivatives recorded in warrant liabilities on the consolidated balance sheets as of December 31, 2021 were as follows:

(in thousands, except share amounts)

Number of
Issuable Shares

Issuance

Maturity

Fair Value

Inducement Warrants

17,230

March 2021

March 2041

5,631

Warrant liabilities

5,631

Summary of Fair values of Liability Classified Warrants and Derivatives Recorded in Accrued Expenses and Other Current Liabilities

The fair values of liability-classified warrants and derivatives recorded in accrued expenses and other current liabilities on the consolidated balance sheets as of December 31, 2021 were as follows:


(in thousands)	Fair Value
FP Pre-Combination Warrants	$	2,546
Pre-Combination Warrants		849
FP Combination Warrants		27,682
Combination Warrants		7,602
FP Combination Equity		24,110
Combination Equity		5,729

Current warrant and derivative liabilities	$	68,518

Summary Of Fair Value Liability Classified Warrants and Derivatives Measured on Recurring Basis Unobservable Input Reconciliation

The changes in fair value of liability-classified warrants and derivatives during 2021 were as follows:


(in thousands)	Current Warrant and Derivative Liabilities			Warrant Liabilities		Total
Beginning balance	$	—		$	—	$	—
Initial recognition from discount on debt		14,240			2,519		16,759
Initial recognition from deferred debt commitment costs		42,247			—		42,247
Initial recognition from loss on extinguishment of debt		15,002			1,857		16,859
Change in fair value of warrant and derivative liabilities		(2,971	)		1,255		(1,716	)

Ending balance	$	68,518		$	5,631	$	74,149