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

Fair Value Measurements (Tables)

v3.22.4
Fair Value Measurements (Tables)
6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2021
Fair Value Measurements (Tables) [Line Items]      
Schedule of fair value hierarchy of valuation inputs  
 

Fair Value as of September 30, 2022

   

Carrying Value

 

Level 1

 

Level 2

 

Level 3

Financial liabilities:

 

 

   

 

   

 

   

 

 

Warrant liability – Public Warrants

 

$

2,242,500

 

$

2,242,500

 

$

 

$

Warrant liability – Private Warrants

 

 

1,906,056

 

 

 

 

 

 

1,906,056

Total

 

$

4,148,556

 

$

2,242,500

 

$

 

$

1,906,056

 
Schedule of changes in fair value  
 

Warrant
Liability

   

Balance, January 1, 2022

 

$

 

Assumption of Public and Private Warrants in Business Combination

 

 

5,278,145

 

Change in fair value of warrant liabilities

 

 

(1,129,589

)

Balance, September 30, 2022

 

$

4,148,556

 

 
CleanTech Acquisition Corp [Member]      
Fair Value Measurements (Tables) [Line Items]      
Schedule of fair value hierarchy of valuation inputs

Description

 

Amount at
Fair Value

 

Level 1

 

Level 2

 

Level 3

June 30, 2022

 

 

   

 

   

 

   

 

 

Assets

 

 

   

 

   

 

   

 

 

Investments held in Trust Account:

 

 

   

 

   

 

   

 

 

Money Market investments

 

$

174,483,243

 

$

174,483,243

 

$

 

$

Liabilities

 

 

   

 

   

 

   

 

 

Warrant liabilities – Public Warrants

 

$

2,760,000

 

$

2,760,000

 

$

 

$

Warrant liabilities – Private Placement
Warrants

 

$

2,296,000

 

$

 

$

 

$

2,296,000

December 31, 2021

 

 

   

 

   

 

   

 

 

Assets

 

 

   

 

   

 

   

 

 

Investments held in Trust Account:

 

 

   

 

   

 

   

 

 

Money Market investments

 

$

174,230,428

 

$

174,230,428

 

$

 

$

Liabilities

 

 

   

 

   

 

   

 

 

Warrant liabilities – Public Warrants

 

$

5,175,000

 

$

5,175,000

 

$

 

$

Warrant liabilities – Private Placement
Warrants

 

$

2,798,250

 

$

 

$

 

$

2,798,250

 

Description

 

Amount at
Fair Value

 

Level 1

 

Level 2

 

Level 3

December 31, 2021

 

 

   

 

   

 

   

 

 

Assets

 

 

   

 

   

 

   

 

 

Investments held in Trust Account:

 

 

   

 

   

 

   

 

 

Money Market investments

 

$

174,230,428

 

$

174,230,428

 

$

 

$

Liabilities

 

 

   

 

   

 

   

 

 

Warrant liabilities – Public Warrants

 

$

5,175,000

 

$

5,175,000

 

$

 

$

Warrant liabilities – Private Placement Warrants

 

$

2,798,250

 

$

 

$

 

$

2,798,250

Schedule of the black-scholes option model for the private placement warrants
 

As of
June 30,
2022

 

As of
December 31,
2021

Stock price

 

$

10.07

 

 

$

9.96

 

Strike price

 

$

11.50

 

 

$

11.50

 

Probability of completing a Business Combination

 

 

38.0

%

 

 

*

 

Dividend yield

 

 

%

 

 

%

Term (in years)

 

 

4.1

 

 

 

4.6

 

Volatility

 

 

11.2

%

 

 

8.7

%

Risk-free rate

 

 

3.0

%

 

 

1.2

%

Discount for lack of marketability

 

 

%

 

 

%

Fair value of warrants

 

$

0.32

 

 

$

0.39

 

 
 

As of
December 31,
2021

Stock price

 

$

9.96

 

Strike price

 

$

11.50

 

Probability of completing a Business Combination

 

 

100.0

%

Dividend yield

 

 

%

Term (in years)

 

 

4.6

 

Volatility

 

 

8.7

%

Risk-free rate

 

 

1.2

%

Fair value of warrants

 

$

0.39

 

Schedule of financial instruments that are measured at fair value on a recurring basis

Fair value as of December 31, 2020

 

$

 

Initial measurement of Public Warrants and Private Placement Warrants at July 19, 2021

 

 

7,980,000

 

Initial measurement of over-allotment warrants

 

 

1,071,000

 

Transfer of Public Warrants to Level 1 measurement

 

 

(5,175,000

)

Change in fair value

 

 

(1,077,750

)

Fair value as of December 31, 2021

 

 

2,798,250

 

Change in fair value

 

 

(861,000

)

Fair value as of March 31, 2022

 

 

1,937,250

 

Change in fair value

 

 

358,750

 

Fair value as of June 30, 2022

 

$

2,296,000

 

 

Fair value as of December 31, 2020

 

$

 

Initial measurement of Public Warrants and Private Placement Warrants at July 19, 2021

 

 

7,980,000

 

Initial measurement of over-allotment warrants

 

 

1,071,000

 

Transfer of Public Warrants to Level 1 measurement

 

 

(5,175,000

)

Change in fair value

 

 

(1,077,750

)

Fair value as of December 31, 2021

 

$

2,798,250