Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.22.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights
Prior to the reorganization, in 2021, Alclear issued the following warrants for Class B redeemable capital units:
Number of Units Weighted-average exercise price
Liability awards 1,000 $ 1.00
Equity awards 114,797 $ 194.85
Prior to the Reorganization, certain warrant holders exercised their warrants for Class B redeemable capital units as follows:
Number of Warrants Weighted-average exercise price
Liability awards 70,000 $ 36.74
Equity awards 3,400 $ 1.00
The following warrants remained outstanding as of December 31, 2021:
Classification Number of Warrants Weighted-Average Exercise Price Weighted average Remaining Contractual Term (years) Aggregate Intrinsic Value
Exercisable for Class A Common Stock Equity awards 5,674,502 $ 0.01 0.88 177,952
Exercisable for Alclear Units Equity awards 968,043 $ 0.01 2.7 30,358
The Company recorded the following within general and administrative expense in the consolidated statements of operations:
For the year ended
December 31, 2021 December 31, 2020 December 31, 2019
Liability awards $ 12,796  $ 887  $ 3,363 
Equity awards 4,813  1,969  13,223 
Total $ 17,609  $ 2,856  $ 16,586 
Fair Value Measurement Inputs and Valuation Techniques of Warrants
The fair values of warrants granted in 2021 were estimated based on the Black-Scholes option pricing model using the weighted-average significant unobservable inputs (Level 3 inputs) as follows:
2021
Risk-free interest rate
0.36% - 0.92%
Exercise price
$1.00-$290.00
Expected term
3-5 years
Expected volatility
45.0% - 50.8%
On the date of exercise, the Company recognized a fair value adjustment to the outstanding liability classified warrants which was estimated based on a Black-Scholes option pricing model using the weighted-average significant unobservable inputs (Level 3 inputs) as follows:

Risk-free interest rate
0.16% -0.19%
Exercise price
$1.00- $36.74
Expected term
2-3 years
Expected volatility
35.1% - 45.0%