Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.21.2
Warrants (Tables)
6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
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 fair value of these warrants 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%
Schedule of Stockholders' Equity Note, Warrants or Rights
During the six months ended June 30, 2021, Alclear issued the following warrants for Class B redeemable capital units as follows:
Number of Units Weighted-average exercise price
Liability awards 1,000 $ 1.00
Equity awards 114,797 $ 194.85
Prior to the Reorganization, during the six months ended June 30, 2021, 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 were outstanding as of June 30, 2021:
Classification Number of Warrants Weighted-Average Exercise Price Weighted average Remaining Contractual Term (years)
Exercisable for Class A common stock Equity awards 7,674,502 $ 0.01 1.3
Exercisable for Alclear Units Equity awards 968,043 $ 0.01 3.2
The Company recorded the following within general and administrative expense in the condensed consolidated statements of operations:
Three Months Ended Six Months Ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
Liability awards $ 10,903  $ —  $ 12,796  $ — 
Equity awards 1,643  132  1,922  1,564 
Total $ 12,546  $ 132  $ 14,718  $ 1,564