Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v3.22.1
Warrant Liability (Tables)
 12 Months Ended
Dec. 31, 2021
Warrant Liability [Abstract]  
Number of Warrants in Issue The following table displays the number of warrants in issue as of December 31, 2021:
(In thousands) Tradeable Non-tradeable Total
No. of warrants No. of warrants No. of warrants
In issue at January 1, 2021
 — — —
Issuance of Alkuri Warrants on October 21, 2021 8,625 5,933 14,558
Issuance of AlbaCore Warrants on November 4, 2021 — 1,758 1,758
In issue at December 31, 2021
 8,625 7,691 16,316
Schedule of Reconciliation of Fair Values
See reconciliation of fair values below:

Tradeable (Level 1) Non-tradeable (Level 2) Non-tradeable (Level 3) Total
$’000 $’000 $’000 $’000
Balance at December 31, 2019
 — — — —
Balance at December 31, 2020
 — — — —
Fair value of Alkuri Warrants upon issuance 18,371 12,638 — 31,009
Fair value of AlbaCore Warrants upon issuance — — 16,930 16,930
Change in fair value of warrant liabilities
 (12,506) (8,603) (6,702) (27,811)
Balance at December 31, 2021
 5,865 4,035 10,228 20,128