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