Altitude Acquisition Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Recurring Fair Value Measurements (Tables)

Recurring Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Assets And Liabilities Measured At Fair Value

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of September 30, 2021 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


	September 30, 2021		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets:
Money Market Funds held in Trust Account	$	300,019,322	$	300,019,322	$	—	$	—

	$	300,019,322	$	300,019,322	$	—	$	—

Liabilities:
Warrant Liability – Public Warrants	$	10,200,000	$	10,200,000	$	—	$	—
Warrant Liability – Private Placement Warrants	$	5,833,950	$	—	$	—	$	5,833,950

	$	16,033,950	$	10,200,000	$	—	$	5,833,950

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2020 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


	December 31, 2020		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)

Assets:
Money Market Funds held in Trust Account	$	300,000,082	$	300,000,082	$	—	$	—

	$	300,000,082	$	300,000,082	$	—	$	—

Liabilities:
Warrant Liability – Public Warrants	$	21,995,964	$	—	$	—	$	21,995,964
Warrant Liability – Private Placement Warrants	$	11,811,499	$	—	$	—	$	11,811,499

	$	33,807,463	$	—	$	—	$	33,807,463

Summary of the Monte Carlo simulation model for the Private Placement Warrants

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants were as follows at September 30, 2021:


Input	September 30, 2021

Expected term (years)		5.48
Expected volatility		12.9	%
Risk-free interest rate		1.06	%
Fair value of the common stock price	$	9.84

The key inputs into the Monte Carlo simulation model for the Public Warrants and Private Placement Warrants were as follows at December 31, 2020:


Input	December 31, 2020

Expected term (years)		5.85
Expected volatility		24.2	%
Risk-free interest rate		0.48	%
Fair value of the common stock price	$	9.63

Summary of the changes in the fair value of the Level 3 warrant liability

The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the nine months ended September 30, 2021:


	Warrant Liability

Fair value as of December 31, 2020	$	33,807,463
Transfer out of Level 3 to Level 1		(10,200,000	)
Revaluation of warrant liability included in other income within the statement of operations for the nine months ended September 30, 2021		(17,773,513	)

Fair value as of September 30, 2021	$	5,833,950

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details