Nine Months Ended

September 30, 2021

September 30, 2021

December 31, 2020

Share price of our common stock

$

16.34

$

16.34

-

$

44.26

$

23.51

Expected annual dividend yield (1)

-

-

-

-

Expected volatility (2)

45

%

40

%

-

45

%

40.0

%

Risk-free rate of return (3)

0.81

%

0.76

%

-

0.85

%

0.36

%

Expected warrant term (years) (4)

4.24

4.24

-

4.77

4.99

Fair value determined per warrant

$

7.90

$

7.90

-

$

33.65

$

13.81

(1)

We have not paid and do not currently anticipate paying a cash dividend on our common stock.

(2)

We estimated expected volatilities using stock data for select peer public companies over a timeframe similar to the expected term. We selected peer companies using our judgment and as such, expected volatility is a Level 3 input.

(3)

We estimated risk-free rates using the U.S. Treasury yield curve in effect as of the valuation dates.

(4)

The expected warrant terms are equal to the remaining contractual life of the Private Warrants at each measurement date.