($ in thousands)

Derivative Liability

Warrant Liabilities

Balance at December 31, 2021

$

1,513

$

13,784

Issuances

—

12,806

Net change in fair value

3,072

(11,049

)

Balance at March 31, 2022

$

4,585

$

15,541

Balance at December 31, 2020

$

2,278

$

11,264

Issuances

—

—

Net change in fair value

(788

)

(3,107

)

Balance at March 31, 2021

$

1,490

$

8,157