Joby Aviation, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Summary of assets that are measured at fair value on a recurring basis

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.

June 30, 2021


	Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Other Unobservable Inputs
Description	(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Treasury Securities	$	690,039,494	$	—	$	—
Liabilities:
Derivative warrant liabilities—public warrants	$	33,749,790	$	—	$	—
Derivative warrant liabilities—private warrants	$	—	$	—	$	22,565,080

December 31, 2020


Description	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Treasury Securities	$	690,167,879	$	—	$	—
Liabilities:
Derivative warrant liabilities—public warrants	$	56,112,680	$	—	$	—
Derivative warrant liabilities—private warrants	$	—	$	—	$	43,825,360

Summary of Fair Value Measurement Inputs and Valuation Techniques

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:


	As of June 30, 2021			As of December 31, 2020
Stock price	$	9.98		$	11.56
Volatility		27.3	%		40.4	%
Expected life of the options to convert		5.10			5.46
Risk-free rate		0.88	%		0.43	%
Dividend yield		—			—

Summary of fair value of the derivative warrant liabilities

The change in the fair value of the Level 3 derivative warrant liabilities for six months ended June 30, 2021 is summarized as follows:


Derivative warrant liabilities as of December 31, 2020	$	48,825,360
Change in fair value of derivative warrant liabilities		(21,260,280	)

Derivative warrant liabilities as of June 30, 2021	$	22,565,080

- 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