Post-effective amendment to a registration statement that is not immediately effective upon filing

Fair value measurement (Tables)

v3.22.2.2
Fair value measurement (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Text Block [Abstract]    
Summary of Financial Instruments Measured At Fair Value (Level 3)
The changes in level 3 items for the six months ended June 30, 2022 have been as follows:
 
(in €‘000)
   
Purchase options
  
Carrying amount at January 1, 2022
      30,400  
Movements in the six months ended June 30, 2022
         
Fair value gains on purchase options
      3,856  
Derecognition of substantive purchase option
      (34,256 ) 
Exercise of purchase option
      —    
Carrying amount at June 30, 2022
   
 
—  
 
 
(in €‘000)
   
Warrant liabilities
  
Carrying amount at January 1, 2022
      —    
Movements in the six months ended June 30, 2022
         
Public warrants assumed as part of the
SPAC 
Transaction
      21,259  
Private warrants assumed as part of the
SPAC 
Transaction
      20,993  
Change in fair value of private warrant liabilities
      (7,139 ) 
Transfer of private placement warrant liabilities into level 1
      (13,854 ) 
Change in fair value of public warrant liabilities
      (14,546 ) 
Transfer of public warrant liabilities into level 1
      (6,713 ) 
Carrying amount at June 30, 2022
   
 
—  
 
The changes in level 3 items for the year ended December 31, 2021 have been as follows:
 

(in €‘000)
  
Purchase
options
 
Carrying amount at January 1, 2021
      —    
Movements during the year ended December 31, 2021
         
Option premium paid for purchase options
      1,500  
Fair value gain recognized as a share premium contribution
      26,000  
Fair value gains/(losses) recognized in other income/(expenses)
      2,900  
Carrying amount at December 31, 2021
   
 
30,400
 
Summary of Valuation Inputs To The Fair Value of Purchase Options The following table summarizes the quantitative information about the significant unobservable input parameters used in the level 3 fair value measurement of the purchase options at the time of their derecognition or exercise in 2022, using a Black-Scholes pricing model.
 
    
June 7, 2022
     
March 16, 2022
  
Purchase option
      MOMA       
Mega-E
  
Parameters
                  
Spot price per share (in €)
      253        437,000  
Volatility
      N/A        100.00 % 
The following table summarizes the quantitative information about the significant unobservable input parameters used in the level 3 fair value measurement of the purchase options using a Black-Scholes pricing model.
 
    
2021
  
Parameters – Purchase options to acquire an unlisted software company
 
Spot price per share (in €)
      392  
Volatility
      15 % 
Parameters – Purchase option to acquire
Mega-E
 
Spot price per share (in €)
      397,000  
Volatility
      92 % 
Summary of Unobservable Input Parameters Used in The Valuation Model  
The following table summarized the results of changes to significant unobservable input parameters used in the valuation model on the fair value of the purchase options:
 
(in €‘000)
   
2021
Changes to parameters – Purchase options to acquire an unlisted software company
5% increase/decrease in volatility
    5% increase in volatility would result in an increase in fair value by €400 thousand. 5% decrease in volatility would result in a decrease in fair value by €330 thousand.
20% increase/decrease in the spot price
    20% increase in the spot price would result in an increase in fair value by €12,040 thousand. 20% decrease in the spot price would result in a decrease in fair value by €3,200 thousand.
 
Changes to parameters – Purchase option to acquire
Mega-E
30% increase/decrease in volatility
    30% increase in volatility would result in an increase in fair value by €36 thousand. 30% decrease in volatility would result in a decrease in fair value by €315 thousand.
20% increase/decrease in the spot price
    20% increase in the spot price would result in an increase in fair value by €7,110 thousand. 20% decrease in the spot price would result in a decrease in fair value by €6,993 thousand.