Annual report pursuant to Section 13 and 15(d)

Earnout (Tables)

v3.24.0.1
Earnout (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Number of Earnout Shares Allocated to Unit of Account The following table summarizes the number of Earnout Shares allocated to each unit of account as of December 31, 2023:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Derivative liability

 

 

7,320,502

 

 

 

6,100,415

 

Stock compensation

 

 

679,498

 

 

 

566,252

 

Total Earnout Shares

 

 

8,000,000

 

 

 

6,666,667

 

Assumptions Used In The Valuation The following table describes the assumptions used in the valuation:

 

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Current stock price

 

$

0.82

 

 

$

1.16

 

Expected volatility

 

 

85.00

%

 

 

65.00

%

Risk-free interest rate

 

 

4.07

%

 

 

4.12

%

Dividend rate

 

 

%

 

 

%

Expected term (years)

 

 

2.54

 

 

 

3.54