Quarterly report pursuant to Section 13 or 15(d)

Earnout (Tables)

v3.24.2.u1
Earnout (Tables)
6 Months Ended
Jun. 30, 2024
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 June 30, 2024:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Derivative liability

 

 

7,326,381

 

 

 

6,105,318

 

Stock compensation

 

 

673,619

 

 

 

561,349

 

Total Earnout Shares

 

 

8,000,000

 

 

 

6,666,667

 

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

 

 

 

June 30,

 

 

December 31,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2023

 

Current stock price

 

$

0.41

 

 

$

0.82

 

 

$

1.21

 

Expected volatility

 

 

95.00

%

 

 

85.00

%

 

 

70.00

%

Risk-free interest rate

 

 

4.65

%

 

 

4.07

%

 

 

4.43

%

Dividend rate

 

 

%

 

 

%

 

 

%

Expected term (years)

 

 

2.04

 

 

 

2.54

 

 

 

3.04