Quarterly report pursuant to Section 13 or 15(d)

Earnout (Tables)

v3.24.3
Earnout (Tables)
9 Months Ended
Sep. 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 September 30, 2024:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Derivative liability

 

 

732,993

 

 

 

610,827

 

Stock compensation

 

 

67,007

 

 

 

55,839

 

Total Earnout Shares

 

 

800,000

 

 

 

666,666

 

Assumptions used in Valuation

 

 

December 31,

 

 

September 30,

 

 

 

2023

 

 

2023

 

Current stock price

 

$

8.20

 

 

$

14.50

 

Expected volatility

 

 

85.00

%

 

 

80.00

%

Risk-free interest rate

 

 

4.07

%

 

 

4.79

%

Dividend rate

 

 

%

 

 

%

Expected term (years)

 

 

2.54

 

 

 

2.79