Quarterly report pursuant to Section 13 or 15(d)

Earnout (Tables)

v3.21.2
Earnout (Tables)
9 Months Ended
Sep. 30, 2021
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, 2021:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Derivative liability

 

 

7,118,479

 

 

 

5,932,054

 

Stock compensation

 

 

881,521

 

 

 

734,613

 

Total Earnout Shares

 

 

8,000,000

 

 

 

6,666,667

 

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

 

 

 

September 30,

 

 

July 14,

 

 

 

2021

 

 

2021

 

Current stock price

 

$

6.56

 

 

$

8.97

 

Expected volatility

 

 

70.00

%

 

 

70.00

%

Risk-free interest rate

 

 

0.93

%

 

 

0.85

%

Dividend rate

 

 

0.00

%

 

 

0.00

%

Expected term (years)

 

4.79

 

 

 

5.00