Annual report pursuant to Section 13 and 15(d)

Earnout (Tables)

v3.22.1
Earnout (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [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, 2021:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Contingent earnout liability

 

 

7,144,325

 

 

 

5,953,595

 

Stock compensation

 

 

855,675

 

 

 

713,072

 

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,

 

 

July 14,

 

 

 

2021

 

 

2021

 

Current stock price

 

$

5.37

 

 

$

8.56

 

Expected volatility

 

 

70.00

%

 

 

70.00

%

Risk-free interest rate

 

 

1.19

%

 

 

0.85

%

Dividend rate

 

 

%

 

 

%

Expected term (years)

 

4.54

 

 

 

5.00