Quarterly report pursuant to Section 13 or 15(d)

Earnout (Tables)

v3.22.1
Earnout (Tables)
3 Months Ended
Mar. 31, 2022
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 March 31, 2022:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Derivative liability

 

 

7,148,984

 

 

 

5,957,480

 

Stock compensation

 

 

851,016

 

 

 

709,187

 

Total Earnout Shares

 

 

8,000,000

 

 

 

6,666,667

 

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

 

 

 

March 31,

 

 

July 14,

 

 

 

2022

 

 

2021

 

Current stock price

 

$

3.99

 

 

$

8.56

 

Expected volatility

 

 

65.00

%

 

 

70.00

%

Risk-free interest rate

 

 

2.42

%

 

 

0.85

%

Dividend rate

 

 

%

 

 

%

Expected term (years)

 

 

4.30

 

 

 

5.00