Quarterly report pursuant to Section 13 or 15(d)

Earnout (Tables)

v3.23.3
Earnout (Tables)
9 Months Ended
Sep. 30, 2023
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, 2023:

 

 

 

Triggering Event I Earnout Shares

 

 

Triggering Event II Earnout Shares

 

Derivative liability

 

 

7,309,392

 

 

 

6,091,157

 

Stock compensation

 

 

690,608

 

 

 

575,510

 

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,

 

 

December 31,

 

 

September 30,

 

 

 

2023

 

 

2022

 

 

2022

 

Current stock price

 

$

1.45

 

 

$

1.16

 

 

$

1.98

 

Expected volatility

 

 

80.00

%

 

 

65.00

%

 

 

65.00

%

Risk-free interest rate

 

 

4.79

%

 

 

4.12

%

 

 

4.13

%

Dividend rate

 

 

%

 

 

%

 

 

%

Expected term (years)

 

 

2.79

 

 

 

3.54

 

 

 

3.79