Quarterly report pursuant to Section 13 or 15(d)

Redeemable Convertible Preferred Stock (Tables)

v3.23.3
Redeemable Convertible Preferred Stock (Tables)
 9 Months Ended
Sep. 30, 2023
Temporary Equity Disclosure [Abstract]  
Fair Value Measurement Inputs and Valuation Techniques
The value of the Public Warrants and Private Placement Warrants was determined by using a Black-Scholes Model with the following assumptions:

September 30,
2023		 December 31,
2022
Fair value of common stock $0.53 —
Exercise Price $11.50 —
Risk-free interest rate 4.70% —
Expected term (in years) 3.79 —
Volatility 69.60% —
Dividend yield — —
The
aggregate fair value of the Volition Warrants was $0.7 million and determined using a Black-Scholes Model with the following inputs:
Fair value of common stock $ 2.16 
Exercise Price
 $0.01 — $6.33
Expected term in years
 3.0
Risk free rate
 4.56  %
Volatility
 67.24  %
Dividend yield —  %
Schedule of Gross Proceeds and Transaction Costs between Preferred Stock and Warrants
Gross proceeds and transaction costs were allocated between the Preferred Stock and Volition Warrants as follows:
Gross Proceeds
Transaction Costs
Net Proceeds
Preferred Stock
 $ 9,336  $ (312) $ 9,024 
Volition Warrants
 664 (21) 643
Total
 $ 10,000  $ (333) $ 9,667