Annual report pursuant to Section 13 and 15(d)

Common Stock and Warrants (Tables)

v3.24.1
Common Stock and Warrants (Tables)
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights
As of December 31, 2023, the following Warrants were outstanding on an as converted basis:

Warrant Type Shares Exercise Price
Public Warrants 1,460,146  $ 57.50 
Private Placement Warrants 1,340,000  $ 57.50 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The fair value of Vested Warrants and Unvested Warrants granted to HGI was estimated at the date of grant using the Black-Scholes option-pricing model, with the following assumptions:
Fair value of common stock $6.30
Expected term in years 4.5
Volatility 62.50%
Risk-free interest rate 4.00%
Dividend yield —
Schedule of Reserved for Issuance
The Company has the following shares of common stock reserved for future issuance, on an as-if converted basis:
December 31, 2023 December 31, 2022
Class A Common Stock Class B Common Stock Class A Common Stock Class B Common Stock
Private Placement Warrants 1,340,000  —  1,340,000  — 
Public Warrants 1,460,146  —  1,610,000  — 
Backstop Warrants 775,005  —  775,005  — 
Volition Penny Warrants 20,905  —  —  — 
Shares issuable upon conversion of redeemable convertible preferred stock 4,739,336  —  —  — 
Other Outstanding common stock warrants 2,484,778  113,776  905,000  113,776 
Outstanding stock options 1,084,456  809,847  1,264,302  839,705 
Outstanding restricted stock units 4,703,850  9,005  3,864,448  32,149 
Shares available for issuance under 2022 Equity Incentive Plan 4,642,495  —  4,158,872  — 
Shares available for issuance under ESPP 746,212  —  654,814  — 
Total shares of common stock reserved 21,997,183  932,628  14,572,441  985,630