| 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 |
|
|