Annual report [Section 13 and 15(d), not S-K Item 405]

Common Stock and Warrants (Tables)

v3.25.1
Common Stock and Warrants (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights
As of December 31, 2024, 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, 2024 December 31, 2023
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  —  1,460,146  — 
Backstop Warrants 775,005  —  775,005  — 
Volition Penny Warrants —  —  20,905  — 
Shares issuable upon conversion of convertible preferred stock 12,500,097  —  4,739,336  — 
Other outstanding common stock warrants 362,000  111,895  2,484,778  113,776 
Outstanding stock options 930,956  776,494  1,084,456  809,847 
Outstanding restricted stock units 4,656,655  1,000  4,703,850  9,005 
Shares available for issuance under 2022 Equity Incentive Plan 5,182,186  —  4,642,495  — 
Shares available for issuance under 2022 Employee Stock Purchase Plan 846,157  —  746,212  — 
Total shares of common stock reserved 28,053,202  889,389  21,997,183  932,628