| Schedule of Stockholders' Equity Note, Warrants or Rights |
As of December 31, 2022, the following Warrants were outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrant Type |
|
Shares |
|
Exercise Price |
| Public Warrants |
|
8,050,000 |
|
|
$ |
11.50 |
|
| Private Placement Warrants |
|
6,700,000 |
|
|
$ |
11.50 |
|
|
| 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 |
|
|
$1.26 |
| Expected term (in years) |
|
|
4.5 years |
| Volatility |
|
|
62.50% |
| Risk-free interest rate |
|
|
4.00% |
| Dividend yield |
|
|
— |
The fair value of stock option awards granted was estimated at the date of grant using the Black-Scholes option-pricing model, with the following assumptions:
|
|
|
|
|
|
|
Year Ended December 31, 2021 |
| Fair value of common stock |
$5.06 – $7.28 |
| Expected term (in years) |
5.00 – 6.28 |
| Volatility |
62.33% – 75.19% |
| Risk-free interest rate |
0.50% – 1.21% |
| 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, 2022 |
|
December 31, 2021 |
|
Class A Common Stock |
|
Class B Common Stock |
|
Class A Common Stock |
|
Class B Common Stock |
| Convertible preferred stock |
— |
|
|
— |
|
|
— |
|
|
115,287,015 |
|
| Convertible preferred stock warrants |
— |
|
|
— |
|
|
— |
|
|
735,760 |
|
| Private Placement Warrants |
6,700,000 |
|
|
— |
|
|
— |
|
|
— |
|
| Public Warrants |
8,050,000 |
|
|
— |
|
|
— |
|
|
— |
|
| Backstop Warrants |
3,875,028 |
|
|
— |
|
|
— |
|
|
— |
|
| Common Stock Warrants |
4,525,000 |
|
|
568,905 |
|
|
— |
|
|
688,349 |
|
| Outstanding Stock Options |
6,318,978 |
|
|
4,198,917 |
|
|
— |
|
|
27,882,520 |
|
| Outstanding Restricted Stock Units |
19,322,240 |
|
|
263,052 |
|
|
— |
|
|
1,777,183 |
|
| Remaining Shares available for issuance under 2016 Equity Incentive Plan |
— |
|
|
— |
|
|
— |
|
|
1,070,974 |
|
| Remaining Shares available for issuance under 2022 Equity Incentive Plan |
20,794,363 |
|
|
— |
|
|
— |
|
|
— |
|
| Shares available for issuance under 2022 Employee Stock Purchase Plan |
3,274,070 |
|
|
— |
|
|
— |
|
|
— |
|
| Total shares of common stock reserved |
72,859,679 |
|
|
5,030,874 |
|
|
— |
|
|
147,441,801 |
|
|