Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Equity

16. Equity

On November 12, 2020, the Group completed the acquisition of Phoenix. The consideration paid for the acquisition also included ordinary shares committed to be issued for employee incentive plan, which are non-forfeitable shares and would be issued to employees in six months after acquisition date. In July 2021, the Company issued 71,327 shares to Phoenix employees, after adjustment for the deduction of withholding tax. In March 2022, the Company issued the rest 42,442 shares to Phoenix employees, after adjustment for the deduction of withholding tax.

On February 8, 2021, the Group issued 1,365,375 ordinary shares in a registered direct offering to certain institutional investors for net proceeds of $13,591, after deducting direct offering cost, at a price of $10.79 per ordinary share.

On March 6, 2021, the Company issued 5,000 shares to Redchip Companies Inc. as payment of the service performed by Redchip Companies Inc. The market price on the issuance date was $6.81 per share.

On December 22, 2022, the Group issued 1,150,000 ordinary shares in a private placement for net proceeds of $1,161, after deducting offering cost, at a price of $1.01 per ordinary share.

In 2018 when the Group disposed business in China, the Group granted Lighting Charm Limited options to purchase up to 1,000,000 of the Group’s ordinary shares with par value of $0.0001, with an exercise price of $3.82 per share. The options vested immediately and can be exercised at any time on or prior to August 21, 2021. In 2021, Lighting Charm Limited exercised 285,500 shares options.

During the year ended December 31, 2022, $8,659 of the 2021 Note were settled by 3,216,846 ordinary shares, and $535 of the 2021 Note were redeemed into 301,724 ordinary shares. During the year ended December 31, 2021, $1,925 of the 2020 Note were settled by 444,917 ordinary shares, and $2,450 of the 2021 Note were redeemed into 630,252 ordinary shares (Note 14).

During the years ended December 31, 2022 and 2021, the Group issued 229,888 and 184,000 restricted ordinary shares to core management members and other management, respectively (Note 18), and issued nil and 310,500 ordinary shares due to exercise of employee share options, respectively.