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Subsequent Events
3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

18. Subsequent Events

 

Debt

 

On April 19, 2022, the Company drew the conditional $1.0 million of the loan with TQLA and issued an additional 0.8 million warrants.

 

On April 1, 2022, the Company reduced the conversion price of the 6% secured convertible promissory notes to $1.30 per share as a result of issuing a common stock purchase warrant to TQLA covering its loan amount of $2.0 million with a common stock value of $1.20 per share.

 

On February 28, 2022, the Company expected a forbearance agreement with Live Oak while the parties finalize a further extension of the maturity date of the Live Oak facility. All other material terms of the Loan Agreement remain unchanged.

 

Stock Issuances

 

On April 5, 2022, the Company sold 200,000 shares of common stock to its Chief Executive Officer for proceeds of $0.2 million based on the market price of the stock at that date.