Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Outstanding Warrants

The following table summarizes the Company’s outstanding warrant liabilities (dollars in thousands):

							Transfers to an Unrelated Third Party(2)
	Balance at December 31, 2021			Fair Value Adjustments(1)						Expiration			Balance at December 31, 2022
	Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount
5-Year Private Warrants	9,478,830	$	664	—	$	164	(352,315)	$	(42)	—	$	—	9,126,515	$	786
Seller Warrants	12,721,901	5		—	(5)		—	—		(12,721,901)	—		—	—
Total	22,200,731	$	669	—	$	159	(352,315)	$	(42)	(12,721,901)	$	—	9,126,515	$	786

	Balance at December 31, 2020			Fair Value Adjustments(1)			Transfers to an Unrelated Third Party (2)			Balance at December 31, 2021
	Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount
5-Year Private Warrants	9,888,415	$	15,326	—	$	(14,368)	(409,585)	$	(294)	9,478,830	$	664
Seller Warrants	12,721,901	63		—	(58)		—	—		12,721,901	5
Total	22,610,316	$	15,389	—	$	(14,426)	(409,585)	$	(294)	22,200,731	$	669

(1)Liability classified warrants are subject to fair value remeasurement at each balance sheet date in accordance with ASC 815-40, Contracts on Entity’s Own Equity. As a result, fair value adjustments related exclusively to the Company’s liability classified warrants. See Note 20 – Fair Value Measurements for further detail on the fair value of the Company’s liability classified warrants.

(2)See Note 14 – Stockholders Equity.

The following table summarizes additional information on the Company’s outstanding warrants as of December 31, 2022:

	Exercise Price		Exercise Period	Expiration Date	Warrants Outstanding
5-Year Private Warrants	$	11.50	5 years	May 29, 2025	9,126,515

The following table summarizes the Company’s outstanding equity classified warrants included in Additional paid-in capital on the Consolidated Balance Sheets (dollars in thousands):

	Balance at December 31, 2021			Warrant Issuances			Transfers to an Unrelated Third Party(1)			Balance at December 31, 2022
	Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount
5-Year Public Warrants	24,811,068	$	28,912	—	$	—	352,315	$	42	25,163,383	$	28,954
Public Offering Warrants	9,583,334	12,938		—	—		—	—		9,583,334	12,938
Private Placement Offering Warrants	—	—		46,816,480	25,604		—	—		46,816,480	25,604
Total	34,394,402	$	41,850	46,816,480	$	25,604	352,315	$	42	81,563,197	$	67,496

	Balance at December 31, 2020			Transfers to an Unrelated Third Party(1)			Balance at December 31, 2021
	Warrants	Amount		Warrants	Amount		Warrants	Amount
5-Year Public Warrants	24,401,483	$	28,619	409,585	$	294	24,811,068	$	28,912
Public Offering Warrants	9,583,334	12,938		—	—		9,583,334	12,938
Total	33,984,817	$	41,557	409,585	$	294	34,394,402	$	41,850

(1)See Note 12 – Warrant Liabilities.

The following table summarizes additional information on the Company’s outstanding equity-classified warrants as of December 31, 2022:

	Exercise price		Exercise period	Expiration date	Warrants outstanding
5-Year Public Warrants	$	11.50	5 years	May 29, 2025	25,163,383
Public Offering Warrants	$	10.50	5 years	October 6, 2025	9,583,334
Private Placement Offering Warrants	$	1.068	5 years	March 15, 2027	46,816,480

Schedule of Fair Value of the Warrants Upon the Issuance

The Company used the Black-Scholes option pricing model to determine the fair value of the Warrants upon the issuance date using the following assumptions:

	As of March 15, 2022
Expected term (years)	5
Risk-free interest rate	2.1	%
Expected volatility	118.4	%
Expected dividend yield	—