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SUBSEQUENT EVENT
3 Months Ended
Mar. 31, 2022
SUBSEQUENT EVENTS  
SUBSEQUENT EVENT

NOTE 8 — SUBSEQUENT EVENT

On April 15, 2022, the Company received a $50 million down payment, which represented the third, and final, purchase price down payment from Foxconn pursuant to the APA. The remaining amounts due at closing are (i) the $30 million balance of the $230 million purchase price and (ii) a reimbursement payment for certain operating and expansion costs incurred by us from September 1, 2021 through the closing, estimated to be in excess of $27.0 million. Under the terms of the APA, the reimbursement costs will be an estimate as of closing and will be finalized over a review period after closing.