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Capital Structure
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Capital Structure Capital Structure
Common Stock Reserved for Future Issuance
Shares of common stock reserved for future issuance as of June 30, 2022 were as follows:
(In thousands)Number of Shares
Restricted stock units outstanding3,672 
Stock options outstanding1,418 
Shares issuable upon conversion of 2026 Notes15,023 
Shares issuable upon conversion of Public Warrants17,250 
Shares issuable upon conversion of Private Warrants568 
Shares issuable upon conversion of PIPE Warrants300 
Shares available for future grant under 2021 EIP15,759 
53,990 
Forward Share Purchase Agreement
On June 3, 2021, we entered into a third-party put option arrangement with Kepos Alpha Fund L.P. (“KAF”), a Cayman Islands
limited partnership, whereby we assumed the obligation to repurchase our common stock at a future date by transferring cash to KAF under certain conditions. Due to its mandatorily redeemable for cash feature, we recorded such obligation as a forward share purchase liability, and the $18.1 million of cash held in escrow as restricted cash, in our condensed consolidated balance sheets at December 31, 2021. In April 2022, in accordance with the Purchase Agreement, KAF transferred the 1,700,000 shares of our common stock to us and we transferred to KAF the $18.5 million in cash previously held in escrow. The 1,700,000 shares of common stock are recorded as treasury stock in our condensed consolidated balance sheets.

2021 Equity Incentive Plan

The following table summarizes our RSU activity under the 2021 EIP:


Number of Shares
Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2021
10,693 5.63
RSUs granted
598 2.13
RSUs exercised and released
(338)2.13
RSUs forfeited
(207)1.93
Outstanding at March 31, 2022
10,746 5.61
RSUs granted
135 1.00
RSUs vested and issued
(5,563)8.80
RSUs forfeited
(1,645)1.93
Outstanding at June 30, 2022
3,672 2.27

In July and August 2022, we granted a total of 8,523,783 RSUs to new and existing employees.