XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (104,682) $ (14,714)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 51,561 1,581
Non-cash interest expense 40,046 3,685
Change in fair value of derivative liabilities 2,337 2,317
Non-cash bonus expense 526  
Depreciation and amortization 228 251
Non-cash lease expense 174 0
Paid-in-kind interest and accrued interest on repayment of 2022 Notes (9,341) 0
Other 0 4
Changes in operating assets and liabilities:    
Accounts receivable (339) 329
Inventory (52) 146
Prepaid expenses and other current assets (3,199) 153
Other long-term assets (3) (825)
Accounts payable 327 1,104
Accrued expenses (196) (567)
Other current liabilities (218) (9)
Other long-term liabilities 85 (73)
Net cash used in operating activities (22,746) (6,618)
Cash flows from investing activities    
Purchases of property and equipment (202) 0
Net cash used in investing activities (202) 0
Cash flows from financing activities    
Related party proceeds from PIPE financing 36,950 0
Proceeds from Business Combination and PIPE financing 13,414 0
Payments of offering costs (6,609) 0
Repayment of 2022 Notes (25,813) 0
Proceeds from exercise of stock options 58 74
Proceeds from exercise of common stock warrants 29 0
Proceeds from issuance of convertible notes 0 37,186
Proceeds from issuance of convertible notes to related parties 0 11,475
Net cash provided by financing activities 18,029 48,735
Effect of exchange rate changes on cash, cash equivalents and restricted cash (11) 5
Net increase (decrease) in cash, cash equivalents and restricted cash (4,930) 42,122
Cash, cash equivalents and restricted cash at beginning of period 26,176 7,668
Cash, cash equivalents and restricted cash at end of period 21,246 49,790
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 9,326 0
Supplemental schedule of noncash investing and financing activities:    
Conversion of redeemable convertible preferred stock to common stock 152,978 0
Conversion of 2023 Notes into equity 101,978 0
Issuance of common stock warrants 17,602 21,970
Assumption of net liabilities from Business Combination 15,955 0
Offering costs paid in common stock 9,531 0
GEMS commitment fee 2,500 0
Unpaid offering costs 1,229 0
Fair value of debt derivative liabilities related to issuance of convertible notes 0 17,540
Unpaid debt issuance costs $ 0 $ 46