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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The Company’s borrowings consist of the following related and third-party borrowings:
December 31, 2022
December 31, 2021
Borrowing OutstandingCarrying Value*Borrowing OutstandingCarrying Value*
Yorkville Convertible Promissory Note - due June 2023$2,000 $2,688 $— $— 
2021 Convertible Notes Payable – due June 2026109,167 82,950 102,900 84,148 
Senior Secured Term Loan - due March 2026100,000 81,616 — — 
Note Payable - Hi-Power— — 20,000 18,695 
Equipment financing facility - due April 20258,577 8,577 6,389 6,371 
  Total borrowings219,744 175,831 129,289 $109,214 
  Current portion5,560 5,560 6,570 6,570 
     Total borrowings, non-current$214,184 $170,271 $122,719 $102,644 
*Carrying value includes unamortized deferred financing costs, unamortized discounts, and fair value of embedded derivative liabilities.
The carrying value of the Senior Secured Term Loan is as follows:
December 31, 2022
Principal$100,000 
Unamortized debt discount(1,866)
Unamortized debt issuance costs(16,518)
     Aggregate carrying value$81,616 
Date of Draw
Gross Amount of Initial Draw
Coupon Interest RateDebt Issuance Costs
September 2021$7,000 14.3%$175 
September 20224,216 16.2%96 
    Total Equipment Financing loans$11,216 $271 
Schedule of Assumptions used to determine the Fair Value of the Embedded Derivatives at Issuance The assumptions used to determine the fair value of the embedded derivatives at issuance and at year-end were as follows:
December 29, 2022December 31, 2022
EOSE Common Stock Price$1.17 $1.48 
Debt Yield25.00 %25.00 %
Schedule of Balances Recognized Upon Issuance of Convertible Notes
The carrying value of the December 2022 Promissory Note is as follows:
December 31, 2022
Principal$2,000 
Unamortized debt discount(160)
Unamortized debt issuance costs(179)
Embedded derivative liability1,027 
Aggregate carrying value$2,688 
The carrying value for the 2021 Convertible Notes is as follows:
December 31,
20222021
Principal$109,167 $102,900 
Unamortized debt discount(24,733)(28,321)
Unamortized debt issuance costs(2,402)(2,790)
Embedded derivative liability918 12,359 
     Aggregate carrying value$82,950 $84,148 
Schedule of Assumptions Used to Determine Fair Value of Embedded Conversion Feature
The assumptions used to determine the fair value of the embedded conversion feature are as follows:
December 31,
 20222021
Term3.50 years4.50 years
Dividend yield— %— %
Risk-free interest rate4.1 %1.2 %
Volatility80.0 %60.0 %
Effective debt yield25.0 %19.0 %
Summary of Interest Expense Interest expense recognized on the 2021 Convertible Notes is as follows:
For the Years Ended December 31,
20222021
Contractual interest expense$6,267 $2,900 
Amortization of debt discount3,588 1,545 
Amortization of debt issuance costs388 152 
    Total$10,243 $4,597 
The following table summarizes interest expense recognized on the Senior Secured Term Loan:
For the Year-Ended December 31, 2022
Contractual interest expense$4,887 
Amortization of debt discount142 
Amortization of debt issuance costs1,320 
Total $6,349