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Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Liabilities The table below summarizes the fair values of certain liabilities that are included within the Company’s accompanying unaudited condensed consolidated balance sheets, and their designations among the three fair value measurement categories:
June 30, 2023
December 31, 2022
Level 1Level 2Level 3Level 1Level 2Level 3
Liabilities
Warrants liabilities$— $455 $56,905 $— $78 $— 
Embedded derivative liabilities$— $— $42,767 $— $— $1,945 
Schedule of Assumptions used to determine Fair Value of Warrants and Embedded Derivative Liabilities The assumptions used to determine the fair value of the April 2023 and May 2023 warrants are as follows:
April 2023 warrants
June 30,
2023
April 12, 2023
Time to expiration5.29 years5.51 years
Common stock price$4.34 $2.61 
Risk-free interest rate4.1 %3.4 %
Volatility65.0 %70.0 %
May 2023 warrants
June 30,
2023
May 15, 2023
Time to expiration5.04 years5.17 years
Common stock price$4.34 $2.31 
Risk-free interest rate4.1 %3.4 %
Volatility65.0 %70.0 %
Embedded derivatives
The assumptions used to determine the fair value of the embedded derivative liabilities are as follows:
2021 Convertible Notes Payable
June 30, 2023
December 31, 2022
Term3.0 years3.5 years
Dividend yield— %— %
Risk-free interest rate4.4 %4.1 %
Volatility65.0 %80.0 %
Effective debt yield40.0 %25.0 %
AFG Convertible Notes PayableJune 30, 2023January 18, 2023
Term3.0 years3.5 years
Dividend yield— %— %
Risk-free interest rate4.4 %3.6 %
Volatility65.0 %70.0 %
Effective debt yield40.0 %40.0 %
Schedule of Liabilities Measured at Fair Value The following table summarizes the changes in the fair value of liabilities that are included within the Company’s accompanying unaudited condensed consolidated balance sheets and are designated as Level 3:
Level 3Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Embedded derivatives
Balance at beginning of the period$21,255 $4,664 $1,945 $12,359 
Additions15,820 21 42,191 21 
Loss (gain) on change in fair value of derivatives - related party5,692 (3,978)(1,369)(11,673)
Balance at end of the period$42,767 $707 $42,767 $707 
Warrants
Balance at beginning of the period$— $— $— $— 
Additions29,553 — 29,553 — 
Loss on change in fair value of derivatives - related party27,352 — 27,352 — 
Balance at end of the period$56,905 $— $56,905 $— 
Schedule of Estimated Fair Value of Financial Instruments Not Carried at Fair Value
The estimated fair value of financial instruments not carried at fair value in the unaudited condensed consolidated balance sheets was as follows:
Level in Fair Value Hierarchy
June 30, 2023
December 31, 2022
Carrying ValueFair ValueCarrying ValueFair Value
Notes receivable3$863 $707 $863 $677 
2021 Convertible Notes*391,862 52,860 82,950 62,421 
Senior Secured Term Loan 383,503 60,430 81,616 77,576 
AFG Convertible Notes*350,053 50,613 — — 
Equipment financing facility37,196 3,432 8,577 6,282 
Yorkville Convertible Notes*3— — 2,688 2,908 
  Total$233,477 $168,042 $176,694 $149,864 
*Includes the embedded derivative liabilities.