XML 76 R56.htm IDEA: XBRL DOCUMENT v3.22.4
Notes Payable (Details) - Schedule of notes payable - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2022
Dec. 31, 2021
Dec. 31, 2020
June 2021 Notes [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   October 31, 2026    
Contractual Interest Rates 0.00% 0.00%    
Unpaid Principal Balance $ 4,012 $ 4,012    
Fair Value Measurement Adjustments 612 612    
Original issue discount and proceeds allocated to warrants   (955)    
Net Carrying Value 3,669 3,669    
Interest Expense for the Three and Nine Months Ended September 30, 2022    
Optional Notes [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   October 31, 2026    
Contractual Interest Rates 15.00% 15.00%    
Unpaid Principal Balance $ 2,687 $ 2,687    
Fair Value Measurement Adjustments 737 737    
Original issue discount and proceeds allocated to warrants   (912)    
Net Carrying Value 2,512 2,512    
Interest Expense for the Three and Nine Months Ended September 30, 2022 $ 28 $ 2,572    
Bridge Notes [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   August 14, 2026    
Contractual Interest Rates 10.00% 10.00%    
Unpaid Principal Balance $ 44,500 $ 44,500    
Fair Value Measurement Adjustments 7,690 7,690    
Original issue discount and proceeds allocated to warrants   (11,421)    
Net Carrying Value 40,769 40,769    
Interest Expense for the Three and Nine Months Ended September 30, 2022 $ 418 $ 418    
Notes payable – China various other One [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   Due on Demand   Various Dates 2021 [1]
Contractual Interest Rates 0.00% 0.00%   6.00% [1]
Unpaid Principal Balance $ 4,902 $ 4,902   $ 4,869 [1]
Fair Value Measurement Adjustments [1]      
Net Carrying Value 4,902 $ 4,902   $ 4,807 [1]
Auto loans [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date Auto loans   October 26, 2026 Various  
Contractual Interest Rates Auto loans   7% Various  
Unpaid Principal Balance Auto loans 106 $ 106    
Fair Value Measurement Adjustments Auto loans  
Original issue discount and proceeds allocated to warrants Auto loans    
Net Carrying Value Auto loans 106 106 $ 121  
Interest Expense for the Three and Nine Months Ended September 30, 2022Auto loans    
interest Expenses [Member]        
Debt Instrument [Line Items]        
Unpaid Principal Balance 56,207 56,207    
Fair Value Measurement Adjustments 9,039 9,039    
Original issue discount and proceeds allocated to warrants   (13,288)    
Net Carrying Value 51,958 51,958    
Interest Expense for the Three and Nine Months Ended September 30, 2022 $ 446 $ 2,990    
March 1, 2021 Notes [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   March 1, 2022 March 1, 2022 [2]  
Contractual Interest Rates 14.00% 14.00% 14.00% [2]  
Unpaid Principal Balance [2]     $ 55,000  
Fair Value Measurement Adjustments $ (1,695) $ (1,695) 7,692 [2]  
Net Carrying Value $ 56,695 56,695 $ 56,695 [2]  
Cash Payment   $ (55,000)    
August 26, 2021 Notes [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   March 1, 2022 March 1, 2022 [2]  
Contractual Interest Rates 14.00% 14.00% 14.00% [2]  
Unpaid Principal Balance [2]     $ 30,000  
Fair Value Measurement Adjustments $ (924) $ (924) 1,011 [2]  
Net Carrying Value 30,924 30,924 $ 30,924 [2]  
Payment Premium $ 2,065 2,065    
Cash Payment   $ (32,065)    
June 2021 Notes One [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   October 31, 2026    
Contractual Interest Rates 0.00% 0.00%    
Fair Value Measurement Adjustments $ 917 $ 917    
Net Carrying Value $ 35,071 35,071    
Conversion into Class A Common Stock   $ (35,988)    
Optional Notes Two [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   October 31, 2026    
Contractual Interest Rates 15.00% 15.00%    
Fair Value Measurement Adjustments $ (704) $ (704)    
Net Carrying Value $ 31,934 31,934    
Conversion into Class A Common Stock   $ (31,230)    
PPP Loan [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date   April 17, 2022    
Contractual Interest Rates 1.00% 1.00%    
Fair Value Measurement Adjustments    
Net Carrying Value 193 193    
Payment Premium    
Cash Payment   (193)    
Conversion into Class A Common Stock      
Interest expense One [Member]        
Debt Instrument [Line Items]        
Fair Value Measurement Adjustments (2,406) (2,406)    
Net Carrying Value 154,817 154,817    
Payment Premium $ 2,065 2,065    
Cash Payment   (87,258)    
Conversion into Class A Common Stock   $ (67,218)    
March 1, 2021 Notes One [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date     March 1, 2022  
Contractual Interest Rates     14.00%  
Unpaid Principal Balance     $ 55,000  
Fair Value Measurement Adjustments     7,692  
Original issue discount and proceeds allocated to warrants     (5,997)  
Net Carrying Value     $ 56,695  
August 26, 2021 Notes One [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date     March 1, 2022  
Contractual Interest Rates     14.00%  
Unpaid Principal Balance     $ 30,000  
Fair Value Measurement Adjustments     1,011  
Original issue discount and proceeds allocated to warrants     (87)  
Net Carrying Value     $ 30,924  
June 9, 2021 Note 1 and Note 2 [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date     December 9, 2022  
Unpaid Principal Balance     $ 40,000  
Fair Value Measurement Adjustments     8,503  
Original issue discount and proceeds allocated to warrants     (9,522)  
Net Carrying Value     $ 38,981  
August 10, 2021 Optional Notes [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date     February 10, 2023  
Contractual Interest Rates     15.00%  
Unpaid Principal Balance     $ 33,917  
Fair Value Measurement Adjustments     12,283  
Original issue discount and proceeds allocated to warrants     (11,518)  
Net Carrying Value     $ 34,682  
Notes payable - China various other [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date [1]     Due on demand Due on Demand
Contractual Interest Rates [1]     9.00%
Unpaid Principal Balance [1]     $ 5,458 $ 3,677
Fair Value Measurement Adjustments [1]    
Net Carrying Value [1]     $ 5,458 $ 3,659
PPP Loan Three [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date     April 17, 2022  
Contractual Interest Rates     1.00%  
Unpaid Principal Balance     $ 193  
Fair Value Measurement Adjustments      
Original issue discount and proceeds allocated to warrants      
Net Carrying Value     $ 193  
Auto loans Three [Member]        
Debt Instrument [Line Items]        
Contractual Maturity Date Auto loans     Various  
Contractual Interest Rates Auto loans     Various  
Unpaid Principal Balance Auto loans     $ 121  
Fair Value Measurement Adjustments Auto loans      
Original issue discount and proceeds allocated to warrants Auto loans      
Net Carrying Value Auto loans     121  
Total notes payable [Member]        
Debt Instrument [Line Items]        
Unpaid Principal Balance     164,689  
Fair Value Measurement Adjustments     29,489  
Original issue discount and proceeds allocated to warrants     (27,124)  
Net Carrying Value     $ 167,054  
[1] The Company issued notes with various third parties through its operations in China.
[2] On March 1, 2021, the Company amended the NPA to permit the issuance of additional notes payable with principal amounts up to $85,000. On the same day, the Company entered into notes payable agreements with Ares for an aggregate principal of $55,000, receiving net proceeds of $51,510, inclusive of a 4.00% original issue discount and $90 of debt issuance costs paid directly by the lender. The notes payable are collateralized by a first lien on virtually all tangible and intangible assets of the Company and bear interest at 14% per annum. The notes payable mature on March 1, 2022.