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Debt (Tables)
3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Debt
Debt, net of debt discount and issuance costs, consisted of the following (in thousands):
December 31,
 2022 2021
PPP loan$— $10,000 
Convertible Notes122,692 100,999 
Total debt122,692 110,999 
Less debt, current122,692 — 
Debt, non-current$— $110,999 
Convertible Notes
Immediately prior to the amendment to the Convertible Notes Facility, the Convertible Notes, net of debt discount and issuance costs, consisted of the following (in thousands):
March 31, 2023December 31, 2022
Principal
$153,500 $153,500 
PIK interest
19,196 17,301 
Total principal
172,696 170,801 
Less debt discount and issuance costs
(44,275)(48,109)
Total Convertible Notes
$128,421 $122,692 
Upon effectiveness of the amendment to the Convertible Notes Facility as of March 31, 2023, the Convertible Notes, inclusive of debt premium, consisted of the following (in thousands):
March 31, 2023
Principal
$153,500 
PIK interest
19,371 
Total principal
172,871 
Plus debt premium
4,864 
Total Convertible Notes
$177,735 
The Convertible Notes, net of debt discount and issuance costs, consisted of the following (in thousands):
December 31,
20222021
Principal$153,500 $153,500 
PIK interest17,301 9,826 
Total principal170,801 163,326 
Less debt discount and issuance costs(48,109)(62,327)
Total Convertible Notes$122,692 $100,999 
Changes of the Derivative Liability A summary of the changes of the derivative liability is as follows (in thousands):
Derivative liability
Fair value as of December 31, 2020$70,870 
Change in fair value111,684 
Reclassification of liability upon the reverse recapitalization(182,554)
Fair value as of December 31, 2021$— 
Contractual Future Principal Repayments of Debt
As of March 31, 2023, the contractual future principal repayments of the total debt were as follows (in thousands):
2023
$— 
2025 (1)
3,941 
2028 (1)
168,930 
Total debt
$172,871 
__________________
(1)Including PIK interest added to principal balance through March 31, 2023.