Business Combination (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of Reconciles Elements of Business Combination

The following table reconciles the elements of the Business Combination to the Condensed Consolidated Statements of Cash Flows and the Condensed Consolidated Statements of Stockholders’ Deficit:

	BUSINESS COMBINATION (in thousands)
Cash - ENVI trust and cash (net of redemptions)	$	12,123
Cash - PIPE Investors, including proceeds from conversion of Convertible notes - PIPE Investors		124,250
Gross proceeds		136,373
Less: total transaction costs		(26,660	)
Less: cash proceeds from Convertible notes - PIPE Investors		(35,250	)
Add: transaction costs paid in 2021		4,080
Add: transaction costs accrued at March 31, 2022		1,948
Cash proceeds from Business Combination received in 2022		80,491
Less: transaction costs paid in 2021		(4,080	)
Less: warrant liabilities assumed		(1,341	)
Less: transaction costs accrued at March 31, 2022		(1,948	)
Less: net liabilities assumed in the Business Combination		(133	)
Reverse merger, net of transactions costs	$	72,989

Schedule of Number of Shares of Common Stock Outstanding and Immediately Consummation of Business Combination

The number of shares of common stock outstanding immediately following the consummation of the Business Combination was as follows:

	Number of Shares
Common stock, outstanding prior to the Business Combination		20,700,000
Less: Redemption of ENVI shares		(19,489,626	)
ENVI Public Shares		1,210,374
ENVI Sponsor Shares		5,175,000
Shares issued in PIPE financing		12,425,000
Business combination and PIPE financing shares		18,810,374
Legacy GreenLight shares (1)		104,011,760
Total shares of common stock immediately after Business Combination		122,822,134

(1) - The number of Legacy GreenLight shares was determined from the shares of Legacy GreenLight outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio. All fractional shares were rounded down.