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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Compensation and Fair Valued On Grant Date
The fair values of service-based stock options granted during each of the periods presented below were estimated using the Black-Scholes Model based on the following assumptions:
Year
Ended
December
31, 2022
Year
Ended
December
31, 2021
Expected Dividend Yield— %— %
Expected Volatility
76.83%—79.65%
60.00% —76.65%
Expected Term (years)
 5.50—6.08
0.50—6.25
Risk Free Interest Rate
2.56%—3.90%
0.09%—1.36%
Exercise Price
$ 1.63—4.95
$ 6.16—16.00
Weighted Average grant date fair value per stock option$1.95$6.44
The assumptions used in the Monte-Carlo simulation for the performance options along with the weighted-average grant date fair value for awards granted in the periods presented are as follows:
Expected volatility
47.07%—80.64%
Dividend Yield0%
Risk-free interest rate
0.81%—1.63%
Expected term, in years
4.87—10.00
Weighted average grant date fair value per share$4.72
The fair values of PSUs granted during the period presented below were estimated using the Black-Scholes Model based on the following assumptions:
Expected volatility76.55%
Dividend Yield0%
Risk-free interest rate1.37%
Expected term, in years6.24
Weighted average grant date fair value per share$4.16
Stock Compensation and are fair valued on the grant date using the Black-Scholes Model based on the following weighted average assumptions:
Current Price of the Underlying Share$109.00 
Exercise Price$109.00 
Expected Term10 years
Risk Free Interest Rate1.70 %
Dividend Yield%
Expected Volatility62.50 %
Summary of Stock Option Activity
A summary of share option activity is as follows:
Number of
Options
Weighted
Average
Exercise
Price
Average
Remaining
Contractual
Terms in
Years
Aggregate
Intrinsic
Value
Outstanding at December 31, 202111,377,777 $8.25 9.19$8,900 
Granted673,574 $2.83 
Exercised(1,000,000)$1.71 
Expired or forfeited(392,174)$9.39 
Outstanding at December 31, 202210,659,177 $8.48 8.38$
Vested or expected to vest at December 31, 202210,659,177 $8.48 8.38$
Exercisable at December 31, 20224,073,624 $7.34 8.04$— 
Share-based Payment Arrangement, Performance Shares, Activity
A summary of the activity associated with these awards is as follows:
Number of
Options
Weighted
Average
Exercise
Price
Average
Remaining
Term of
Options in Years
Aggregate
Intrinsic
 Value
Outstanding at December 31, 20211,938,615 $6.90 9.37
Granted— — 
Vested— — 
Exercised— —   
Expired or forfeited— —   
Outstanding at December 31, 2022
1,938,615 $6.90 8.37— 
Non-vested options as of December 31, 2022
1,938,615 $6.90 8.37— 
A summary of the activity associated with these PSUs is as follows:
Number of
PSUs
Weighted
Average
Exercise
Price
Average
Remaining
Term of
PSUs in Years
Aggregate
Intrinsic
 Value
Outstanding at December 31, 2021733,926 $6.16 10.00
Granted— — 
Vested— — 
Exercised— — 
Expired or forfeited(19,078)$6.16 
Outstanding at December 31, 2022
714,848 $6.16 9.00— 
Non-vested PSUs as of December 31, 2022
714,848 $6.16 9.00— 
Nonvested Restricted Stock Shares Activity
The following table summarized the non-vested RSU activity in 2022:
Numbers
of nonvested
RSUs
Weighted
average
grant
date
fair value $
Non-vested as of December 31, 2021479,673 6.16 
Granted68,708 2.03 
Vested(117,947)6.16 
Forfeited(7,765)6.16 
Non-vested as of December 31, 2022422,669 5.49 
The following table summarized the non-vested performance-based RSU activity in 2022:
Numbers
of nonvested
restricted
shares
Weighted
average
grant
date
fair value $
Non-vested as of December 31, 2021146,786 6.16 
Granted217,985 2.17 
Vested— — 
Forfeited(3,816)6.16 
Non-vested as of December 31, 2022360,955 3.75