Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Summary of financial instruments at fair value based on the fair value hierarchy or each class of instrument

:

	Fair Value Measurement
December 31, 2022	Level 1		Level 2		Level 3
Assets:
Money market account	$	38	$	—	$	—
Liabilities:
Warrant liability	$	—	$	—	$	(247	)
Warrant commitment liability		—		—		(320	)
Mudrick convertible notes		—		—		(56,743	)

	Fair Value Measurement
December 31, 2021	Level 1		Level 2		Level 3
Assets:
Money market account	$	4,519	$	—	$	—
Liabilities:
Redeemable convertible preferred stock warrant liability	$	—	$	—	$	(48,167	)
Common stock warrant liability		—		—		(337	)
Convertible Promissory Notes		—		—		(34,803	)

Warrant [Member]

Schedule of binomial lattice model for initial measurement of private placement warrants

assumptions:

	2022
Stock price	$	0.65
Exercise price	$	11.50
Risk-free interest rate		3.96	%
Time to expiration (years)		4.94
Expected volatility		70.70	%
Fair value per warrant	$	0.05

The Company calculated the estimated fair value of its convertible redeemable preferred and common stock warrants as of December 31, 2021 using the following assumptions:

	2021
Expected volatility (%)	66.9 - 82.7
Risk-free interest rate (%)	0.2 – 1.5
Expected dividend yield (%)		—
Expected term (years)	0.5 – 9.1

Schedule of changes in the level 3 warrant liability measured at fair value

The following table presents changes in the Level 3 liabilities measured at fair value for the years ended December 31, 2022 and 2021, respectively (in thousands):

	Year ended December 31, 2022
	Warrant commitment liability			Redeemable convertible preferred stock warrants			Private Warrants			Common Stock Warrants
Balance (beginning of period)	$	—		$	48,167		$	—		337
Additions		1,365			—			900		0
Fair value measurement adjustments		(1,045	)		33,183			(653	)		265
Exercised		—			(81,350	)		—			(602	)
Balance (end of period)	$	320		$	—		$	247		$	—

	Year ended December 31, 2021
	Redeemable convertible preferred stock warrants			Common Stock Warrants
Balance (beginning of period)	$	35,473		$	277
Additions		916			—
Fair Value Measurement Adjustments		15,293			60
Exercised		(3,515	)		—
Balance (end of period)	$	48,167		$	337

Convertible Promissory Notes And Securities [Member]

Schedule of binomial lattice model for initial measurement of private placement warrants

The Company calculated the estimated fair value of the Mudrick Convertible Note as of December 31, 2022 using the following assumptions:

	Mudrick Convertible Note
Issuance date	12/8/2022
Maturity date	12/8/2027
Interest rate (PIK)		9.50	%
Expected volatility factor		95.23	%
Risk-free interest rate		4.00	%
Estimated market yield		30.00	%

The Company calculated the estimated fair value of convertible promissory notes as of December 31, 2021 using the following assumptions:

December 31, 2021
Contractual conversion price adjustment (%)	80.0% - 85.0%
Discount rate		11.9	%
Expected term (years)	0.3 – 0.5

Schedule of changes in the level 3 convertible promissory notes and securities measured at fair value

The following table presents changes in the Level 3 convertible promissory notes measured at fair value for the periods ended December 31, 2022 and December 31, 2021 respectively (in thousands):

	Year ended December 31, 2022
	2021 Convertible promissory notes			2022 bridge loans			Mudrick Convertible Notes
Balance (beginning of period)	$	34,803		$	—		$	—
Additions		—			37,539			166,039
Fair value measurement adjustments		6,700			10,094			(109,296	)
Converted		(41,503	)		(47,633	)		—
Balance (end of period)	$	—		$	—		$	56,743

	Year ended December 31, 2021
	2021 Convertible Promissory Notes
Balance (beginning of period)	$	—
Additions		29,420
Fair value measurement adjustments		5,383
Exercised		—
Balance (end of period)	$	34,803