Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.23.1
Debt (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Summary of Calculated Aggregate Fair Values and Assumptions
The following table sets forth the assumptions used and calculated aggregated fair values of the liability classified warrants:

December 31, 2022 December 31, 2021
Strike price per share $ 1.42  $ 2.25 
Closing price per share $ 0.77  $ 2.63 
Term (years) 0.53 1.53
Volatility 102  % 186  %
Risk-free rate 4.70  % 0.56  %
Dividend Yield
Summary of Outstanding Warrants A summary of the change in fair value of the warrant liability is set forth below:
2022 2021
Balance, beginning of year $ 3,605  $ 1,614 
Warrant issued —  — 
Warrant Exercised —  (16,148)
Change in fair value of warrant liability (3,349) 18,139 
Balance, end of year $ 256  $ 3,605 
A summary of our outstanding warrants is set forth below:
December 31, 2022 December 31, 2021
Warrant Type Cash Exercise
Price per
share
Number of warrants Cash Exercise
Price per
share
Number of warrants
2020 Convertible Notes warrant $ 1.42  2,811,315  $ 2.25  1,780,000 
Common stock warrant (Series D-1) $ —  —  $ 2.25  35,555 
Common stock warrants (Series F) $ 9.22  377,402  $ 9.22  377,402 
Public Warrants (PHUNW) $ 11.50  1,761,291  $ 11.50  1,761,291 
Private Placement Warrants $ 11.50  1,658,381  $ 11.50  1,658,381 
Unit Purchase Option Warrants $ 11.50  24,172  $ 11.50  24,172 
Total 6,632,561  5,636,801 
Summary of Interest Expense The following table sets forth interest expense for our various debt obligations included in the consolidated statements of operations and comprehensive loss:

Year Ended December 31,
2022 2021
2022 Promissory Note $ 903  $ — 
2021 Promissory Note 318  203 
2020 Convertible Notes —  1,111 
Accretion of debt discount - issuance costs 1,034  1,913 
Accretion of debt discount - warrants —  1,029 
All other debt and financing obligations 151  225 
Total $ 2,406  $ 4,481