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BUSINESS COMBINATION AND REVERSE RECAPITALIZATION (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Shares of Common Stock issued and outstanding
After giving effect to the above, shares of the Company’s Common Stock issued and outstanding immediately after the closing of the Business Combination were as follows (including restricted stock issued to certain executives upon closing):
StockholderNumber of Shares
FVAC public stockholders(1)
34,464,151 
Private Placement Warrants890,000 
MPMO unitholders(2)
71,941,538 
SNR unitholders19,999,942 
PIPE Financing20,000,000 
Restricted stock issued to certain MPMO executives2,013,006 
Total149,308,637 
(1)Represents the outstanding shares held by FVAC’s public stockholders (Class A common stock) which were not redeemed in connection with the Business Combination. The Company received gross proceeds of $344.7 million and net proceeds of $332.6 million after $12.1 million of underwriting commissions in connection with the sale of these shares.
(2)Includes 5,384,563 shares issued relating to the Shenghe Warrant.