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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Schedule of Common Stock Reserved for Future Issuances

As of June 30, 2024, the Company had reserved Common Stock for future issuances as follows:

			June 30, 2024
Common stock reserved for Contingent Earnout Shares			15,000,000
Common stock reserved for Option Agreement			1,333,334			(1)
Exercise of options outstanding under stock plans			12,521,655
Options available for issuance under stock plans			5,809,549
Shares available for grant under ESPP			1,030,033
Warrants to purchase Common Stock			5,588,506
			41,283,077

___________________________

(1)Assumes the exercise of the entire Option as provided for in the Option Agreement at the minimum purchase price of $7.50 per share.

Schedule of Common Stock Warrants Outstanding

The Company had the following Common Stock warrants outstanding as of June 30, 2024 and December 31, 2023:

			Common Stock Warrants Outstanding
Legacy Humacyte Common Stock Warrants			411,006
Private Placement Warrants			177,500
Public Warrants			5,000,000
Total Common Stock Warrants			5,588,506

Schedule of Assumptions Used in the Valuations

The Private Placement Warrants were valued using the following assumptions under the Monte Carlo simulation value model:

			June 30, 2024						December 31, 2023
Market price of public stock			$	4.80					$	2.84
Exercise price			$	11.50					$	11.50
Expected term (years)			2.16						2.65
Expected share price volatility			96.0		%				75.0		%
Risk-free interest rate			4.68		%				4.09		%
Estimated dividend yield			0		%				0		%

Assumptions used in the valuations are described below:

			June 30, 2024						December 31, 2023
Current stock price			$	4.80					$	2.84
Expected share price volatility			88.6		%				86.7		%
Risk-free interest rate			4.36		%				3.88		%
Estimated dividend yield			0		%				0		%
Expected term (years)			10.00						10.00

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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