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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

FAIR VALUE MEASUREMENTS

Schedule of key inputs into the monte carlo simulation for the private placement warrants

The fair value of the Series B-2 Tranche Liability was determined using a Binomial Tranche Model. Both models incorporated the following significant assumptions for the respective valuation dates:

Schedule of changes in the level 3 fair value of warrant liabilities

The following tables summarize the changes in fair value of our outstanding earnout liability in the nine months ended September 30, 2023. The warrant and earnout liability were not present in the nine months ended September 30, 2022.

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​

​

​

​

​

​

Fair Value at

Change in

​

​

Net Transfer

Fair Value at

Level 3

​

December 31,

​

Unrealized

​

Issuances

​

In (Out) of

​

September 30,

Liabilities

​

2022

​

(Gains) Losses

​

(Settlements)

​

Level 3

​

2023

Contingent earnout liability

​

$

—

​

$

(19,904)

​

$

28,927

​

$

—

​

$

9,023

The following tables summarize the changes in fair value of our outstanding warrant and tranche liabilities measured using Level 3 inputs in the nine months ended September 30, 2023 and 2022:

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​

​

​

Fair Value at

Change in

​

​

Net Transfer

Fair Value at

Level 3

​

December 31,

​

Unrealized

​

Issuances

​

In (Out) of

​

September 30,

Liabilities

​

2021

​

(Gains) Losses

​

(Settlements)

​

Level 3

​

2022

Warrant liability

​

$

391

​

$

(19)

​

$

—

​

$

—

​

$

372

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value at

Change in

​

​

Net Transfer

Fair Value at

Level 3

​

December 31,

​

Unrealized

​

Issuances

​

In (Out) of

​

September 30,

Liabilities

​

2022

​

(Gains) Losses

​

(Settlements)

​

Level 3

​

2023

Warrant liability

​

$

369

​

$

—

​

$

(369)

​

$

—

​

$

—

Series B-2 tranche liabilities

​

$

4,702

​

$

(3,200)

​

$

(1,502)

​

$

—

​

$

—

Series B-3 Warrant liabilities

​

$

15,819

​

$

(311)

​

$

(15,508)

(1)

$

—

​

$

—

(1) This amount includes settlements of $25,409, and final net exercise of $4,800, transferred to convertible preferred stock, offset by issuances of $14,701

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Fair Value at

​

Change in

​

​

​

​

Net Transfer

​

Fair Value at

Level 3

​

December 31,

​

Unrealized

​

Issuances

​

In (Out) of

​

December 31,

Liabilities

2020

(Gains) Losses

(Settlements)

Level 3

2021

Warrant liability

​

$

3,399

​

$

379

​

$

(3,387)

(1)

$

—

​

$

391

Put option liability

​

$

5,140

​

$

70

​

$

(5,210)

​

$

—

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$

—

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​

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Fair Value at

​

Change in

​

​

​

​

Net Transfer

​

Fair Value at

Level 3

​

December 31,

​

Unrealized

​

Issuances

​

In (Out) of

​

December 31,

Liabilities

2021

(Gains) Losses

(Settlements)

Level 3

2022

Warrant liability

​

$

391

​

$

(22)

​

$

—

​

$

—

​

$

369

Series B-2 tranche liabilities

​

$

—

​

$

(1,645)

​

$

6,347

​

$

—

​

$

4,702

Series B-3 warrant liabilities

​

$

—

​

$

3,853

​

$

11,966

​

$

—

​

$

15,819

​

(1)This amount includes settlements of $3,397, reduced by issuances of $10.

MedTech Acquisition Corp

FAIR VALUE MEASUREMENTS

Schedule of company's assets that are measured at fair value on a recurring basis

​

​	​	​	​	​	​	​	​	​
​		​		December 31,			December 31,
​	​	Level		2022			2021
Assets:				​		​	​	​
Cash and investments held in Trust Account		1	​	$	19,827,884	​	$	250,007,295
Liabilities:	​	​	​	​	​	​	​	​
Warrant Liabilities – Public Warrants	​	1	​	$	666,667	​	$	4,333,333
Warrant Liabilities – Private Placement Warrants	​	3	​	$	394,667	​	$	2,565,333

Schedule of key inputs into the monte carlo simulation for the private placement warrants

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​	​	​	​	​	​	​	​
​	​	December 31,		​	December 31,		​
​		2022			2021
Exercise price	​	$	11.50	​	$	11.50	​
Stock price	​	$	10.03	​	$	9.88	​
Volatility	​		6.40	%		9.60	%
Term	​		5.25	​		5.16	​
Risk-free rate	​		3.91	%		1.27	%
Dividend yield	​		0.00	%		0.00	%

Schedule of changes in the level 3 fair value of warrant liabilities

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​	​	​	​	​	​	​	​	​	​
​		Private		​	​	​		Warrant
​	​	Placement		​	Public		​	Liabilities
Fair value as of December 31, 2021	​	$	2,565,333	​	$	—	​	$	2,565,333
Change in fair value		​	(2,170,666)		​	—		​	(2,170,666)
Fair value as of December 31, 2022	​	$	394,667	​	$	—	​	$	394,667

​

​	​	​	​	​	​	​	​	​	​
​	​	Private		​	​		​	Warrant
​		Placement			Public			Liabilities
Fair value as of December 31, 2020	​	$	5,476,000	​	$	9,166,666	​	$	14,642,666
Change in fair value	​		(2,910,667)	​		(4,833,333)	​		(7,744,000)
Transfer to level 1	​		—	​		(4,333,333)	​		(4,333,333)
Fair value as of December 31, 2021	​	$	2,565,333	​	$	—	​	$	2,565,333

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- Definition

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 the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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