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Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Valuation Model and Assumptions

The fair value of the interest make-whole payment derivative liability was determined using a Monte Carlo model using the following key assumptions:

			March 31, 2023						December 31, 2022
Volatility			50		%				50		%
Stock price			$0.58 per share						$0.84 per share
Credit spread			32.49		%				56.52		%
Term			2.09 years						2.34 years
Dividend yield			—		%				—		%
Risk-free rate			4.04		%				4.35		%

There was no change in the fair value of the interest make-whole liability for the three months ended March 31, 2023. For the three months ended March 31, 2023 and 2022, the Company recorded $— and a $0.6 million gain, respectively as a result of the change in the fair value of the interest make-whole liability.

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- References

No definition available.

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