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Fair Value Measurement of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 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:

			June 30, 2023						December 31, 2022
Volatility			60		%				50		%
Stock price			$0.64 per share						$0.84 per share
Credit spread			39.11		%				56.52		%
Term			1.84 years						2.34 years
Dividend yield			—		%				—		%
Risk-free rate			4.96		%				4.35		%

There was no material change in the fair value of the interest make-whole liability for both the three and six months ended June 30, 2023. For the three and six months ended June 30, 2022, the Company recorded a $0.3 million and $0.9 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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- References

No definition available.

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