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Stockholders' Equity/(Deficit) (Tables)
 6 Months Ended
Jun. 30, 2023
Federal Home Loan Banks [Abstract]  
Summary of Options Valued in Estimated on Date of Grant Using Black-Scholes Option-Pricing Model with Following Assumptions Used for Grants Issued The value of the stock options granted was determined using the Black-Scholes-Merton option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. The options were valued with the following assumptions used for grants issued in the table below. Expected volatilities are based on historical volatility of the Company’s stock as well as other companies operating similar businesses. The expected term (in years) is determined using historical data to estimate option exercise patterns. The expected dividend yield is based on the annualized dividend rate over the vesting period. The risk-free interest rate is based on the rate for US Treasury bonds commensurate with the expected term of the granted option.

 



May 24, 2023

 

 

June 9, 2023

 

Risk free interest rate

 

3.76

%

 

 

3.92

%

Expected life

5 years

 

 

5 years

 

Expected volatility

 

65.12

%

 

 

65.20

%

Expected dividend yield

—

 

 

—

 

Grant-date fair value

1.72

 

 

2.04