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Class A Common Stock Subject to Possible Redemption (Tables)

9 Months Ended

Sep. 30, 2022

Temporary Equity Disclosure [Abstract]

Summary of reconciliation of common stock subject to possible redemption

Gross proceeds			$	150,000,000
Less:
Amount allocated to public warrants			(5,100,000)
Class A common stock issuance costs			(13,306,092)
Plus:
Accretion of carrying value to redemption value			18,406,092
Class A common stock subject to possible redemption, December 31, 2021			150,000,000
Subsequent remeasurement of Class A common stock subject to possible redemption			293,649
Class A common stock subject to possible redemption, September 30, 2022			$	150,293,649

Gross proceeds from Initial Public Offering			$	150,000,000
Less:
Fair value of Public Warrants at issuance			(5,100,000)
Offering costs allocated to Class A common stock subject to possible redemption			(13,306,092)
Plus:
Accretion on Class A common stock subject to possible redemption amount			18,406,092
Class A common stock subject to possible redemption			$	150,000,000

The authorized, issued and outstanding shares, issue price, and carrying value as of September 30, 2022, are as follows (in thousands, except share and per share amounts):

			Shares Authorized						Shares Issued and Outstanding						Issue Price						Carrying Amount
Series A			4,666,503						4,666,503						$1.75 - 3.94						$	12,230
Series B			1,733,370						1,733,370						10.38						18,000
Series C			4,254,733						4,142,408						14.69						60,850
Series D			10,274,260						10,161,362						19.93						188,402
Series E			5,183,957						5,183,957						22.86						118,076
Series F			3,634,210						3,634,210						22.86						83,073
			29,747,033						29,521,810												$	480,631

The authorized, issued and outstanding shares, issue price, and carrying value as of December 31, 2021 and 2020 are as follows (in thousands, except share and per share amounts):

			Year Ended December 31, 2021
			Shares Authorized						Shares Issued and Outstanding						Issue Price						Carrying Amount
Series A			4,666,503						4,666,503						$1.75 - 3.94						$	12,230
Series B			1,733,370						1,733,370						10.38						18,000
Series C			4,254,733						4,142,408						14.69						60,850
Series D			10,274,260						10,161,362						19.93						188,402
Series E			5,183,957						5,183,957						22.86						118,076
Series F			3,634,210						3,634,210						22.86						83,073
			29,747,033						29,521,810												$	480,631

			Year Ended December 31, 2020
			Shares Authorized						Shares Issued and Outstanding						Issue Price						Carrying Amount
Series A			4,666,503						4,666,503						$1.75 - 3.94						$	12,230
Series B			1,733,370						1,733,370						10.38						18,000
Series C			4,254,733						4,142,408						14.69						60,850
Series D			10,274,260						10,003,304						19.93						185,252
Series E			5,183,957						5,183,957						22.86						118,076
			26,112,823						25,729,542												$	394,408

Redeemable convertible preferred stock issued and outstanding as of December 31, 2021 and 2020, and changes during the years ended December 31, 2021 and 2020, were as follows:

			Redeemable Convertible Preferred Stock
			Series A												Series B												Series C												Series D												Series E												Series F												Total
			Shares						Amount						Shares						Amount						Shares						Amount						Shares						Amount						Shares						Amount						Shares						Amount						Shares						Amount
Balance as of January 1, 2020			4,666,503						$	12,230					1,733,370						$	18,000					4,142,408						$	60,850					10,003,304						$	185,252					3,149,745						$	71,606					$	—					$	—					23,695,330						$	347,938
Preferred stock issuance, net of costs			—						—						—						—						—						—						—						—						2,034,212						46,470						—						—						2,034,212						46,470
Balance as of December 31, 2020			4,666,503						12,230						1,733,370						18,000						4,142,408						60,850						10,003,304						185,252						5,183,957						118,076						—						—						25,729,542						394,408
Preferred stock issuance, net of costs			—						—						—						—						—						—						158,058						3,150						—						—						3,634,210						83,073						3,792,268						86,223
Balance as of December 31, 2021			4,666,503						$	12,230					1,733,370						$	18,000					4,142,408						$	60,850					10,161,362						$	188,402					5,183,957						$	118,076					3,634,210						$	83,073					29,521,810						$	480,631

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

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