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Debt and Warrants Transactions (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Summary of Assumptions Utilized | Below are specific assumptions utilized:
Convertible Notes Derivative | March 31, 2023 |  | May 1, 2023 |  | May 31, 2023 |  | June 30, 2023 |  |  |
Common stock market price | $ | 1.16 |  |  | $ | 1.22 |  |  | $ | 1.21 |  |  | $ | 1.11 |  |  |  |
Risk-free interest rate | 4.68 | % |  | 4.68 | % |  | 4.91 | % |  | 5.42 | % |  |  |
Expected dividend yield | — |  |  | — |  |  | — |  |  | — |  |  |  |
Expected term (in years) | 0.75 |  |  | 0.67 |  |  | 0.59 |  |  | 0.50 |  |  |  |
Expected volatility | 84.34 | % |  | 81.57 | % |  | 86.20 | % |  | 90.68 | % |  |  |
Below are the specific assumptions utilized:
Warrants |  |  |  |  |  |  | June 30, 2023
Common stock market price |  |  |  |  |  |  | $ | 1.11 |
Risk-free interest rate |  |  |  |  |  |  | 3.95 | %
Expected dividend yield |  |  |  |  |  |  | — |
Expected term (in years) |  |  |  |  |  |  | 4.12 |
Expected volatility |  |  |  |  |  |  | 68.72 | %
Additional Warrants |  |  |  |  |  |  | June 30, 2023
Common stock market price |  |  |  |  |  |  | $ | 1.11 |
Risk-free interest rate |  |  |  |  |  |  | 3.95 | %
Expected dividend yield |  |  |  |  |  |  | — |
Expected term (in years) |  |  |  |  |  |  | 4.62 |
Expected volatility |  |  |  |  |  |  | 68.17 | %
Balance of the Notes | The current balance of the Notes as of June 30, 2023 is as follows (unaudited, in thousands):
| Current |  |  |  |
Gross Balance as of June 30, 2023 | $ | 9,000 |  |  |  |  |
Unamortized Discount | (1,829) |  |  |  |  |
Unamortized Issuance Costs | (109) |  |  |  |  |
Net Balance as of June 30, 2023 | $ | 7,062 |  |  |  |  |

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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- References No definition available. + Details
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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 + Details
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