Fair Value Measurement of Assets and Liabilities (Tables)

9 Months Ended

Sep. 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:

	September 30, 2023		December 31, 2022
Volatility	68	%	50	%
Stock price	$0.42 per share		$0.84 per share
Credit spread	41.61	%	56.52	%
Term	1.59 years		2.34 years
Dividend yield	—	%	—	%
Risk-free rate	5.21	%	4.35	%

There was no material change in the fair value of the interest make-whole liability for both the three and nine months ended September 30, 2023. For the three and nine months ended September 30, 2022, the Company recorded no gain or loss and a $0.9 million gain, respectively, as a result of the change in the fair value of the interest make-whole liability.