Stockholders' Equity

9 Months Ended

Sep. 30, 2022

Stockholders' Equity

Stockholders' Equity

11.  Stockholders’ Equity

Common Stock and Warrants

On August 24, 2022, a warrant to purchase up to 16,000,000 shares of common stock was issued in connection with a transaction agreement with Amazon, as discussed in Note 12, “Warrant Transaction Agreements.”  This warrant is measured at fair value at the time of grant or modification and is classified as an equity instrument on the unaudited interim condensed consolidated balance sheets.

In February 2021, the Company completed a sale of its common stock in connection with a strategic partnership with SK Holdings Co., Ltd. (“SK Holdings”) to accelerate the use of hydrogen as an alternative energy source in Asian markets. The Company sold 54,966,188 shares of its common stock to a subsidiary of SK Holdings at a purchase price of $29.2893 per share, or an aggregate purchase price of approximately $1.6 billion.

In January and February 2021, the Company issued and sold in a registered equity offering an aggregate of 32.2 million shares of its common stock at a purchase price of $65.00 per share for net proceeds of approximately $2.0 billion.

In November 2020, the Company issued and sold in a registered equity offering an aggregate of 43,700,000 shares of its common stock at a purchase price of $22.25 per share for net proceeds of approximately $927.3 million.

In August 2020, the Company issued and sold in a registered equity offering an aggregate of 35,276,250 shares of its common stock at a purchase price of $10.25 per share for net proceeds of approximately $344.4 million.

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income comprises the following (in thousands):

	Total Pre-Tax Amount		Tax		Net-of-Tax Amount
June 30, 2022	$	(28,989)	$	—	$	(28,989)
Net unrealized loss on available-for-sale securities		(4,992)		—		(4,992)
Foreign currency translation loss		(1,044)		—		(1,044)
September 30, 2022	$	(35,025)	$	—	$	(35,025)
December 31, 2021	$	(1,532)	$	—	$	(1,532)
Net unrealized loss on available-for-sale securities		(23,401)		—		(23,401)
Foreign currency translation loss		(10,092)		—		(10,092)
September 30, 2022	$	(35,025)	$	—	$	(35,025)

	Total Pre-Tax Amount		Tax		Net-of-Tax Amount
June 30, 2021	$	34	$	—	$	34
Net unrealized loss on available-for-sale securities		(2,200)		—		(2,200)
Foreign currency translation loss		(172)		—		(172)
September 30, 2021	$	(2,338)	$	—	$	(2,338)
December 31, 2020	$	2,451	$	—	$	2,451
Net unrealized loss on available-for-sale securities		(4,075)		—		(4,075)
Foreign currency translation loss		(714)		—		(714)
September 30, 2021	$	(2,338)	$	—	$	(2,338)