Equity and Warrants (Tables)

6 Months Ended

Jun. 30, 2022

Equity and Warrants

Summary of fully diluted capital structure

	June 30,	December 31,
	2022	2021
Issued and outstanding common shares	97,390,528	95,911,597
Earnout common shares	2,050,000	2,050,000
Total common shares issued and outstanding	99,440,528	97,961,597
Common shares reserved for future issuance:
Private warrants	1,795,700	1,795,700
Common stock options outstanding (Note 9)	4,429,426	4,822,992
Restricted stock units and awards (Note 9)	7,157,392	2,717,154
2020 Equity Plan pool reserved for future issuance	7,324,131	8,126,263
Convertible senior notes, due 2026(1)	16,998,130	16,998,130
Total shares of common stock outstanding and reserved for future issuance	137,145,307	132,421,836

(1) In connection with the September 16, 2021, issuance of the 2026 Notes, the Company used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to the Company’s common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing the conversion price for the Company from $25 per share to approximately $37.74 per share, which would result in 11,261,261 potentially dilutive shares instead of the shares reported in this table.

Schedule of warrant activity

	Number of
	Common
	Shares Issued	Cash Received
Balances as of January 1, 2022	1,795,700	$	—
Exercised	—		—
Canceled	—		—
Balances as of June 30, 2022	1,795,700	$	—