Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Equity-Based Compensation [Abstract]

Schedule of Management Contingent Share Plan

The following table summarizes the Management Contingent Share Plan activity for the year ended December 31, 2022:

	Management Contingent Share Plan			Grant Date Fair Value
Beginning of year		-		$	-
Granted		9,200,000		$	7.81
Forfeited		(3,683,000	)	$	7.81
End of year		5,517,000		$	7.81
Vested		1,169,000		$	7.81

Schedule of Stock Option Activity

The following table summarizes stock option activity under the 2020 Plan for the year ended December 31, 2022:

	Stock Option Awards			Weighted- Average Exercise Price		Average Remaining Life (Years)		Aggregate Intrinsic Value
Beginning of year		2,828,307		$	6.51
Granted		204,181		$	15.75
Exercised		(14,796	)	$	6.51
Forfeited		(252,593	)	$	8.36
End of year		2,765,099		$	7.02		2.77	$	-
Exercisable at end of year		2,480,991		$	6.70		2.67	$	-

Schedule of Fair Value of Stock Option is a Black-Scholes

The table below illustrates the weighted-average valuation assumptions used for stock options granted during the year ended December 31, 2022 and 2021:

	2022			2021
Expected term (years)		3.2			2.3
Expected volatility		70.0	%		94.3	%
Risk-free interest rate		1.38	%		0.24	%
Expected dividend yield		0.0	%		0.0	%
Per-share weighted average grant date fair value	$	15.75		$	0.59

Schedule of Equity-Based Compensation Expense

Equity-based compensation expense, excluding the Management Contingent Share Plan, was recorded in the following expense categories within the consolidated statements of operations consistent with the manner in which the respective employee or service provider’s related cash compensation was recorded:

	2022		2021
Research and development1	$	110	$	(19	)
Selling, general and administrative		834		150
Total equity based compensation expense	$	944	$	131

1) Had the Company recorded the Management Contingent Share Plan within research and development and selling, general and administrative expense, then research and development would have been higher by $201 with the remaining expense recognized within selling, general and administrative expense.