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Earnout Shares (Tables)
6 Months Ended
Jun. 30, 2023
Earnout Shares  
Schedule of number of Earnout Shares

    

Triggering Event I

    

Triggering Event II

    

Triggering Event III

Derivative liability

 

8,059,386

 

8,059,386

 

5,372,923

Stock compensation

 

148,006

 

148,006

 

98,671

Total Earnout Shares

 

8,207,392

 

8,207,392

 

5,471,594

Schedule of assumptions used in valuation of instruments

Inputs

    

June 30, 2023

    

March 31, 2023

    

March 30, 2023

 

Current stock price

$

11.16

$

20.80

$

12.68

Stock price targets

$12.50, $15.00, $17.50

$12.50, $15.00, $17.50

$12.50, $15.00, $17.50

Expected life (in years)

4.75

 

5.00

 

5.00

Earnout period (in years)

4.75

 

4.75

 

4.75

Risk-free interest rate

4.20

%

 

3.69

%  

 

3.75

%

Expected volatility

40

%

 

40

%  

 

40

%

Expected dividend yield

%

 

%  

 

%