Written Put Option (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instrument Detail [Abstract]

Schedule of Reverse Capitalization

The following table indicates the aggregate number of shares of common stock subject to the FPAs by each Investor:

	December 6, 2021
Highbridge Investors	2,453,195
Tenor	2,499,608
Glazer Investors	5,000,000
Total shares	9,952,803

Derivatives Fair Value Assumptions

The table below presents the value of the Written Put Option under the Black-Scholes OPM using the following assumptions as of the following date:

	December 31, 2021
Value of the written put options	$	4.50
Exercise price	$	10.15
Common stock price	$	5.66
Expected option term (in years)	0.18
Expected volatility	66.00%
Risk-free rate of return	0.06%
Expected annual dividend yield	—%

The table below presents the value of the private warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	June 30, 2022		December 31, 2021
Fair value of each private warrant	$	0.43	$	0.87
Exercise price	$	11.50	$	11.50
Common stock price	$	3.68	$	5.66
Expected option term (in years)	4.40		4.94
Expected volatility	46.50%		39.50%
Risk-free rate of return	3.00%		1.25%
Expected annual dividend yield	—%		—%