Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Tables)

v3.22.2.2
Related Party Transactions (Tables)
9 Months Ended
Sep. 30, 2022
Related Party Transaction  
Summary of quantitative information regarding Level 3 fair value measurements

    

December 31,

 

2021

 

Share price

$

9.69

Strike price

$

11.50

Term (in years)

 

5.50

Volatility

 

10.7

%

Risk-free rate

 

1.30

%

Dividend yield

 

0

%

Summary of reconciliation of changes in fair value liability of the beginning and ending balances for the Company's Warrants

Fair value at December 31, 2021

    

$

3,265,830

Change in fair value

 

155,234

Private Placement Warrants reclassified to level 2(1)

(3,421,064)

Fair Value at September 30, 2022

$

(1) Assumes the Private Warrants were reclassified on June 30, 2022

Convertible promissory note  
Related Party Transaction  
Summary of quantitative information regarding Level 3 fair value measurements

May 24, 2022

May 6, 2022

Conversion

Borrowing

(Final

(Initial

    

Measurement)

    

Measurement)

Underlying warrant value

$

0.60

$

0.80

Exercise price

$

1.50

$

1.50

Holding period

0.35

0.40

Risk-free rate%

1.25

%  

1.18

%

Volatility%

59.57

%  

55.35

%

Summary of reconciliation of changes in fair value liability of the beginning and ending balances for the Company's Warrants

Fair value as of May 6, 2022

    

$

8,000

Change in fair value

 

(7,200)

Conversion to warrants

(800)

Fair value as of May 24, 2022

$