Quarterly report pursuant to Section 13 or 15(d)

Common Stock and Warrants (Tables)

v3.23.1
Common Stock and Warrants (Tables)
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Schedule of Summary of Warrant Activity

The following table summarizes the FedEx Warrant activity for the three months ended March 31, 2023:

Warrant Shares

Outstanding at December 31, 2022

23,988,085

Granted

Vested

 

Outstanding and unvested March 31, 2023

23,988,085

Summary of Warrants Outstanding

As of March 31, 2023, the following Warrants were outstanding:

 

 

 

 

 

 

Warrant Type

 

Exercise Price

 

Shares

 Public Warrants

 

$11.50

 

9,583,333

 Private Placement Warrants

 

$11.50

 

5,166,667

Total Warrants Outstanding

 

 

 

14,750,000

Schedule of Stock Compensation, Using the Black-scholes Option Pricing Model The fair values of the FedEx Warrant were determined as of the grant date in accordance with ASC 718, Compensation – Stock Compensation, using the Black-Scholes option pricing model and the following assumptions:

 

July 29,

2022

Dividend yield

Expected volatility

52.0%

 

Risk-free interest rate

2.7%

Expected term

10 Years