Quarterly report pursuant to Section 13 or 15(d)

Equity Warrants Classified as Derivative Liabilities

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Equity Warrants Classified as Derivative Liabilities
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Equity Warrants Classified as Derivative Liabilities
8. Equity Warrants Classified as Derivative Liabilities
Equity warrants that are classified as derivative liabilities must be measured at fair value upon issuance and re-valued at the end of each reporting period through expiration and are included in derivative liabilities in the Company's unaudited condensed consolidated balance sheets. Any change in fair value between the respective reporting dates is recognized as an unrealized gain or loss in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss (see Note 13). The Company's derivative liabilities were made up of only equity warrants and the Sponsor Shares as of March 31, 2024 and December 31, 2023.
The following table is a summary of the number of shares of the Company’s Class A common stock issuable upon exercise of warrants at March 31, 2024:
Number of Shares Exercise Price Redemption Price Expiration Date Classification (Loss) Gain in Value for the Three Months Ended March 31, 2024 Fair Value as of March 31, 2024
(in thousands) (in thousands)
Public Warrants 15,813  $ 11.50  $ 18.00  9/9/2026 Liability $ (406) $ 1,202 
Private Placement Warrants - Issued October 2019 4,163  11.50  18.00  9/9/2026 Liability —  416 
Private Placement Warrants - Issued October 2019 4,163  20.00  18.00  9/9/2026 Liability —  167 
Private Placement Warrants - Issued March 2023 16,404  2.20  N/A 9/8/2028 Liability 164  12,303 
In addition, the Company has 1.8 million Class A common stock warrants outstanding which have an exercise price of $0.11 and expiration dates from June 27, 2028 to October 31, 2029. These warrants are equity classified and are included in additional paid-in capital in the Company’s unaudited condensed consolidated balance sheets.