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
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Equity Warrants Classified as Derivative Liabilities
8. Equity Warrants Classified as Derivative Liabilities
Warrant Valuation
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 June 30, 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 June 30, 2024:
Number of Shares Exercise Price Redemption Price Expiration Date Classification Gain in Value for the Six Months Ended June 30, 2024 Fair Value as of June 30, 2024
(in thousands) (in thousands)
Public Warrants 15,813  $ 11.50  $ 18.00  9/9/2026 Liability $ 275  $ 520 
Private Placement Warrants - Issued October 2019 4,163  11.50  18.00  9/9/2026 Liability 250  167 
Private Placement Warrants - Issued October 2019 4,163  20.00  18.00  9/9/2026 Liability 83  83 
Private Placement Warrants - Issued March 2023 16,404  2.20  N/A 9/8/2028 Liability 3,937  8,530 
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.