Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

Stockholders' Equity
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Stockholders' Equity
10. Stockholders’ Equity
On March 8, 2023, the Company completed the closing of a private placement whereby the Company issued 16,403,677 shares of the Company’s Class A common stock as well as warrants to purchase up to an additional 16,403,677 shares of Class A common stock (see Note 8). The purchase price of each share and associated warrant was $1.79. The aggregate gross proceeds to the Company from the private placement were $29.4 million before deducting the placement agent fees and other offering expenses payable by the Company.
The Company incurred transaction costs, which consisted of legal fees, accounting fees, placement agent fees, and other third-party costs related directly to the March 2023 private placement. Upon the closing of the March 2023 private placement, $0.6 million of transaction costs that had been incurred were recorded as a reduction to additional paid-in capital in the unaudited condensed consolidated statements of changes in stockholders’ equity and unaudited condensed consolidated balance sheets, and as a reduction to the proceeds from the transaction in the unaudited condensed consolidated statements of cash flows.