Quarterly report pursuant to Section 13 or 15(d)

Equity

v3.22.2
Equity
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Equity EquityOn May 10, 2022, the Company entered into the SEPA with Yorkville. Pursuant to the SEPA, the Company could sell to Yorkville up to $250.0 million of its shares of Common Stock, at the Company’s request any time during the 36 months following the execution of the SEPA. During the three months ended June 30, 2022, we issued 14.2 million shares of Common Stock to Yorkville for cash proceeds of $32.5 million with a portion of the shares issued as non-cash stock purchase discount under the SEPA. See Notes 1 and 15 for information regarding the Company’s agreement with Yorkville not to request further purchases of Common Stock under the SEPA while any amounts remain outstanding under the PPA. Refer to Note 15 for further information regarding the PPA with Yorkville.Refer to Notes 9 and 12 for information regarding the PIPE and VDL Nedcar warrants, respectively.