Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net loss $ (55,022) $ (18,589)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,562 976
Non-cash lease expense 548 319
Non-cash interest income (217) 0
Stock based compensation 26,757 452
Asset Impairment 2,828 3,236
Change in fair value of warrant liability (2,061) 0
Change in pension obligation 21 53
Change in asset retirement obligation (93) 0
Foreign exchange gains and losses 163 100
Change in operating assets (55,247) 664
Change in operating liabilities 26,966 (1,286)
Net cash used in operating activities (47,795) (14,075)
Cash Flows From Investing Activities    
Purchase of property and equipment (679) (76)
Purchase of convertible notes (2,000) 0
Net cash used in investing activities (2,679) (76)
Cash Flows From Financing Activities    
Proceeds from exercise of stock options 131 0
Proceeds from reverse recapitalization and PIPE financing, net 235,940 0
Proceeds from exercise of warrants 7,855 0
Payment of transaction costs related to reverse recapitalization (20,651) (469)
Payment of taxes related to net settlement of equity awards (3,017) 0
Repayment of debt 0 (765)
Proceeds from promissory note 0 125
Payment of finance lease obligations (51) (43)
Proceeds from issue of shares, net of issuance costs 0 5
Net cash provided by financing activities 220,207 119,668
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (123) 723
Net increase in cash, cash equivalents, and restricted cash 169,610 106,240
Cash, cash equivalents, and restricted cash  –  beginning of the period 105,125 10,051
Cash, cash equivalents, and restricted cash –  end of the period 274,735 116,291
Less: Restricted cash at end of period 25,086 0
Cash and cash equivalents - end of period 249,649 116,291
Supplemental Disclosures of Cash Flow Information:    
Income taxes paid 3 1
Cash paid for interest 1 50
Reclassification of inventory costs 0 10,812
Supplemental Disclosures of Non-Cash Investing and Financing Information:    
Conversion of redeemable preferred stock into common stock in connection with the reverse recapitalization 182,709 0
Warrants assumed as part of reverse recapitalization 19,838 0
Actuarial gain on pension 561 295
Assets acquired on finance lease 35 43
Purchases of intangible assets recorded in accrued liabilities 0 119
Series B-1 preferred stock | Preferred Stock    
Cash Flows From Financing Activities    
Proceeds from Series B-1 preferred stock, net of issuance costs 0 15,295
Series C preferred stock | Preferred Stock    
Cash Flows From Financing Activities    
Proceeds from Series B-1 preferred stock, net of issuance costs $ 0 $ 105,520