Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.22.2.2
Subsequent Events
9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events
12.
Subsequent Events
The Company has evaluated subsequent events and has determined that no adjustments or additional disclosures are necessary to the amounts reported in the accompanying Unaudited Condensed Consolidated Financial Statements, except as disclosed below:
Redemption of EIB Warrants
On October 18, 2021, EIB submitted a notice of cancellation for the remaining 775,966 EIB warrants (Tranche B). The valuation for settlement of these warrants is based on the VWAP
 
20-day
 
trading price method as of October 14, 2021, as stated in the notice of cancellation. The settlement amount is EUR 7,595. Tranche A of the EIB Warrants, in respect of which EIB submitted a notice of cancellation on September 24, 2021 (Note 6), and Tranche B of the EIB Warrants were canceled in full in exchange for a total cash amount of EUR 17,265, which was paid to EIB on November 8, 2021. Upon settlement of the warrants, the cash collateral of $12,801 will cease to be restricted.