Annual report pursuant to Section 13 and 15(d)

Reverse Recapitalization (Tables)

v3.22.4
Reverse Recapitalization (Tables)
12 Months Ended
Dec. 31, 2022
Business Combinations [Abstract]  
Schedule of reconciliation of business combination to statement of cash flows and statement of changes in equity
The following table reconciles the elements of the Business Combination to the consolidated statement of cash flows and the consolidated statement of changes in equity for the year ended December 31, 2021:
Recapitalization
Cash - Gig's trust and cash (net of redemptions and transaction costs) $ 117,796 
Cash - PIPE Financing 25,000 
Net Cash provided by Business Combination and PIPE Financing 142,796 
Less: non-cash items charged against additional paid-in capital (32,995)
Net contributions from Business Combination and PIPE Financing $ 109,801 
Schedule of common stock outstanding following the consummation of business combination
The number of shares of Common Stock outstanding immediately following the consummation of the Business Combination:
Number of Shares
Common stock, outstanding prior to Business Combination 25,893,479 
Less: redemption of Gig shares (5,816,664)
Common stock Gig 20,076,815 
Shares issued in PIPE Financing 2,500,000 
Business Combination and PIPE Financing shares 22,576,815 
Lightning Systems shares 50,652,890 
Total shares of common stock outstanding immediately after Business Combination 73,229,705