Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited)

v3.22.1
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Total
Cowen
Common Stock
Common Stock
Cowen
Additional Paid-in Capital
Additional Paid-in Capital
Cowen
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficict
Beginning balance at Dec. 31, 2020 $ (7,429)   $ 3   $ 93,628   $ (30,431) $ (2,826) $ (67,803)
Beginning balance, shares at Dec. 31, 2020     30,288,687       2,798,058    
Change in forward share purchase agreement liability 17,528       17,528        
Conversion of Note   $ 2,295       $ 2,295      
Conversion of Note, shares       303,171          
Forfeiture of 2020 Sponsors' Earnout Shares [1] 1,244       1,244        
Forfeiture of 2020 Sponsors' Earnout Shares, shares [1]     (469,343)            
Stock-based compensation (RSUs) 5,011       5,011        
Stock-based compensation (RSUs), shares     558,396            
Warrants exercised for common stock 2,872       2,872        
Warrants exercised for common stock, shares     249,706            
Fair value of warrants (326)       (326)        
Net loss (10,358)               (10,358)
Other comprehensive (loss) income 1,101             1,101  
Ending balance at Mar. 31, 2021 11,938   $ 3   122,252   $ (30,431) (1,725) (78,161)
Ending balance, shares at Mar. 31, 2021     30,930,617       2,798,058    
Beginning balance at Dec. 31, 2021 117,422   $ 4   251,659   $ (30,431) (2,010) (101,800)
Beginning balance, shares at Dec. 31, 2021     42,033,637       2,798,058    
Stock-based compensation (RSUs) 6,759       6,759        
Stock-based compensation (RSUs), shares     328,196            
Net loss (13,172)               (13,172)
Other comprehensive (loss) income (629)             (629)  
Ending balance at Mar. 31, 2022 $ 110,380   $ 4   $ 258,418   $ (30,431) $ (2,639) $ (114,972)
Ending balance, shares at Mar. 31, 2022     42,361,833       2,798,058    
[1]

On March 16, 2021, upon the final determination that GigAcquisitions, LLC, Cowen Investments II LLC (“Cowen”), Irwin Silverberg and Jeffrey Bernstein (the “Sponsors”) were not entitled to receive the final 50% of the Earnout Shares (“2020 Sponsors’ Earnout Shares”) pursuant to the terms of the Purchase Agreement entered into on February 22, 2019, such number of 2020 Sponsors’ Earnout Shares that did not vest were forfeited by all but one Sponsor. That remaining Sponsor settled its portion of the 2020 Sponsors’ Earnout Shares in cash in lieu of forfeiting its shares.