Stockholders' Equity (Tables)
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9 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Dec. 31, 2020 |
| Summary of Input Variables |
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| |
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0.80 |
% |
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0.36 |
% |
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4.21 |
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5 |
|
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|
35.0 |
% |
|
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30.0 |
% |
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0 |
% |
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0 |
% |
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The input variables are noted in the table below:
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0.18 |
% |
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3 |
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| |
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65.9 |
% |
Expected dividend yield (a) |
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|
0 |
% |
| (a) |
The Monte Carlo method assumes a reinvestment of dividends. | The input variables for the Black Scholes are noted in the table below: |
| Summary of Share-based Compensation and Tax Benefit Recognized |
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Total share-based compensation and the related income tax benefit recognized in the Company’s consolidated statements of operations were as follows:
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Performance condition awards |
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$ |
— |
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| |
|
|
785 |
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| |
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33 |
|
| |
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| |
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|
818 |
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— |
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|
Share-based compensation, net of income tax benefit |
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$ |
818 |
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| Summary of Changes in the Derivative Liability |
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The following is an analysis of changes in the derivative liability:
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$ |
22,113,000 |
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|
$ |
(5,597,000) |
| |
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| |
|
$ |
16,516,000 |
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| Summary of Analysis of Changes in Warrant Liability |
The following is an analysis of changes in the warrant liability for the nine months ended September 30, 2021:
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Liability at December 31, 2020 |
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$ |
16,516 |
|
Gain during the nine months ended September 30, 2021 |
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(10,405 |
) |
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Liability at September 30, 2021 |
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$ |
6,111 |
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The following is an analysis of changes in the derivative liability:
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$ |
22,113,000 |
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| |
|
$ |
(5,597,000) |
| |
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|
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| |
|
$ |
16,516,000 |
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|
| Warrant [Member] |
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| Summary of Input Variables for the Black Scholes |
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The input variables for the Black Scholes are noted in the table below: |
| Restricted Stock [Member] |
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| Summary of Activity of Shares |
The following table summarizes activity of Restricted Stock Units during the nine months ended September 30, 2021:
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Non-vested at December 31, 2020 |
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1,250,000 |
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$ |
15.28 |
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|
1,320,700 |
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|
$ |
13.48 |
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|
(5,000 |
) |
|
$ |
10.66 |
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(268,400 |
) |
|
$ |
13.92 |
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| |
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Non-vested at September 30, 2021 |
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2,297,300 |
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$ |
14.37 |
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| |
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The following table summarizes activity of Restricted Shares during 2020 (there was no activity prior to December 16, 2020):
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Granted on December 16, 2020 |
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1,300,000 |
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$ |
15.30 |
|
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(50,000 |
) |
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|
15.70 |
|
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|
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— |
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— |
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| |
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Non-vested at December 31, 2020 |
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1,250,000 |
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$ |
15.28 |
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| Service Condition Shares [Member] |
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| Summary of Activity of Shares |
The following table summarizes activity of the restricted stock units by vesting condition during the nine months ended September 30, 2021:
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Non-vested at December 31, 2020 |
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950,000 |
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$ |
15.70 |
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200,000 |
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$ |
15.70 |
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|
100,000 |
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$ |
10.45 |
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|
783,700 |
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$ |
15.49 |
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|
77,000 |
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$ |
14.37 |
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|
460,000 |
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|
$ |
9.91 |
|
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|
|
— |
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(5,000 |
) |
|
$ |
10.66 |
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— |
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(148,400 |
) |
|
$ |
16.15 |
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— |
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(120,000 |
) |
|
$ |
11.17 |
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| |
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Non-vested at September 30, 2021 |
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1,585,300 |
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$ |
15.54 |
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|
272,000 |
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$ |
15.42 |
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440,000 |
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$ |
9.50 |
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The following table summarizes activity of the restricted shares during 2020 (there was no activity prior to December 16, 2020):
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950,000 |
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$ |
15.70 |
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250,000 |
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$ |
15.70 |
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|
100,000 |
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$ |
10.45 |
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| |
|
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— |
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— |
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(50,000 |
) |
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|
15.70 |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Non-vested at December 31, 2020 |
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|
950,000 |
|
|
$ |
15.70 |
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|
200,000 |
|
|
$ |
15.70 |
|
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|
100,000 |
|
|
$ |
10.45 |
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