General form of registration statement for all companies including face-amount certificate companies

Warrants (FY) (Tables)

v3.21.1
Warrants (FY) (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Schedule of outstanding warrants and changes in fair value
The following summarizes the Company's outstanding warrants to purchase shares of the Company's common stock as of and for the periods ending March 31, 2021 and December 31, 2020:

   
Warrants
   
Exercise Price
 
Warrants outstanding as of December 31, 2019
   
16,981,854
   
$
3.23
 
Issued
   
49,928,469
   
$
0.77
 
Exercised
   
(1,937,690
)
 
$
0.58
 
Terminated/Expired
   
(5,470,655
)
 
$
3.07
 
Warrants outstanding as of December 31, 2020
   
59,501,978
   
$
1.22
 
Issued
   
3,288,400
   
$
1.45
 
Exercised
   
(1,839,275
)
 
$
0.76
 
Terminated/Expired
   
(76,926
)
 
$
0.65
 
Warrants outstanding as of March 31, 2021
   
60,874,177
   
$
1.18
 
The following schedule shows the fair value of the warrant derivative liability as of March 31, 2021 and December 31, 2020, and the change in fair value during the periods ended March 31, 2021 and year ended December 31, 2020 (in thousands):

   
Warrant Derivative Liability
 
Balance as of December 31, 2019
 
$
2,220
 
Change in fair value of  warrant derivative liability
   
(2,220
)
Balance as of December 31, 2020
 
$
 
Change in fair value of  warrant derivative liability (1)
   
 
Balance as of March 31, 2021
 
$
 

(1) All of the May Acquisition Warrants expired during January 2021.
 
The following schedule shows the fair value of the warrant liability upon issuance, and the change in fair value during the periods ended March 31, 2021 and December 31, 2020 (in thousands):

   
Warrant liability
 
Issuance of Series F warrants
 
$
14,952
 
Change in fair value of  warrant liability
   
24,898
 
Balance as of December 31, 2020
 
$
39,850
 
Change in fair value of warrant liability
   
6,483
 
Balance as of March 31, 2021
 
$
46,333
 
The following illustrates the Company's outstanding warrants to purchase shares of the Company's common stock as of and for the years ending December 31, 2020 and 2019:

   
Warrants
   
Exercise Price
 
Warrants acquired on May 6, 2019
   
712,823
   
$
3.90
 
Issued
   
17,414,030
   
$
3.27
 
Exercised
   
(1,144,999
)
 
$
3.50
 
Warrants outstanding as of December 31, 2019
   
16,981,854
   
$
3.23
 
Issued
   
49,928,469
   
$
0.77
 
Exercised
   
(1,937,690
)
 
$
0.58
 
Terminated/Expired
   
(5,470,655
)
 
$
3.07
 
Warrants outstanding as of December 31, 2020
   
59,501,978
   
$
1.22
 
 
The following schedules show the fair value of the warrant derivative liability as of December 31, 2020 and 2019, and the change in fair value during the years ended December 31, 2020 and 2019 (in thousands):
 
   
Warrant Derivative Liability
 
Assumption of warrants in May Acquisitions
 
$
2,130
 
Change in fair value of warrant derivative liability
   
90
 
Balance as of December 31, 2019
 
$
2,220
 
Change in fair value of  warrant derivative liability
   
(2,220
)
Balance as of December 31, 2020
 
$
 
 
The following schedule shows the fair value of the warrant liability upon issuance and the change in fair value during the year ended December 31, 2020 (in thousands):

   
Warrant Liability
 
Issuance of Series F warrants
 
$
14,952
 
Change in fair value of warrant liability
   
24,898
 
Balance as of December 31, 2020
 
$
39,850
 
Schedule of fair value measurement inputs
The following schedule shows the inputs used to measure the fair value of the warrant liability:

Warrant Liability
 
March 31, 2021
   
December 31, 2020
 
Stock Price
 
$
1.44
   
$
1.27
 
Exercise Price
 
$
0.75
   
$
0.75
 
Expected remaining term (in years)
   
5.50-5.56
     
5.75-5.81
 
Volatility
   
67.5
%
   
67.5
%
Risk-free interest rate
   
1.1
%
   
0.5
%
The following schedule shows the inputs used to measure the fair value of the warrant liability as of December 31, 2020:

Warrant liability
 
December 31, 2020
 
Stock price
 
$
1.27
 
Exercise price
 
$
0.75
 
Expected remaining term (in years)
   
5.75–5.81
 
Volatility
   
67.5
%
Risk-free interest rate
   
0.5
%