|9 Months Ended|
Sep. 30, 2022
|Subsequent Events [Abstract]|
|Subsequent Events||Subsequent Events
The Company evaluated subsequent events and transactions that occurred up to the date financial statements were issued.
On October 7, 2022, the Company entered into a collaboration agreement with Delta Air Lines (“Delta”) in which the parties agreed to develop a long-term strategic relationship for a premium airport transportation service that the Company plans to offer to Delta passengers. In connection with this agreement, the Company sold and issued to Delta 11,044,232 shares of the Company’s Common Stock at a purchase price of $5.4327 per share, for an aggregate purchase price of $60 million. In addition, the Company entered into a warrant agreement which entitles Delta to purchase 12,833,333 shares of the Company’s Common Stock in two tranches, exercisable after the satisfaction of certain collaboration milestones and subject to customary adjustments as defined in the warrant agreement.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef