v3.22.4
Fair Value Measurements (Tables)
6 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assumptions Used to Calculate Fair Value of Warrant Liability

To calculate the fair value of the warrant liability, the following assumptions were used for the periods presented:

 

 

 

December 31,
2022

 

 

June 30,
2022

 

Risk-free interest rate

 

 

4.7

%

 

 

2.8

%

Expected life (years)

 

 

0.4

 

 

 

0.9

 

Expected volatility

 

 

101.7

%

 

 

139.4

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Black-Scholes Fair Value

 

$

 

 

$

0.10

 

Schedule of Changes in Estimated Fair Value of Warrant Liability

The following table sets forth a summary of changes in the estimated fair value of our Level 3 warrant liability for the six months ended December 31, 2022 and 2021 (in thousands):

 

 

 

Fair Value of Warrants Using Significant Unobservable Inputs (Level 3)

 

 

 

2022

 

 

2021

 

Balance at July 1,

 

$

1,603

 

 

$

22,355

 

Change in estimated fair value of liability classified warrants

 

 

(1,603

)

 

 

(8,046

)

Balance at December 31,

 

$

 

 

$

14,309