Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (47,661) $ (5,620)
Adjustments to reconcile net loss to net cash used in operating activities    
Loss on private warrants revaluation (6,435) 0
Share-based compensation 35,093 523
Depreciation and amortization 7,489 2,788
Deferred income taxes (11,423) 0
Loss on write-off of deferred loan costs 1,900 0
Amortization of debt issuance costs and debt discounts 337 1,367
Single lease cost (benefit) (942) 354
Gain on forgiveness of debt (1,776) 0
Other 183 (9)
Interest incurred but not paid 0 610
Changes in operating assets and liabilities, net of effects of aquisitions:    
Accounts receivable, net (6,331) (2,629)
Inventories (9,471) (6,168)
Prepaid expenses and other current assets (1,194) (3,454)
Contract assets (1,578) (584)
Other assets 40 0
Accounts payable 887 2,388
Accrued and other long-term liabilities (4,338) 1,763
Unearned revenue and contract liabilities (2,221) (1,744)
Net cash used in operating activities (47,441) (10,415)
Cash flows from investing activities    
Purchases of property, plant and equipment (96,798) (25,178)
Acquisition of Novomer, net of cash acquired 151,179 0
Proceeds from sale of property, plant, and equipment 340 9
Net cash used in investing activities (247,637) (25,169)
Cash flows from financing activities    
Proceeds from exercise of warrants, net of issuance costs 138,196 0
Proceeds from exercise of stock options 2,676 331
Proceeds from long-term debt 169 4,416
Proceeds from employee stock purchase plan 106 0
Proceeds from issuance of common stock, net of issuance costs (892) 29,002
Cash paid for debt issuance costs (1,691) (95)
Principal payments on long-term debt (27,086) (1,198)
Net cash (used in) provided by financing activities 111,478 32,456
Net decrease in cash and cash equivalents and restricted cash (183,600) (3,128)
Cash and cash equivalents and restricted cash    
Cash and cash equivalents and restricted cash-beginning of period 379,897 9,278
Cash and cash equivalents and restricted cash-end of period 196,297 6,150
Supplemental cash flow information    
Cash paid for interest, net of interest capitalized 375 628
Cash paid for operating leases 2,380 2,103
Supplemental non-cash disclosure    
Changes in accounts payable and accrued liabilities related to purchase of property, plant and equipment $ 9,880 $ (5,070)