Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS – OPERATING ACTIVITIES    
Net loss $ (17,327) $ (6,361)
Adjustments required to reconcile cash flows used in operating activities:    
Depreciation and amortization 229 223
Stock-based compensation 177 175
Amortization of debt issuance costs 68
Finance expense (income), net (456) (123)
Changes in other liabilities (2) 4
Loss from change in fair value of Private Placement Warrants 8,010
Private Placement Warrants issuance cost 732
Changes in operating assets and liabilities:    
Other current and non-current assets 562 (174)
Trade accounts payable (1,775) 363
Other accounts payable (122) 806
Net change in operating leases (1,384) (26)
Net cash used in operating activities (11,356) (5,045)
CASH FLOWS – INVESTING ACTIVITIES    
Cash and Restricted Cash acquired from the APT acquisition 663
Proceeds from short-term deposits 2,000
Purchases of property and equipment (10)
Net cash provided by investing activities 663 1,990
CASH FLOWS – FINANCING ACTIVITIES    
Issuance of Private Placement Warrants under March 2024 PIPE 28,745
Issuance of Redeemable Convertible Preferred Shares under March 2024 PIPE 21,269
March 2024 PIPE issuance costs (316)
Issuance of Common Stock and Warrants under PIPE 1,469
Pre-Funded Warrants exercise 5
Issuance of Common Stock under Open Market Sales Agreement, net of issuance costs 19
Repayment of long-term debt (10,747) (419)
Net cash provided by financing activities 38,975 1,050
Increase(decrease) in cash and cash equivalents and restricted cash 28,282 (2,005)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (31) 13
Cash and cash equivalents and restricted cash at the beginning of the period 15,864 32,294
Cash and cash equivalents and restricted cash at the end of the period 44,115 30,302
RECONCILIATION OF AMOUNTS ON CONSOLIDATED BALANCE SHEETS    
Cash and cash equivalents 43,007 29,346
Restricted cash 1,108 956
Total cash and cash equivalents and restricted cash 44,115 30,302
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 1,419 495
Taxes paid 3 6
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING ACTIVITIES:    
Issuance costs from PIPE included in trade accounts payable 176
Property and equipment purchases included in accounts payable and Trade payable 17
Issuance cost from March 2024 PIPE 1,826
Issuance cost from the APT acquisition 62  
Issuance of Common Stock under the APT acquisition 3,041
Issuance of Redeemable Convertible Preferred Shares under the APT acquisition 12,610
Issuance of Merger Warrants under the APT acquisition $ 200