Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 10,326 $ 13,666
Restricted cash 6,569 11,272
Accounts receivable, net 3,078 2,691
Inventory, net 4,210 3,594
Prepaid expenses and other current assets 2,805 2,881
Total current assets 26,988 34,104
Property and equipment, net 313,166 157,844
Operating lease right-of-use assets 172 137
Goodwill 0 38,481
Intangible assets, net 41,353 47,273
Other assets 73 901
Total assets 381,752 278,740
Current liabilities    
Accounts payable 14,640 13,757
Accrued liabilities 17,204 9,426
Operating lease liabilities 97 84
Total current liabilities 31,941 23,267
Long-term debt, net of debt issuance costs 277,985 119,814
Financing obligation 49,225 14,139
Operating lease liabilities, noncurrent 114 187
Warrant liability 7,214 0
Total liabilities 366,479 157,407
Commitments and contingencies (Note 16)
Stockholders' equity    
Common stock, $0.0001 par value, 400,000,000 shares authorized, 8,311,229 and 7,976,980 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively(1) [1] 1 1
Additional paid-in capital 318,600 300,645
Accumulated deficit (303,328) (179,313)
Total stockholders' equity 15,273 121,333
Total liabilities and stockholders' equity $ 381,752 $ 278,740
[1] Prior comparative period share amounts issued and outstanding have been retroactively adjusted to reflect the June 15, 2023 Reverse Stock Split (as defined below). See Note 12, Stockholders' Equity, for additional detail.