v3.23.1
DESCRIPTION OF BUSINESS (Tables)
 12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Consolidated Statements of Cash Flows and the Condensed Consolidated Statements of Convertible Redeemable Preferred Stock
The following table reconciles the elements of the Business Combination to the consolidated statements of cash flows and the consolidated statements of convertible redeemable preferred stock and stockholders’ deficit for the twelve months ended December 31, 2022:
 
    
Recapitalization
  
Cash – SWAG trust and cash, net of redemptions
      58,841  
Cash – PIPE equity financing
      1,052  
Less: Transaction and advisory fees paid in cash
      (54,409 ) 
Less: Cash election consideration paid in cash at the Closing Date
      (4,109 ) 
    
 
 
  
Net proceeds from Business Combination
      1,375  
Plus: Issuance of common stock to settle certain transaction costs
      3,588  
Less:
non-cash
items charged against additional
paid-in
capital
      (17,510 ) 
Less: Deferred cash election consideration (Note 9)
      (9,198 ) 
    
 
 
  
Net contributions from Business Combination and PIPE equity financing
      (21,745 ) 
    
 
 
  
Schedule of Common Shares Outstanding
The number of shares of Common Stock outstanding immediately following the consummation of the Business Combination was as follows:
 
    
Number of
Shares
  
SWAG Common Stock, outstanding prior to the Business Combination
      28,509,835  
Less: Redemption of SWAG shares
      (17,021,595 ) 
    
 
 
  
SWAG Common Stock
      11,488,240  
Shares issued in PIPE equity financing
      517,079  
Shares issued to financial advisors to settle transaction and issuance costs
      407,500  
    
 
 
  
Business Combination and PIPE equity financing shares
      12,412,819  
Nogin shares
      54,281,476  
    
 
 
  
Total shares of common stock immediately after Business Combination
      66,694,295