Business Combination (Tables)
12 Months Ended
Dec. 31, 2021
Business Combination, Description [Abstract]  
Summary of net proceeds from the Business Combination
The following table summarizes the elements of the net proceeds from the Business Combination as of December 31, 2021 (in thousands):
 
Cash – Blue Water Trust Account and cash (net of redemptions)
   $ 25,394  
Less: Equity issuance costs and other costs paid
     (8,385
    
 
 
 
Net Proceeds from the Business Combination
   $ 17,009  
    
 
 
 
Summary of common stock issued in consummation of business combination The following table summarizes the number of shares of Common Stock outstanding immediately following the consummation of the Business Combination:
 
Blue Water shares outstanding prior to the Business Combination
     3,839,469  
Conversion of Legacy Clarus Series D Preferred Stock
     4,901,564  
Conversion of Legacy Clarus convertible notes
     8,529,846  
Conversion of additional capital provided by Legacy Clarus convertible note and senior note holders
     2,549,938  
Conversion of Senior Secured Note principal and royalty rights
     1,905,000  
    
 
 
 
Total shares of the Company’s common stock outstanding immediately following
the Business Combination
     21,725,817  
    
 
 
 
Summary of impact of the transaction on the condensed consolidated statement of stockholder's equity
The following table summarizes the impact of the transaction on the consolidated statement of stockholder’s deficit as of September 9, 2021:
 
Conversion of senior notes and royalty obligation carrying value
   $ 28,254  
Conversion of Legacy Clarus convertible notes carrying value
     103,267  
Conversion of Series D redeemable convertible preferred stock carrying value

 
 
209,290
 
Assumption of warrant liabilities
     (14,075
    
 
 
 
Total reverse recapitalization impact on statement of equity
   $ 326,736