Company: GROVW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025541
Chunk: 201

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 201
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 the Equity Purchase Agreement. As a result, unless the Company’s stock price exceeds $15.33, the Company will be unable to sell the remaining full commitment to Yorkville without seeking stockholder approval to issue additional shares in excess of the Exchange Cap. The purchase price per share for Class A common stock will be 97.55% of the Volume-Weighted Average Price (“VWAP”) of the Company’s Class A common stock over the Pricing Period, as defined by the agreement. The Company deferred $0.7 million of transaction costs related to the SEPA and will offset these costs against proceeds of any sales under the SEPA. As of March 31, 2025, the Company has sold 147,965 shares under the SEPA for total gross proceeds of $2.4 million. Issuance costs related to these shares are not material. As of March 31, 2025, there were 6,363,567 shares available to be sold to Yorkville under the Exchange Cap.

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Table of ContentsGrove Collaborative Holdings, Inc.Notes to Condensed Consolidated Financial Statements (continued)(Unaudited)

 Reserved for IssuanceThe Company has the following shares of common stock reserved for future issuance, on an as-if converted basis: March 31, 2025December 31, 2024Class A Common StockClass A Common StockClass B Common StockPrivate Placement Warrants1,340,000 1,340,000 — Public Warrants1,460,146 1,460,146 — Backstop Warrants775,005 775,005 — Shares issuable upon conversion of redeemable convertible preferred stock12,500,097 12,500,097 — Other outstanding common stock warrants473,895 362,000 111,895 Outstanding stock options1,651,999 930,956 776,494 Outstanding restricted stock units5,762,789 4,656,655 1,000 Shares available for issuance under 2022 Equity Incentive Plan5,651,716 5,182,186 — Shares available for issuance under 2022 Employee Stock Purchase Plan1,244,004 846,157 — Total shares of common stock reserved30,859,651 28,053,202 889,389 

9.    Redeemable Convertible Preferred Stock

On August 11,