Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 203

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 203
---
 was closed by California state regulators and the FDIC was appointed as receiver. Subsequently, on March 31, 2023, the Company fully repaid all borrowings and accrued interest under the 2022 SVB Credit Agreement and terminated the 2022 SVB Credit Agreement. In accordance with the terms of the 2022 SVB Credit Agreement, the Company was required to pay a prepayment premium equal to 1.0% of the principal balance on the date of repayment. During the nine months ended September 30, 2023, the Company incurred a loss on debt extinguishment of $0.6 million, consisting of the prepayment penalty of $0.3 million and the write-off of $0.3 million of unamortized debt issuance costs. The Company had no long-term debt as of September 30, 2024 and December 31, 2023.

12. Stock-Based Compensation

Stock OptionsThe following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the nine months ended September 30, 2024 and 2023:Nine Months Ended September 30,20242023Risk-free interest rate4.1%4.2%Expected term (in years)6.16.1Expected volatility90.0%87.5%Expected dividend yield0.0%0.0%The following table summarizes the Company’s stock option activity since December 31, 2023 (in thousands, except for share and per share data):Number ofSharesWeightedAverageExercise PriceOutstanding as of December 31, 202320,324,528$1.04 Granted2,725,6253.63 Exercised(2,001,136)0.58 Forfeited(15,447)0.42 Expired(69,816)0.74 Outstanding as of September 30, 202420,963,754$1.42 

F-28

Table of ContentsEVOLV TECHNOLOGIES HOLDINGS, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

Restricted Stock UnitsThe following table summarizes the Company's restricted stock units activity since December 31, 2023:Number ofSharesGrant Date FairValueNonvested as of December 31, 202313,046,679 $3.49