Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 260

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 260
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 Common Stock and Warrants. As the number of outstanding Public Warrants and Private Placement Warrants did not change as a result of the reverse split, five Public Warrants or five Private Placement Warrants must be bundled together to receive one share of the Company’s Class A Common Stock. As of June 30, 2025, the Public Warrants and Private Placement Warrants had a nominal value. The Private Placement Warrants and Public Warrants are classified as Level 3 and their value was determined by using a Black-Scholes Model with the following assumptions for the date indicated:June 30,2025December 31,2024Fair value of common stock$1.15$1.40Exercise Price$57.50$57.50Risk-free interest rate3.72%4.26%Expected term (in years)2.042.50Volatility71.66%79.86%Dividend yield—— The Earn-Out Shares are classified as Level 3 and their fair values were estimated using a Monte Carlo options pricing model utilizing assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimated the expected volatility assumption using an average of the implied volatility of its common stock and an implied volatility based on its peer companies. The following tables set forth the Company’s financial instruments that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands):June 30, 2025Level 1Level 2Level 3TotalFinancial Assets:Cash equivalents: Money market funds$8,180 $— $— $8,180 Total$8,180 $— $— $8,180 Financial Liabilities:Earn-Out Shares$— $— $1,060 $1,060 Total$— $— $1,060 $1,060 

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

December 31, 2024Level 1Level 2Level 3TotalFinancial Assets:Cash equivalents: Money market funds$17,625 $— $— $17,625 Total$17,625 $— $— $17,625 Financial Liabilities:Earn-Out Shares$— $— $1,257 $1,257 Public Warrants—