4 unchanged sentences
We accrue for losses when the loss is deemed probable and the liability can reasonably be estimated.
−Removed: On or around March 30, 2023, the Company received a letter from counsel for Alta Partners, LLC (“Alta”), which purports to be a holder of certain Public Warrants of the Company (“Demand Letter”).
−Removed: The Demand Letter alleges that the Company breached the terms of the Warrant Agreement, and that Alta is entitled to approximately $5.7 million in damages, plus prejudgment interest, as a result.
−Removed: On April 20, 2023, counsel for the Company responded to the Demand Letter, denying that any breach occurred or that Alta is entitled to any damages (“Response Letter”).
−Removed: The Company continues to deny liability and will defend vigorously against any claims.
Information in response to this Item is included in “Part II — Item 8.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.