General form of registration statement for all companies including face-amount certificate companies

Fair Value Measurements and Hierarchy (Tables)

v3.23.1
Fair Value Measurements and Hierarchy (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Fair Value Disclosures [Abstract]    
Schedule of fair value hierarchy for financial liabilities

    

Level 1

    

Level 2

    

Level 3

    

Total

(in thousands)

Warrant liability as of March 31, 2023

$

844

$

$

24

$

868

Warrant liability as of December 31, 2022

$

1,477

$

$

40

$

1,517

 
Schedule of Fair Value Measurement Inputs and Valuation Techniques

    

March 31, 2023

    

December 31, 2022

 

Volatility

 

73.0

%  

55.0

%

Risk-free interest rate

 

3.8

%  

4.1

%

Exercise price

$

11.50

$

11.50

Expected term

 

3.7

years

 

3.9

years

 
Schedule of changes in the fair value

Three Months Ended March 31,

    

2023

    

2022

(in thousands)

Beginning balance

$

40

$

502

Mark-to-market adjustment

 

(16)

 

(19)

Ending balance

$

24

$

483

    

Successor

 

  

Predecessor

    

Year

    

December 3, 2021

  

  

Ended

through

December

December 31,

January 1, 2021

31, 2022

2021

through

(Private

(Private

December 2, 2021

Placement

Placement

(Class D

Warrants)

Warrants)

Warrants)

Beginning balance

$

502

$

793

$

6,316

Mark-to-market adjustment of stock warrants

(462)

 

(291)

 

7,665

Ending balance

$

40

$

502

$

13,981