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

CONSOLIDATED BALANCE SHEETS

v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 02, 2021
Dec. 31, 2020
Current Assets          
Unrestricted $ 7,183,000 $ 17,537,000 $ 140,478,000 $ 5,301,000  
TOTAL CURRENT ASSETS 109,370,000 100,692,000 199,861,000    
TOTAL ASSETS 867,422,000 876,571,000 [1] 2,364,109,000 [1]    
Current liabilities          
Accrued expenses 21,330,000 16,647,000      
TOTAL CURRENT LIABILITIES 269,661,000 241,664,000 198,773,000    
TOTAL LIABILITIES 396,384,000 [2] 353,912,000 [1],[2] 299,940,000 [1]    
COMMITMENTS AND CONTINGENCIES    
Stockholders' (Deficit) Equity          
Additional paid-in capital 316,061,000 315,375,000 312,946,000    
Accumulated deficit (318,770,000) (309,545,000) (39,418,000)    
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY (2,685,000) 5,854,000 273,552,000    
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS' (DEFICIT) EQUITY 867,422,000 876,571,000 2,364,109,000    
Foresight Acquisition Corp          
Current Assets          
Unrestricted       100,935 $ 179,512
Prepaid expenses       355,188  
TOTAL CURRENT ASSETS       456,123 179,512
Deferred offering costs         215,448
Cash and securities held in Trust Account       316,267,136  
TOTAL ASSETS       316,723,259 394,960
Current liabilities          
Accrued expenses       21,284,300 2,286
Accrued offering costs       15,450 94,960
Advance from related parties       150,000  
Promissory note - related party         275,000
TOTAL CURRENT LIABILITIES       21,449,750 372,246
Warrant liabilities       13,213,259  
TOTAL LIABILITIES       34,663,009 372,246
COMMITMENTS AND CONTINGENCIES      
Stockholders' (Deficit) Equity          
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued and outstanding      
Additional paid-in capital         24,209
Accumulated deficit       (34,190,624) (2,286)
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY       (34,189,750) 22,714
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS' (DEFICIT) EQUITY       316,723,259 394,960
Class A Common Stock          
Stockholders' (Deficit) Equity          
Common stock 4,000 4,000 $ 4,000    
Class A Common Stock | Foresight Acquisition Corp          
Stockholders' (Deficit) Equity          
Common stock       874  
Class A Common Stock subject to possible redemption | Foresight Acquisition Corp          
Current liabilities          
Class A common stock subject to possible redemption, 31,625,000 and no shares at redemption value as of December 2, 2021 and December 31, 2020, respectively       $ 316,250,000  
Common Class B          
Stockholders' (Deficit) Equity          
Common stock $ 20,000 $ 20,000      
Common Class B | Foresight Acquisition Corp          
Stockholders' (Deficit) Equity          
Common stock         $ 791
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 23: Variable Interest Entities, P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and numbers below refer only to VIEs held at the P3 LLC level. The consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $3.1 million and $8.1 million as of December 31, 2022 and 2021, respectively, and total liabilities of P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $9.9 million and $6.1 million as of December 31, 2022 and 2021, respectively. These VIE assets and liabilities do not include $33.0 million of net amounts due to affiliates as of December 31, 2022 and $6.0 million of investment in affiliates and $24.1 million of amounts due to affiliates as of December 31, 2021 as these are eliminated in consolidation and not presented within the consolidated balance sheets.
[2] The Company’s condensed consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 13 “Variable Interest Entities,” P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and amounts below refer only to VIEs held at the P3 LLC level. The condensed consolidated balance sheets include total assets that can be used only to settle obligations of the P3 LLC’s VIEs totaling $2.0 million and $3.1 million as of March 31, 2023 and December 31, 2022, respectively, and total liabilities of the P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $16.8 million and $9.9 million as of March 31, 2023 and December 31, 2022, respectively. These VIE assets and liabilities do not include $31.4 million and $33.0 million of net amounts due to affiliates as of March 31, 2023 and December 31, 2022, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets. See Note 13 “Variable Interest Entities.”