Arq Acquisition (Tables)

6 Months Ended

Jun. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Final Purchase Price Allocation to the Assets Acquired and Liabilities Assumed

The following table provides the final purchase price allocation to the assets acquired and liabilities assumed as of the Acquisition Date:


(in thousands)	Purchase Price Allocation
Fair value of assets acquired:
Cash	$	1,411

Prepaid expenses and other current assets	2,229
Restricted cash, long-term	814
Property, plant and equipment, net	39,159
Other long-term assets, net	11,717
Amount attributable to assets acquired	55,330

Fair Value of liabilities assumed:
Accounts payable and accrued expenses	9,806
Current portion of long-term debt	494
Other current liabilities	103
Long-term debt, net of current portion	9,199
Other long-term liabilities	4,523
Amount attributable to liabilities assumed	24,125

Net assets acquired	$	31,205

The following represents the intangible asset identified as part of the Arq Acquisition and which is included in "Other long-term-assets, net" in the table above:


(in thousands)	Amount		Weighted Average Useful Life (years)

Developed technology	$	7,700	20

Schedule of Revenues and Net Loss for Arq

The amounts of year to date revenues and net loss for Arq for the period from the Acquisition Date to June 30, 2023 are as follows:


	Six Months Ended June 30,
(in thousands)	2023
Revenues	$	—
Net loss	$	(6,756)

Schedule of Pro Forma Revenues

Since Arq had

no revenues for the six months ended June 30, 2023 or 2022, pro forma revenues are the same as the Company's reported revenues for those periods.


	Six Months Ended June 30,
(in thousands)	2023		2022
Revenues	$	41,250	$	51,141
Net loss	$	(9,925)	$	(38,965)