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Arq Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 Pro Forma Revenues | Since Legacy Arq had no revenues for the nine months ended September 30, 2023, pro forma revenues are the same as the Company's reported revenues for that period.
(in thousands) |  | Nine Months Ended September 30, 2023
Revenues |  | $ | 71,079 |
Net loss |  | $ | (12,100) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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