XML 41 R29.htm IDEA: XBRL DOCUMENT
v3.24.3

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Assets Measured at Fair Value on a Recurring Basis | The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2024 (Successor), and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
(dollars in thousands) | Public Warrants (Level 1) |  | Senior Secured Term Loan (Level 2) |  | Private Placement Warrants (Level 3) |  | Working Capital Warrants (Level 3) |  | Total Liabilities Fair Value
Fair value as of February 14, 2024 (Successor) | $ | 39,962 |  |  | $ | 761,401 |  |  | $ | 19,813 |  |  | $ | — |  |  | $ | 821,176 |
Additions | — |  |  | 9,801 |  |  | — |  |  | 10,283 |  |  | 20,084 |
Change in valuation inputs or other assumptions | (2,875) |  |  | — |  |  | 550 |  |  | 562 |  |  | (1,763) |
Fair Value as of March 31, 2024 (Successor) | 37,087 |  |  | 771,202 |  |  | 20,363 |  |  | 10,845 |  |  | 839,497 |
Additions | — |  |  | 19,175 |  |  | — |  |  | — |  |  | 19,175 |
Change in valuation inputs or other assumptions | 24,294 |  |  | — |  |  | 37,839 |  |  | 19,045 |  |  | 81,178 |
Fair value as of three months ended June 30, 2024 (Successor) | 61,381 |  |  | 790,377 |  |  | 58,202 |  |  | 29,890 |  |  | 939,850 |
Additions | — |  |  | 24,044 |  |  | — |  |  | — |  |  | 24,044 |
Transfer out of Level 3 | 19,938 |  |  | — |  |  | (19,938) |  |  | — |  |  | — |
Liabilities removed due to warrant exercises | (69,123) |  |  | — |  |  | — |  |  | — |  |  | (69,123) |
Change in valuation inputs or other assumptions | 103,677 |  |  | — |  |  | 53,394 |  |  | 21,128 |  |  | 178,199 |
Fair value as of September 30, 2024 (Successor) | $ | 115,873 |  |  | $ | 814,421 |  |  | $ | 91,658 |  |  | $ | 51,018 |  |  | $ | 1,072,970 |
Summary of Level 3 Inputs to Determine Fair Value | The following table provides quantitative information regarding Level 3 inputs used to determine the fair values of Private Placement Warrants held by FL Co-Investment and Intrepid Financial Partners as of September 30, 2024 (Successor).
Inputs | September 30, 2024 (Successor)
Stock price | $ | 23.63 |
Strike price | $ | 11.50 |
Term (in years) | 1.4
Volatility | 50.0 | %
Risk-free rate | 3.78 | %
Dividend yield | 0.00 | %
The following table provides quantitative information regarding Level 3 fair value measurements used to determine the fair value of the Working Capital Warrants and the Private Placement Warrants, excluding Private Placement Warrants held by FL Co-Investment and Intrepid Financial Partners, as of September 30, 2024 (Successor).
Inputs | September 30, 2024 (Successor)
Stock price | $ | 23.63 |
Strike price | $ | 11.50 |
Term (in years) | 4.38 |
Volatility | 50.0 | %
Risk-free rate | 3.52 | %
Dividend yield | 0.00 | %

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration