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Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of September 30, 2023 (Successor) and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine each asset's and each liability's fair value:

Assets						Level 1						Level 2						Level 3						Total
Short-term Investments						$	—					$	100,000					$	—					$	100,000
Total						$	—					$	100,000					$	—					$	100,000
Liabilities						Level 1						Level 2						Level 3						Total
Public Warrants						$	37,420					$	—					$	—					$	37,420
Private Placement Warrants						—						—						103,114						103,114
Earnout Shares						—						—						4,546						4,546
Total						$	37,420					$	—					$	107,660					$	145,080

The following table presents information about the Company’s liabilities that were measured at fair value on a recurring basis as of December 31, 2022 (Predecessor) and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine each liability's fair value:

Liabilities						Level 1						Level 2						Level 3						Total
Option Liability						$	—					$	—					$	5,174					$	5,174
Total						$	—					$	—					$	5,174					$	5,174

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents a reconciliation of the beginning and ending balances of recurring level 3 fair value measurements:

						July 1 – September 30, 2023 (Successor)			July 1 – September 30, 2022 (Predecessor)						June 8 – September 30, 2023 (Successor)			January 1 – June 7, 2023 (Predecessor)			January 1 - September 30, 2022 (Predecessor)
Balance of recurring level 3 liabilities at beginning of period						$	63,187		$	1,854					$	63,851		$	5,174		$	1,459
Total gains and losses during the period included in    Other Income (Expense)						52,352			—						51,688			—			395
Issuances						(7,879)			—						(7,879)			—			—
Payments						—			—						—			(5,174)			—
Transfers into level 3						—			—						—			—			—
Transfers out of level 3						—			—						—			—			—
Balance of recurring level 3 liabilities at end of period						$	107,660		$	1,854					$	107,660		$	—		$	1,854

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- References

No definition available.

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- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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