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Share-Based Payments (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Payment Arrangement, Option, Activity | The following table presents a summary of employee equity awards comprised of Class A OpCo Units and the corresponding quantity of shares of Class B Common Stock outstanding, granted, forfeited, vested on an accelerated basis and redeemed included in the condensed consolidated statements of operations and comprehensive loss for the following periods:
|  | Quantity |  | Calculated Value
|  | January 1 - June 30, 2024 (Successor) |  | June 8 - June 30, 2023 (Successor) |  |  | January 1 - June 7, 2023 (Predecessor) |  | January 1 - June 30, 2024 (Successor) |  | June 8 - June 30, 2023 (Successor) |  |  | January 1 - June 7, 2023 (Predecessor)
Unvested, beginning of period |  | 848,415 |  | 1,895,179 |  |  | 226,494 |  | $ | 5.21 |  |  | $ | 13.06 |  |  |  | $ | 63.25 |
Granted |  | — |  | — |  |  | — |  | $ | — |  |  | $ | — |  |  |  | $ | — |
Forfeited |  | — |  | (324,625) |  |  | — |  | $ | — |  |  | $ | 10.82 |  |  |  | $ | — |
Vested |  | (570,675) |  | — |  |  | (107,418) |  | $ | 4.99 |  |  | $ | — |  |  |  | $ | 63.18 |
Accelerated |  | (36,070) |  | (451,356) |  |  | — |  | $ | 5.66 |  |  | $ | 15.05 |  |  |  | $ | — |
Unvested, end of period |  | 241,670 |  | 1,119,198 |  |  | 119,076 |  | $ | 6.50 |  |  | $ | 12.91 |  |  |  | $ | 63.32 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | The following table presents a summary of RSU activity during the period from January 1, 2024 through June 30, 2024 (Successor):
|  | Quantity |  | Fair Value
Unvested, beginning of period |  | 443,221 |  |  | $ | 13.13 |  |
Granted |  | 1,778,072 |  |  | $ | 11.11 |  |
Forfeited |  | (15,361) |  |  | $ | 12.27 |  |
Vested |  | — |  |  | $ | — |  |
Accelerated |  | (14,875) |  |  | $ | 12.91 |  |
Unvested, end of period |  | 2,191,057 |  |  | $ | 11.60 |  |
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions | The assumptions used to calculate the fair value of these awards were:
Weighted average expected life | 3 years
Risk-free interest rates | 4.4 | %
Expected volatility | 68.0 | %
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The fair value of the Company’s stock option grants was estimated utilizing the following assumptions:
Weighted average expected life | 3.35 years
Risk-free interest rates | 4.27 | %
Expected volatility | 80 | %
Share-Based Payment Arrangement, Performance Shares, Activity | The following table p resents a summary of PSU activity as of June 30, 2024 and the changes during the period from January 1, 2024 through June 30, 2024 (Successor):
|  | Quantity |  | Fair Value
Unvested, beginning of period |  | — |  |  | $ | — |  |
Granted |  | 127,710 |  |  | 16.24 |  |
Forfeited |  | — |  |  | — |  |
Vested |  | — |  |  | — |  |
Unvested, end of period |  | 127,710 |  |  | $ | 16.24 |  |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The following table displays the fair value of shares distributed as payment for services rendered by BHES under the terms of the BHES JDA during the periods described below:
|  | Quantity |  | Total Fair Value |  |
|  | January 1 - June 30, 2024 (Successor) |  | June 8 - June 30, 2023 (Successor) |  |  | January 1 - June 7, 2023 (Predecessor) |  | January 1 - June 30, 2024 (Successor) |  | June 8 - June 30, 2023 (Successor) |  |  | January 1 - June 7, 2023 (Predecessor) |  | Equivalent Value per Unit or per Share (1)
Membership Interests |  | — |  | — |  |  | 9,210 |  | $ | — |  |  | $ | — |  |  |  | $ | 1,943 |  |  | $ | 168.75 |
Class A OpCo Units |  | 1,592,425 |  | 22,447 |  |  | 296,160 |  | 10,526 |  |  | 148 |  |  |  | 1,958 |  |  | $ | 5.29 |
Class B Common Stock |  | 1,592,425 |  | 22,447 |  |  | 296,160 |  | — |  |  | — |  |  |  | — |  |  | $ | — |
Total |  |  |  |  |  |  |  |  | $ | 10,526 |  |  | $ | 148 |  |  |  | $ | 3,901 |  |  |
___________ (1) The Equivalent Value per Unit is the discounted price per membership interest or per share stipulated in the BHES JDA. The following table disaggregates the variable compensation payable to BHES should it meet its milestone objectives:
|  | Performance Period End Date |  | Compensation Cost Incurred To Date |  | Remaining Compensation Cost |  | Total Compensation Cost
BHES JDA - variable share-based payments |  | January 2027 |  | $ | 22,387 |  |  | $ | 4,958 |  |  | $ | 27,345 |

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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