XML 56 R32.htm IDEA: XBRL DOCUMENT

Merger (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of transaction funding, sources and uses of cash, and merger related earn-outs and warrants (Detail)

The following summarizes the elements of the Merger to the consolidated Statement of Cash Flows, including the transaction funding, sources and uses of cash (in thousands):


	As of June 30, 2023
Cash - GSR II Meteora Acquisition Corp Trust	$	332,102
Less: GSRM transactions cost paid from Trust(1)		(25,958	)
Less: Purchase of BT HoldCo common units from BT Assets		(10,066	)
Less: Redemptions of existing shareholders of GSRM		(292,735	)
Net proceeds from GSRM shareholders		3,343
Assumed net liabilities from GSRM, excluding net cash proceeds		(6,850	)
Net Impact of the Merger on the Statement of Changes in Stockholders’ and Member's Equity	$	(3,507	)

(1)

Transaction costs paid from the GSRM trust account include $18.7 million of non-redemption payments, $4.9 million of other transaction-related expenses and $2.4 million of franchise and income taxes, all of which were recorded by GSRM.

Schedule of Fees and Expenses Related to PIPE Activity

The following table presents fees and expenses related to the PIPE for the three and nine months ended September 30, 2023 (in thousands).


	Three Months Ended		Nine Months Ended
	September 30, 2023
Establishment of PIPE	$	-	$	8,636
Expenses associated with the PIPE		-		945
Change in fair value of derivative		2,700		2,700
Total	$	2,700	$	12,281