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Stockholders' Equity and Members Units Including Redeemable Convertible Class P Units (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Schedule of Stock by Class | At September 22, 2021, the following summarizes the Company’s units authorized, issued and outstanding:
| Units authorized |  | Units issued and outstanding
Class F Units | 50,954,445 |  | 50,232,863
Class P Units | 33,162,444 |  | 32,435,595
Class M Units | 7,791,744 |  | 3,904,237
The following summarizes the capitalization and voting rights of the Company’s classes of equity as of December 31, 2021:
| Authorized |  | Issued & Outstanding |  | Votes per share |  | Economic Rights
Preferred stock | 10,000,000 |  | None |  |  |  |
Common stock: |  |  |  |  |  |  |
Class A | 1,200,000,000 |  | 9,614,523 |  | 1 |  | Yes
Class B | 150,000,000 |  | 35,658,013 |  | 1 |  | No
Class C | 150,000,000 |  | 49,505,250 |  | 10 |  | No
Class D | 150,000,000 |  | None |  | 10 |  | Yes
Common stock reserved for issuances: |  |  |  |  |  |
Conversion of LLC Units |  |  | 85,163,263 |  |  |  |
Unvested LLC Units |  |  | 1,901,977 |  |  |  |
Unvested RSUs |  |  | 1,377,728 |  |  |  |
Stock options |  |  | 1,449,181 |  |  |  |
Common LLC Units |  |  | 85,163,263 |  | No |  | Yes
Schedule of Stockholders' Equity Note, Warrants or Rights | Warrants for Class P Units consisted of the following as of September 22, 2021:
Number of units under warrants | Issue date |  | Expiration date |  | Exercise price |  | Fair value per warrant on issue date
497,292 |  | 9/30/2019 |  | 9/30/2029 |  | $3.52 |  | $0.17
37,297 |  | 12/17/2020 |  | 12/17/2030 |  | $6.70 |  | $0.01
534,589 |  |  |  |  |  |  |  |
Schedule of Class of Warrant or Right, Valuation Assumptions | The quantitative information about certain significant Level 3 unobservable inputs for the three valuation methods and for Black-Scholes are summarized as follows:
| Periods ended
| September 22, |  | December 31,
| 2021 |  | 2020 |  | 2019
Guideline company and transaction analysis: |  |  |  |  |
Control premium | 20.00% |  | 20.00% |  | 20.00%
Discounted cash flow analysis: |  |  |  |  |
Discount rate | 22.00% |  | 22.00% to 25.00% |  | 25.00%
Option pricing model inputs for warrants and Class M Units: |  |  |  |  |
Volatility | 40.00% |  | 45.00% |  | 35.00%
Time to Liquidity in years | 0.8 to 1.0 |  | 1.2 to 1.5 |  | 2.4
Risk free rate | 0.07% |  | 0.10% |  | 1.60%
Discount for lack of marketability | 7.50% to 10.00% |  | 12.00% to 15.00% |  | 18.00%
Class of Warrant Or Right Fair Value Amounts | The fair value amounts using Level 3 inputs from January 1, 2019 through September 22, 2021 were as follows (in thousands):
| Class P Unit redemption value |  | Class P Unit warrant liability
Balance, January 1, 2019 | $ | 62,579 |  |  | $ | — |
Increase/decrease | 18,250 |  |  | 83 |
Balance, December 31, 2019 | 80,829 |  |  | 83 |
Special distributions to members | (10,000) |  |  | — |
Net income allocable to Class P Units | 3,997 |  |  | — |
Increase/decrease | (8,499) |  |  | 1 |
Balance, December 31, 2020 | 66,327 |  |  | 84 |
Tax distributions to members | (9,755) |  |  | — |
Net income allocable to Class P Units prior to the Reorganization Transaction and IPO | 5,466 |  |  | — |
Increase/decrease | 327,189 |  |  | 6,331 |
Reorganization Transactions | (389,227) |  |  | (6,415) |
Balance, September 22, 2021 | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21553-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21488-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21484-112644 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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