| Schedule of assumptions |
| Schedule of assumptions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level in |
|
June 30, 2022 |
|
|
December 31, 2021 |
|
| |
|
Fair Value |
|
Carrying |
|
|
Fair |
|
|
Carrying |
|
|
Fair |
|
| |
|
Hierarchy |
|
Amount |
|
|
Value |
|
|
Amount |
|
|
Value |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
1 |
|
$ |
36,305 |
|
|
$ |
36,305 |
|
|
$ |
62,937 |
|
|
$ |
62,937 |
|
| Restricted cash |
|
1 |
|
|
51 |
|
|
|
51 |
|
|
|
185 |
|
|
|
185 |
|
| Cash and investment in severance benefit accounts |
|
1 |
|
|
3,514 |
|
|
|
3,514 |
|
|
|
3,687 |
|
|
|
3,687 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subordinated term loan(a) |
|
2 |
|
$ |
39,706 |
|
|
$ |
26,436 |
|
|
$ |
37,991 |
|
|
$ |
28,376 |
|
| Subordinated debt(a) |
|
2 |
|
|
10,844 |
|
|
|
7,470 |
|
|
|
10,577 |
|
|
|
7,674 |
|
| Senior term loan(a) |
|
2 |
|
|
41,036 |
|
|
|
39,829 |
|
|
|
41,063 |
|
|
|
43,276 |
|
| Convertible debt |
|
2 |
|
|
42,605 |
|
|
|
45,952 |
|
|
|
41,343 |
|
|
|
44,494 |
|
| Public Warrants |
|
1 |
|
|
1,380 |
|
|
|
1,380 |
|
|
|
8,510 |
|
|
|
8,510 |
|
| Warrants(b) |
|
3 |
|
|
499 |
|
|
|
499 |
|
|
|
1,317 |
|
|
|
1,317 |
|
| |
(a) |
As of June 30, 2022 and
December 31, 2021, the fair value of the subordinated term loan, subordinated debt and senior term loan considered the senior status
of the senior term loan under the Fortress Credit Agreement, followed by the junior status of the subordinated term loan and subordinated
debt. The implied yields of the subordinated term loan, subordinated debt and senior term loan were 21.53%, 21.83% and 17.8%, respectively,
as of June 30, 2022 and 17.16%, 16.83% and 13.8%, respectively, as of December 31, 2021. |
| |
(b) |
As of June 30, 2022 and
December 31, 2021, the fair value of warrants outstanding that are classified as liabilities are included in other long-term liabilities
in the Company’s condensed consolidated balance sheets. The key inputs to the valuation models that were utilized to estimate
the fair value of the Post-Combination Warrants and Private Placement Warrants as of June 30, 2022 were as follows: |
|
| Schedule of warrants |
| Schedule of warrants |
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Warrants |
|
|
Conversion option derivative |
|
|
Call and contingent put derivative |
|
| |
|
|
|
|
|
|
|
|
|
| Beginning balance, December 31, 2021 |
|
$ |
1,317 |
|
|
$ |
1,343 |
|
|
$ |
1,651 |
|
| Change in fair value |
|
|
(818 |
) |
|
|
4,570 |
|
|
|
(559 |
) |
| Ending balance, June 30, 2022 |
|
$ |
499 |
|
|
$ |
5,913 |
|
|
$ |
1,092 |
|
|