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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Under Topic 606, revenue from the sale of medicinal and adult-use cannabis and derivative products has a single performance obligation and revenue is recognized at the point in time when control of t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2022 and 2021, respectively, and is included in “Other current liabilities” on the accompanying Consolidated Balance Sheets.
Equity-Based Payments
Ascend Wellness Holdings, Inc. issues equity-... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, except for voting and conversion rights. As the liquidation and dividend rights... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
end Wellness Holdings, Inc.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit data)
Basic EPS is computed by dividing net income (loss) by the weighted-average... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
vested restricted stock units, in addition to stock options that are outstanding in the current year. Potential dilutive securities in the prior years include incremental shares of common stock issua... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
risk of forfeiture if the vesting conditions for such shares are not met, and are included in the number of shares of Class A common stock outstanding disclosed on the cover page of this Annual Repo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, the FASB issued ASU 2020-06,
Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Conver... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Freestanding Equity-Classified Written Call Options
In May 2021, the FASB issued ASU 2021-04,
Earnings Per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
equity classified after modification or exchange. ASU 2021-04 became effective for us on January 1, 2022 and did not have a significant impact on our consolidated financial statements upon adoption.... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Instruments
, (“ASU 2016-13”). ASU 2016-13 replaces the existing guidance surrounding measurement and recognition of credit losses on financial assets measured at amortized cost, including trade re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Topic 326): Targeted Transition Relief
, was issued in May 2019 to provide target transition relief allowing entities to make an irrevocable one-time election upon adoption of the new credit losses ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, was issued in March 2020 to improve and clarify various financial instruments topics, including the CECL standard issued in 2016. The ASU includes seven different issues that describe the areas of ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
new loan or a continuation of an existing loan. The amendments in this ASU also enhance disclosure requirements about loan modifications for borrowers experiencing financial difficulty and also requ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
rate expected to be discontinued because of reference rate reform. This guidance was effective upon issuance as of March 12, 2020 and could be adopted as reference rate reform activities occurred th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit data)
3. REPORTABLE SEGMENTS AND REVENUE
Ascend Wellness Holdings, Inc. operates under one operating segment,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.
Year Ended December 31,
(in thousands)
2022
2021
2020
Retail revenue
305,935
231,930
103,859
Wh... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
805”) and are accounted for by applying the acquisition method, whereby the assets acquired and the liabilities assumed are recorded at their fair values with any excess of the aggregate considerati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2, the Company acquired Marichron Pharma LLC (“Marichron”), a medical cannabis processor in Ohio, for total consideration of $2,600, consisting of cash consideration of $1,750, of which $1,500 was pr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
License(1)
1,260
Goodwill(2)
804
Net assets acquired
2,600
Consideration transferred:
Cash
250
Settlement of note and working capital loan(3)
2,500
Settlement of pre-acquisition amounts
(... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$1,500 due under a promissory note and settlement of $1,000 due under a working capital line of credit. See Note 6, “Notes Receivable” for additional information regarding these note agreements.
20... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, the Company completed the acquisition of BCCO, LLC (“BCCO”), a medical dispensary license holder in Ohio. Total consideration of $5,561 consisted of a cash payment of $1,995, settlement of $1,750 d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$3,652 at issuance. Acquisition-related costs incurred during the year ended December 31, 2021 were not material.
126
Ascend Wellness Holdings, Inc.
Notes to Consolidated Financial Statements
(i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Property and equipment(1)
153
657
288
Other noncurrent assets
License(2)
6,928
1,797
8,342
Goodwill(3)
3,039
1,381
7,221
Accounts payable and accrued liabilities
(12)
(218)
(1)
Def... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
1)
Consists of furniture, fixtures and equipment of $162 and leasehold improvements of $936.
(2)
The amortization period for acquired licenses is 10 years.
(3)
Goodwill is largely attributable t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,” for additional information.
(4)
Total cash consideration includes a $4,712 sellers’ note for Hemma that was paid in December 2021, and a $7,471 sellers’ note for OCC that was paid in 2022. See N... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Per the terms of the agreement with OCC, the number of shares issued was based on $3,798 divided by the volume weighted-average price per share of the Class A common stock as reported on the CSE for... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Marichron
Revenue, net
701
7,196
5,371
122
Net income (loss)
(1,962)
1,547
635
22
Year Ended December 31, 2021
(in thousands)
Hemma
BCCO
OCC
Revenue, net
236
1,771
159
Net income ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
our 2020 acquisitions from their respective acquisition dates. We acquired MOCA LLC (“MOCA”) effective August 1, 2020, which was consolidated as a VIE from the signing date until the final close dat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
thousands)
MOCA
GCC
Midway
MOCA
GCC
Midway
Revenue, net
43,193
10,326
22,895
13,011
1,687
747
Net income (loss)
5,576
(955)
(714)
304
657
61
The table below summarizes the unaud... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
results do not reflect the cost of integration activities or benefits from expected revenue enhancements and synergies. Accordingly, the unaudited pro forma information is not necessarily indicative... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, Inc.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit data)
Asset Acquisitions
Ascend Wellness Holdings, Inc. determined the acquisitions below did not mee... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the acquisition method described above for business combinations, except that no goodwill is recognized. To the extent there is a difference between the purchase consideration, including the estimat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company began to amortize the license when operations commenced during the fourth quarter of 2022.
(in thousands)
Equity Consideration(1)
42,957
Cash consideration
10,170
Geisinger funding com... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in April 2023 and is included within “Accounts payable and other accrued liabilities” on the Consolidated Balance Sheet at December 31, 2022. An additional annual payment is due from the third anniv... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Holdings, Inc.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit data)
December 31, 2022 and a total of $943 is due, in quarterly payments, through June 2023 ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a definitive agreement (the “Ohio Agreement”) that provides the Company the option to acquire 100% of the equity of Ohio Patient Access LLC (“OPA”), the holder of a license that grants it the right ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
under which the Company will provide management and advisory services to OPA for a set monthly fee. The parties also entered into a working capital loan agreement under which the Company may, at its... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-out payment amount, or portion thereof, divided by the thirty-day volume weighted average price of the Class A shares immediately preceding the date the earn-out provision is achieved. If the seller... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-current liabilities” on the accompanying Consolidated Balance Sheet at December 31, 2022. The $234 change in fair value is included within “General and administrative expenses” on the Consolidated S... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Consolidated Statements of Operations for the year ended December 31, 2022. Refer to Note 8, “Variable Interest Entities,” for additional information regarding the Company’s VIEs.
130
Ascend Welln... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of the license acquired. Of the total cash consideration, $3,000 was paid at signing and $2,500 is due at final closing and is included as a sellers’ note within “Long-term debt, net” on the accompa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ated Balance Sheet at December 31, 2022. Direct transaction expenses were immaterial.
The licenses acquired will be amortized in accordance with the Company’s policy once the related operations comm... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
MMNY - working capital loan(1)
2,422
2,422
Other(2)
1,001
500
Marichron - note receivable(3)
1,500
Marichron - working capital loan(3)
78
Total
3,423
4,500
(1)
On February 25, 2021, t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
provide MMNY with additional funding for operations in conjunction with the Investment Agreement. Borrowings do not bear interest, but may be subject to a financing fee. The outstanding balance is d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
outstanding balance of $500 at December 31, 2021. Repayment was due at maturity in November 2023 or upon an event of default (as defined in the bridge loan agreement). In April 2022, the Company acq... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of 11.5%. Following the opening of the borrower’s retail dispensary, the principal amount is due monthly through the maturity date of May 25, 2026. The borrower may prepay the outstanding principal ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
into a working capital line of credit with Marichron, allowing for maximum borrowings of $1,000. The promissory note and working capital line of credit were issued in conjunction with a unit purchas... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
were recognized during the year ended December 31, 2022, 2021, or 2020.
132
Ascend Wellness Holdings, Inc.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
accumulated depreciation
46,302
21,329
Property and equipment, net
279,860
239,656
In June 2022, the Company entered into a master lease agreement under which we may lease equipment pursuant t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2022, which is included within “General and administrative expenses” on the Consolidated Statements of Operations, and wrote-off a total of $401 of accumulated depreciation.
8. VARIABLE INTEREST... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
intercompany balances and activity that eliminate in consolidation.
In December 2022, following regulatory approvals for the title transfer of certain licenses, Ascend Illinois (including its subsi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
assets
24,675
171,566
Current liabilities
1,675
71,264
Noncurrent liabilities
126,397
Equity (deficit) attributable to AWH
(588)
41,873
Year Ended December 31,
2022
2021
2020
(in thou... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
32,206
(588)
36,152
15,961
(16,684)
(1)
Effective July 30, 2020, the Company purchased the non-controlling interests of Ascend Illinois. Subsequent to this transaction, there were no non-con... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
thereby making AWH the majority member, retaining 99.9% of the membership interests in Ascend Michigan. Following this assignment, Ascend Michigan is no longer considered a VIE.
Effective July 30, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2019
1,046
Changes in ownership
(2,644)
Net income
1,598
Balance, December 31, 2020
134
Ascend Wellness Holdings, Inc.
Notes to Consolidated Financial Statements
(in thousands, except p... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,415)
In-place leases
(12,754)
(10,558)
Trade names
(380)
(380)
(26,169)
(16,353)
Total intangible assets, net(1)
221,093
59,271
(1)
These intangible assets are being amortized over the ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, and $350 during
the year
ended December 31, 2022, 2021, and 2020, respectively.
At December 31, 2022 and 2021, $1,101 and $502, respectively, of amortization expense remained capitalized as part... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
23,468
(1)
These amounts could vary as acquisitions of additional intangible assets occur in the future or due to changes in anticipated commencement of operations for certain locations.
135
As... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, “Acquisitions,” for additional information.
10. LEASES
The components of lease assets and lease liabilities and their classification on our Consolidated Balance Sheets were as follows:
December ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Long-term debt, net
695
Total lease liabilities
233,351
199,960
The components of lease costs and classification within the Consolidated Statements of Operations were as follows:
Year Ended D... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
expenses” on the accompanying Consolidated Statements of Operations.
136
Ascend Wellness Holdings, Inc.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit dat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2,540
2,615
Sublease income generated during the year ended December 31, 2022, 2021, and 2020 was immaterial.
The following table includes supplemental cash and non-cash information related to our... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the weighted-average remaining lease term and discount rate:
December 31,
2022
2021
Weighted-average remaining term (years)
Operating leases
15.1
15.8
Finance leases
3.7
Weighted-average d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Lease Liabilities
2023
33,879
315
2024
34,833
315
2025
35,812
315
2026
36,428
195
2027
37,380
Thereafter
441,121
Total lease payments
619,453
1,140
Less: imputed interest
387,00... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
total amount of ROU lease assets and lease liabilities of approximately $1,900.
Lease Amendments
In March 2022, we amended the leases related to our Athol, Massachusetts and Lansing, Michigan cult... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,000, which resulted in increased rent amounts. We accounted for the amendment as a lease modification and remeasured the ROU asset and liability as of the amendment date, which resulted in an additi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
on the accompanying Consolidated Balance Sheets.
(in thousands)
2023
2024
2025
2026
2027
Thereafter
Total
Cash payments due under financing liabilities
2,308
2,416
2,525
2,599
2,676
9... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of $33,707 and an ROU asset of $29,107, which was recorded net of a $4,600 tenant improvement allowance
In October 2022, the Company sold and subsequently leased back certain real estate and relate... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,750
Finance leases
902
Total debt
340,972
266,866
Current portion of debt
11,347
27,980
Less: unamortized deferred financing costs
18
40
Current portion of debt, net
11,329
27,940
Lon... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
full. The 2021 Credit Agreement provided for an expansion feature that allowed the Company to request an increase in the term loan outstanding up to $275,000 if the then-existing lenders (or other l... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and does not require scheduled principal amortization payments. Borrowings under the 2021 Credit Facility bear interest at a rate of 9.5% per annum, payable quarterly and, as to any portion of the t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
paid prior to February 27, 2023 (which did not occur), (b) a prepayment premium equal to 4.75% of the principal amount prepaid if paid after February 27, 2023 but prior February 27, 2024, and (c) a ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
its liquidity (defined as unrestricted cash and cash equivalents pledged under the 2021 Credit Facility plus any future revolving credit availability) to be below $20,000 as of the last day of any f... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
covenants as of December 31, 2022.
The 2021 Credit Agreement requires the Company to make certain representations and warranties and to comply with customary covenants, including restrictions on th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$7,606 related to the 2022 Loans, which includes warrants issued to certain lenders to acquire 3,130 shares of Class A common stock that had a fair value of $2,639 at issuance (refer to Note 12, “St... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, capital expenditures, and other strategic initiatives.
The 2022 Loans were funded by a combination of new and existing lenders. Borrowings from the existing lenders were accounted for as a modific... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
unit data)
debt, net at December 31, 2022. The $11,000 OPA sellers’ note was recorded net of an initial discount of $3,010 that was calculated as of the transaction date utilizing the Company’s est... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
debt, net” respectively.
Financing Agreement
In December 2022, the Company received $19,364 pursuant to a financing agreement with a third-party lender (the “Financing Agreement”), which is includ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and the discount is being accreted to interest expense over an expected term. Ascend Wellness Holdings, Inc.’s obligations under the Financing Agreement will be satisfied upon receipt of the ERTC Cl... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
initial term loan under the 2021 Credit Facility to repay certain then-outstanding debt obligations, as further described below.
Ascend Wellness Holdings, Inc. prepaid $11,624 of principal outstand... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
recorded as a discount to the notes, and was being amortized to interest expense over the exercise term of three years. In April 2021, these warrants were cancelled in exchange for a payment of $4,1... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and had an interest rate of 10% per annum that was paid monthly. Ascend Wellness Holdings, Inc. previously prepaid $500 of principal due under this note in January 2021, without penalty. The prepaym... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ible Promissory Notes”). Each note had an interest rate of 8% for the first twelve months, 10% for months thirteen through fifteen, and 13% thereafter through maturity. Interest was to be paid-in-kin... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of securities issued on the basis of a price equal to the lesser of: (a)(i) a 20% discount to the issue price if an initial public offering occurred on or before 12 months from each note issuance; (... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ory Notes, plus accrued interest thereon, automatically converted into 8,910 shares of Class A common stock based on a conversion price of $6.00 per share in accordance with the terms of the agreemen... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(1)
Certain cash payments include an interest accretion component. The timing of certain payments may vary based on regulatory approval of the underlying transactions.
The table above excludes the ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Interest on finance leases
43
Non-cash interest related to beneficial conversion feature(3)
27,361
Total
32,436
63,989
12,993
(1)
The amount recorded for the year ended December 31, 2021 inc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
except per share or per unit data)
12. STOCKHOLDERS’ EQUITY
Holders of each share of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to 1,0... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2026, the final conversion date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
any contractual limitations, such as our credit agreements, the holders of our common stock will be entitled to receive dividends out of funds then legally available, if any, if our board of directo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
holders after the payment of all our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock.
In the e... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Notes to Consolidated Financial Statements
(in thousands, except per share or per unit data)
total of 26,221 shares of Class A common stock. The additional 3,420 shares issued per the conversion fe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Class A common stock and Class B common stock outstanding as of December 31, 2022 and 2021:
December 31,
(in thousands)
2022
2021
Shares of Class A common stock
187,999
171,521
Shares of Cla... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-Average Exercise Price
Weighted-Average Remaining Exercise Period(years)
Aggregate Intrinsic Value(in thousands)(2)
Balance, December 31, 2020
4,625
3.81
2.4
Cancelled(3)
(1,094)
3.20
Bala... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the referenced dates. No intrinsic value is presented when the fair value of the warrants outstanding does not exceed the exercise price for the referenced dates.
(3)
(4)
In June 2022, in connect... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022 Warrants had a total estimated fair value of $2,639 at issuance, which was calculated using a Black-Scholes model and included significant assumptions such as volatility of 70% and a risk-free r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to customary anti-dilution adjustments, are stand-alone instruments, and are not part of the notes with which they were issued.
13. EQUITY-BASED COMPENSATION EXPENSE
Equity Incentive Plans
2020 E... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
over two or three years. The estimated fair value of the Awards at issuance is recognized as compensation expense over the related vesting period. Upon adoption of the 2020 Plan, a total of 1,619 in... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, 2020
7,280
Granted
50
Vested(1)
(5,543)
Forfeited
(134)
Unvested, December 31, 2021
1,653
Vested
(995)
Forfeited
(41)
Unvested, December 31, 2022
617
(1)
Includes 126 vested restri... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to Consolidated Financial Statements
(in thousands, except per share or per unit data)
2021 Equity Incentive Plan
In July 2021, the Company adopted a new stock incentive plan (the “2021 Plan”), p... |
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