Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2.2
Fair Value Measurements (Tables)
9 Months Ended
Oct. 31, 2022
Fair Value Measurements  
Schedule of company's assets and liabilities that are measured at fair value on a recurring basis

The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of October 31, 2022 and are categorized using the fair value hierarchy (in thousands):

Level 2

Level 3

Description

Measurements

Measurements

Total

Asset classified interest rate swaps

$

5,249

$

$

5,249

Liability classified warrants

2,119

2,119

Total assets and liabilities recorded at fair value

$

5,249

$

2,119

$

7,368

A summary of liability classified warrants is as follows (in thousands, except per share amounts):

Underlying 

Common 

Strike 

Redemption 

Expiration 

Fair Value at 

Type

    

Shares

    

Price

    

Price

    

Date

    

October 31, 2022

Private Placement Warrants – Sponsor

 

16,300

$

11.50

 

None

6/11/26

$

2,119

    

Total

    

(Level 3)

Private Placement Warrants – Sponsor

$

2,119

 

2,119

Total liabilities recorded at fair value

$

2,119

 

2,119

Schedule of assumptions valuing warrants classified as liabilities

October 31, 2022

Risk-free interest rates

4.35

%

Expected dividend yield

 

Volatility factor

60.0

%

Expected lives (years)

 

 

3.6

Value per unit

$

0.13

Schedule of reconciliation of Level 3 instruments

The following tables reconcile Level 3 instruments for which significant unobservable inputs were used to determine fair value:

For the Three

Months Ended

    

October 31, 2022

Balance as of July 31, 2022 (Successor)

$

11,247

Unrealized gains recognized as other income

 

(9,128)

Balance as of October 31, 2022 (Successor)

$

2,119

For the Nine

Months Ended

    

October 31, 2022

Balance as of January 31, 2022 (Successor)

$

28,199

Unrealized losses recognized as other income

 

(26,080)

Balance as of October 31, 2022 (Successor)

$

2,119