MoneyLion Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Mergers and Acquisitions (Tables)

Mergers and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Mergers and Acquisitions (Details) [Line Items]

Schedule of fair value of even financial inc.'s acquired assets and liabilities assumed

The fair value of Even Financial Inc.’s acquired assets and liabilities assumed were as follows:


	February 17,
	2022
Assets
Cash and cash equivalents	$	4,501
Enterprise receivables		9,863
Property and equipment		441
Intangible assets		182,640
Goodwill		111,474
Other assets		3,354
Total assets		312,273
Liabilities
Accounts payable and accrued liabilities		9,258
Deferred tax liability		29,073
Other liabilities		2,846
Total liabilities		41,177
Net assets and liabilities acquired	$	271,096

Schedule of changes in the liability related to the Earnout and Preferred Stock Equivalents

The following table presents the changes in the liability related to the Earnout and Preferred Stock Equivalents:


				Preferred Stock
	Earnout			Equivalents
Balance as of December 31, 2022	$	6,946		$	1,997
Change in fair value of contingent consideration		(5,047	)		(1,386	)
Settlement of contingent consideration		(1,899	)		(611	)
Balance as of December 31, 2023	$	—		$	—

Summary of Quantitative Information and Certain Assumptions Regarding Level 3 Fair Value Measurement

The following table presents the quantitative information regarding Level 3 fair value measurement of warrants:


	December 31,
	2022
Strike price(1)	$345.00
Expected Volatility		79	%
Expected Dividend - Class A Common Stock		—
Expected Term in Years		3.73
Risk Free Interest Rate		4.14	%
Warrant Value Per Share(1)	$18.60

(1)

Prior period results have been adjusted to reflect the Reverse Stock Split of the Class A Common Stock at a ratio of 1-for-30 that became effective April 24, 2023. See Note 1, “Description of Business and Basis of Presentation,” for details.

Schedule of the company's pro forma revenue and net loss

The Company’s pro forma revenue and net loss for the twelve months ended December 31, 2022 below have been prepared as if Even Financial Inc. had been purchased on January 1, 2022. The Company made certain pro forma adjustments related to amortization of intangible assets, intercompany activity and interest expense.


	Twelve Months Ended December 31, 2022
	(unaudited)
Revenue	$	349,844
Net loss	$	(193,495	)

ML Enterprise [Member] | Earnout and Preferred Stock Equivalents [Member]

Mergers and Acquisitions (Details) [Line Items]

Summary of Quantitative Information and Certain Assumptions Regarding Level 3 Fair Value Measurement

The following table presents the quantitative information and certain assumptions regarding Level 3 fair value measurement of the Earnout and Preferred Stock Equivalents:


	December 31,
	2022
Expected Volatility		105	%
Expected Dividend - Class A Common Stock		—
Expected Term in Years		5.00
Risk Free Interest Rate		3.93	%