Quarterly report pursuant to Section 13 or 15(d)

Mergers and Acquisitions (Tables)

v3.22.2.2
Mergers and Acquisitions (Tables)
9 Months Ended
Sep. 30, 2022
Mergers and Acquisitions (Details) [Line Items]  
Schedule of preliminary fair value of even financial's acquired assets and liabilities assumed

 

 

February 17,

 

 

 

2022

 

Assets

 

 

 

Cash and cash equivalents

 

$

4,501

 

Enterprise receivables

 

 

9,863

 

Property and equipment

 

 

441

 

Intangible assets

 

 

190,320

 

Goodwill

 

 

109,375

 

Other assets

 

 

3,354

 

Total assets

 

 

317,854

 

Liabilities and Equity

 

 

 

Liabilities:

 

 

 

Accounts payable and accrued liabilities

 

 

9,258

 

Deferred tax liability

 

 

34,720

 

Other liabilities

 

 

2,846

 

Total liabilities

 

 

46,824

 

Net assets and liabilities acquired

 

$

271,030

 

 

 

November 15,

 

 

 

2021

 

Assets

 

 

 

Cash and cash equivalents

 

$

51

 

Property and equipment

 

 

1,281

 

Intangible assets

 

 

17,780

 

Goodwill

 

 

30,976

 

Other assets

 

 

4,858

 

Total assets

 

$

54,946

 

Liabilities and Equity

 

 

 

Liabilities:

 

 

 

Accounts payable and accrued liabilities

 

$

2,261

 

Total liabilities

 

 

2,261

 

Equity:

 

 

 

Additional paid-in capital

 

 

52,685

 

Total equity

 

 

52,685

 

Total liabilities and equity

 

$

54,946

 

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 the Private Placement Warrants:

 

 

 

September 30,

 

 

 

2022

 

Strike price

 

$11.50

 

Expected Volatility

 

 

82

%

Expected Dividend - MoneyLion Class A Common Stock

 

 

 

Expected Term in Years

 

 

3.98

 

Risk Free Interest Rate

 

 

4.16

%

Warrant Value Per Share

 

 

0.12

 

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

The Company’s pro forma revenue and net loss for the three and nine months ended September 30, 2022 and 2021 below have been prepared as if Even Financial had been purchased on January 1, 2021. The Company made certain pro forma adjustments related to amortization of intangible assets, intercompany activity and interest expense.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenue

 

$

88,748

 

 

$

61,253

 

 

$

254,901

 

 

$

154,052

 

Net loss

 

$

(21,017

)

 

$

(29,834

)

 

$

(58,430

)

 

$

(159,410

)

Even Financial [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:

 

 

September 30,

 

 

 

2022

 

Expected Volatility

 

 

103

%

Expected Dividend - MoneyLion Class A Common Stock

 

 

 

Expected Term in Years

 

 

5.00

 

Risk Free Interest Rate

 

 

4.01

%

MALKA Media Group LLC [Member] | Restricted Shares Based on 2021 and 2022 Operating Performance  
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 restricted shares payable based on 2021 and 2022 operating performance:

 

 

September 30,

 

 

 

2022

 

Expected Volatility

 

 

119

%

Expected Dividend - MoneyLion Class A Common Stock

 

 

 

Risk Free Interest Rate

 

 

3.27

%