Acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of recognized identified assets acquired and liabilities assumed

The following purchase price allocation table presents the Company's estimates of the fair value of assets acquired and liabilities assumed as of the Adamas Closing Date, and subsequent measurement period adjustments recorded during the year ended December 31, 2022 (dollars in thousands):


	As Initially Reported		Measurement Period Adjustments(1)		As Adjusted
Cash and cash equivalents	$	90,064	$	—	$	90,064
Accounts receivable	11,156		—		11,156
Inventories(4)	20,200		(914)		19,286
Prepaid expenses and other current assets	5,077		—		5,077
Property and equipment	1,254		—		1,254
Intangibles(4)	450,100		400		450,500
Other assets(2)	6,442		(1,620)		4,822
Total fair value of assets acquired	584,293		(2,134)		582,159
Accounts payable	(4,592)		—		(4,592)
Accrued expenses and other current liabilities	(8,014)		—		(8,014)
Current debt	(138,315)		—		(138,315)
Operating lease liabilities, long-term	(5,224)		—		(5,224)
Deferred income tax liabilities(2)(3)(4)	(56,588)		2,631		(53,957)
Total fair value of liabilities assumed	(212,733)		2,631		(210,102)
Total identifiable net assets	371,560		497		372,057
Goodwill	39,553		(497)		39,056
Total purchase price	$	411,113	$	—	$	411,113

Cash consideration paid	$	400,806	$	—	$	400,806
Fair value of contingent consideration	10,307		—		10,307
Total purchase price	$	411,113	$	—	$	411,113

(1) Measurement period adjustments reflect changes for the year ended December 31, 2022 based on information related to the facts and circumstances that existed as of the Closing Date.

(2) Refinement of the estimate of fair value of the right of use asset associated with the acquired Adamas headquarters lease recorded in the first quarter of 2022. Refer to Note 13, Leases.

(3) Represents tax impact for the changes in fair value estimate of the right of use asset. inventory and intangible assets, and changes made to finalize the accounting of certain state tax attributes which existed at the opening balance sheet date.

(4) Represents adjustment to the fair value of inventory acquired which correspondingly increased the fair value of intangible assets.

Finite-lived and indefinite-lived intangible assets acquired as part of business combination


	Estimated Fair Value		Estimated Useful Life as of Closing Date (in years)
Acquired developed technology and property rights	$	450,500	3.1 - 8.1

Business acquisition, pro forma information


	Year Ended December 31,
	2021		2020
	(unaudited)
Pro forma total revenues	$	663,729	$	594,858
Pro forma net loss	$	(28,040)	$	(16,186)