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Fair Value of Financial Instruments (FY) (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Fair Value of Financial Instruments [Abstract]    
Available-for-Sale Marketable Securities Measured at Fair Value on Recurring Basis

The available-for-sale marketable securities primarily consist of investment-grade, U.S.-dollar-denominated fixed and floating rate debt, measured at fair value on a recurring basis.

 
September 30, 2023
December 31, 2022
(in thousands)
Fair Value
Level 1
Fair Value
Level 1
Marketable securities
$0
$0
$569
$569

The available-for-sale marketable securities primarily consist of investment-grade, U.S. dollar-denominated fixed and floating-rate debt, measured at fair value on a recurring basis.

 
2022
2021
(Dollars in thousands)
Fair Value
Level 1
Fair Value
Level 1
Marketable securities
$569
$569
$15,463
$15,463
Roll-Forward of Fair Value of Level 3 Warrants

The following is a roll-forward of the fair value of the Level 3 warrants:

(in thousands)
 
Balance at December 31, 2022
$6,868
Change in fair value
755
Balance at January 4, 2023 (revaluation date)
7,623
Warrants reclassified to equity
(7,623)
Balance at September 30, 2023
$

The following is a roll-forward of the fair value of Level 3 warrants:

(in thousands)
 
October 18, 2022 warrant issuance
$18,695
Change in fair value
(11,827)
Ending balance December 31, 2022
$6,868
Fair Value Assumptions  

Fair values were calculated using the following assumptions:

 
Oct. 18, 2022
Dec. 31, 2022
Risk-free interest rates, adjusted for continuous compounding
4.16%
3.97%
Term (years)
6.18
6.11
Expected volatility
141.5%
145.3%
Dates and probability of future equity raises
various
various