XML 87 R24.htm IDEA: XBRL DOCUMENT v3.22.0.1
Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events

NOTE 17. SUBSEQUENT EVENTS

On January 10, 2022, the Company entered into an Securities Purchase Agreement (“SPA”) with Disior LTD. (“Disior”) and completed an acquisition of substantially all of the operating and intangible assets of Disior, for total cash consideration of $18,000 at closing. The SPA also provided for potential earn-out consideration to the Seller in connection with the achievement of certain project milestones with various expiration dates through the second anniversary of the Closing Date. The earn-out has a maximum payment not to exceed $8,000, in the aggregate. If an individual milestone is not met by the specified milestone expiration date, the earn-out related to that specific milestone will not be paid. The acquisition was primarily funded by a $20,000 draw on the Company's term loan. The initial accounting for this acquisition was not complete at the time the financial statements were issued due to the timing of the acquisition. As a result, disclosures required for business combinations are not possible at this time.

On January 4, 2022 the Company closed on the purchase of its Headquarters located at 14445 Grasslands Drive, Englewood, CO for a purchase price of $18,300. Prior to the closing, the Company had leased the building from AMBAR Grasslands LLC (the “Seller”). The Company intends to finance a portion of the price paid for the Headquarters at a later date, subject to market conditions.