Related-Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Related-Party Transactions

Related-Party Transactions

Subsequent to the Company's acquisitions of Fair Share, G3, Tom's Amusements and AVG, the sellers became employees of the Company.

Consideration payable to the Fair Share seller was $2.4 million and $1.6 million as of December 31, 2021 and 2020, respectively. Payments to the Fair Share seller under the acquisition agreement were $1.0 million for the year ended December 31, 2021 and $0.9 million for both of the years ended December 31, 2020 and 2019.

Consideration payable to the G3 sellers was $0.4 million and $0.5 million as of December 31, 2021 and 2020, respectively. Payments to the G3 seller under the acquisition agreement were $0.3 million, $2.5 million, and $0.4 million during the years ended December 31, 2021, 2020 and 2019, respectively.

Consideration payable to the Tom's Amusements seller was $1.5 million as of December 31, 2021 and 2020, respectively. There were no payments made to the Tom's Amusements seller for the years ended December 31, 2021and 2020.

Consideration payable to the AVG seller was $0.4 million and $1.5 million as of December 31, 2021 and 2020, respectively. Payments to the AVG seller under the acquisition agreement were $2.3 million for the year ended December 31, 2021. There were no payments to the AVG seller during the year ended December 31, 2020.

The Company engaged Much Shelist, P.C. (“Much Shelist”), as its legal counsel for general legal and business matters. An attorney at Much Shelist is a related party to management of the Company. For the years ended December 31, 2021, 2020, and 2019, Accel paid Much Shelist $0.2 million, $0.1 million, and $0.6 million, respectively. These payments were included in general and administrative expenses within the consolidated statements of operations and comprehensive income (loss), however, $0.2 million of the amounts paid in the fourth quarter of 2020 were recorded to additional paid-in capital as these costs were determined to be direct and incremental for the reverse recapitalization discussed in Note 3.

As previously mentioned, the Company completed an underwritten public offering of 8,000,000 shares of its Class A-1 common stock, pursuant to the terms of an Underwriting Agreement, dated September 23, 2020, with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein. The Raine Group, which employs a director of the Company, Gordon Rubenstein, was part of the underwriting group and was paid fees totaling $0.2 million (5.5% of underwriting fee which was 4.5% of $84 million). These payments were capitalized to additional paid-in-capital on the consolidated statements of stockholders' equity (deficit). The Raine Group also provided investment banking services and assisted the Company in the negotiations and consummation of the reverse recapitalization. The Company paid $11 million to the Raine Group in 2019.

Throughout the third quarter of 2019, one of the Company’s Class A Common Stockholders made payments on behalf of the Company directly to the Company’s independent registered public accounting firm for services rendered to the Company during the same period totaling $2.9 million. Such amounts are included as a component of other expenses, net in the Company’s consolidated statements of operations and comprehensive income (loss) and contributed capital in the consolidated statement of stockholders’ equity (deficit).