Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of fair values private warrants were valued using a black-scholes model

The Private Warrants were valued using a Black-Scholes model, pursuant to the inputs provided in the table below:

	Assumptions for Assets and Liabilities Measured at Fair Value on a Recurring Basis
Input	March 31, 2023			December 31, 2022
Risk-free rate	3.88		%	1.11		%
Remaining term in years	2.73			3.98
Expected volatility	70.5		%	88.8		%
Exercise price	$	11.50		$	11.50
Fair value of common stock	$	0.82		$	3.31

Schedule of assets and liabilities which are measured at fair value on a recurring basis

The following table sets forth the Company’s assets and liabilities which are measured at fair value on a recurring basis by level within the fair value hierarchy:

	Fair Value Measurements as of March 31, 2023
(Amounts in thousands)	Level I		Level II		Level III		Total
Asset:
Interest rate swaps	$	—	$	27,737	$	—	$	27,737
Liability:
Private Warrants	$	—	$	—	$	142	$	142

	Fair Value Measurements as of December 31, 2022
(Amounts in thousands)	Level I		Level II		Level III		Total
Asset:
Interest rate swaps	$	—	$	32,252	$	—	$	32,252
Liabilities:
Private Warrants	$	—	$	—	$	256	$	256
Fair value of obligation to issue shares of common stock to sellers of World Energy	—		—		151		151
Total	$	—	$	—	$	407	$	407

Schedule of roll forward of the Company’s Level 3 instruments

The following is a roll forward of the Company’s Level 3 instruments:

	For the Three Months Ended March 31, 2023
(Amounts in thousands)	Liability
Balance, December 31, 2022	$	407
Fair value adjustments – Warrant liability	(114)
Share settlement of World Energy Liability	(151)
Balance, March 31, 2023	$	142