Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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	June 30, 2023			December 31, 2022
Risk-free rate	4.69		%	1.11		%
Remaining term in years	2.47			3.98
Expected volatility	80.1		%	88.8		%
Exercise price	$	11.50		$	11.50
Fair value of common stock	$	0.81		$	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 June 30, 2023
(Amounts in thousands)	Level I		Level II		Level III		Total
Asset:
Interest rate swaps	$	—	$	35,458	$	—	$	35,458
Liabilities:
Debt	$	—	$	613,364	$	—	$	613,364
Private Warrants	—		—		109		109
Total	$	—	$	613,364	$	109	$	613,473

	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:
Debt	$	—	$	499,755	$	—	$	499,755
Private Warrants	—		—		256		256
Fair value of obligation to issue shares of common stock to sellers of World Energy	—		—		151		151
Total	$	—	$	499,755	$	407	$	500,162

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

The following is a rollforward of the Company’s Level 3 liability instruments:

	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
(Amounts in thousands)
Balance at the beginning of the period	$	142	$	407
Fair value adjustments – warrant liability	(33)		(147)
Share settlement of World Energy liability	—		(151)
Balance at the end of the period	$	109	$	109