Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 2022

Fair Value Measurements

Schedule of company's assets and liabilities that are measured at fair value on a recurring basis

The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of October 31, 2022 and are categorized using the fair value hierarchy (in thousands):

	Level 2		Level 3
Description	Measurements		Measurements		Total
Asset classified interest rate swaps	$	5,249	$	—	$	5,249
Liability classified warrants		—		2,119		2,119
Total assets and liabilities recorded at fair value	$	5,249	$	2,119	$	7,368

A summary of liability classified warrants is as follows (in thousands, except per share amounts):

	Underlying
	Common	Strike		Redemption	Expiration	Fair Value at
Type	Shares	Price		Price	Date	October 31, 2022
Private Placement Warrants – Sponsor	16,300	$	11.50	None	6/11/26	$	2,119

	Total		(Level 3)
Private Placement Warrants – Sponsor	$	2,119	2,119
Total liabilities recorded at fair value	$	2,119	2,119

Schedule of assumptions valuing warrants classified as liabilities

	October 31, 2022
Risk-free interest rates		4.35	%
Expected dividend yield		—
Volatility factor		60.0	%
Expected lives (years)		3.6
Value per unit	$	0.13

Schedule of reconciliation of Level 3 instruments

The following tables reconcile Level 3 instruments for which significant unobservable inputs were used to determine fair value:

	For the Three
	Months Ended
	October 31, 2022
Balance as of July 31, 2022 (Successor)	$	11,247
Unrealized gains recognized as other income		(9,128)
Balance as of October 31, 2022 (Successor)	$	2,119
	For the Nine
	Months Ended
	October 31, 2022
Balance as of January 31, 2022 (Successor)	$	28,199
Unrealized losses recognized as other income		(26,080)
Balance as of October 31, 2022 (Successor)	$	2,119