Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Measurements

Summary of the fair value of financial instruments

	March 31, 2024
(Thousands)	Level 1		Level 2		Level 3		Total
Assets:
Green coffee associated with forward contracts	$	—	$	27,017	$	—	$	27,017
Coffee futures contracts		2,772		—		—		2,772
Forward purchase and sales contracts		—		12,652		—		12,652
Total	$	2,772	$	39,669	$	—	$	42,441
Liabilities:
Forward purchase and sales contracts		—		4,229		—		4,229
Westrock Public Warrants		39,372		—		—		39,372
Westrock Private Warrants		—		—		5,389		5,389
Total	$	39,372	$	4,229	$	5,389	$	48,990

	December 31, 2023
(Thousands)	Level 1		Level 2		Level 3		Total
Assets:
Green coffee associated with forward contracts	$	—	$	33,447	$	—	$	33,447
Coffee futures contracts		3,355		—		—		3,355
Forward purchase and sales contracts		—		10,303		—		10,303
Total	$	3,355	$	43,750	$	—	$	47,105
Liabilities:
Forward purchase and sales contracts		—		3,731		—		3,731
Westrock Public Warrants		39,371		—		—		39,371
Westrock Private Warrants		—		—		5,430		5,430
Total	$	39,371	$	3,731	$	5,430	$	48,532

Schedule of change in fair value

	Westrock
(Thousands)	Private Warrants
Fair value as of December 31, 2023	$	5,430
Change in fair value		(41)
Fair value as of March 31, 2024	$	5,389

Schedule of unobservable inputs

	March 31, 2024		December 31, 2023
Stock price	$	10.33	$	10.21
Exercise price		11.50		11.50
Expected term (years)		5.00		5.00
Expected volatility		33.40%		33.80%
Risk-free rate of return		4.31%		3.91%
Dividend yield		0.00%		0.00%