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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jul. 09, 2021
Dec. 31, 2020
Cash Flows From Operating Activities      
Net income (loss) $ (247,084) $ 6,131 $ 10,624
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 43,389 1,782 3,338
Goodwill impairment 224,701 0 0
Provision for losses 1,217 1,172 1,350
Change in fair value of warrant liabilities (22,583) 5,504 5,510
Change in fair value of contract derivatives, net (638) 662 (1,435)
Other income (expense) 181 (616) 634
Share-based payment arrangements 29,646 18 126
Deferred income tax expense (benefit) (5,524) 0 0
Increase (decrease) in operating capital:      
Increase in advances (24,219) (7,314) (17,877)
Decrease (increase) in due from affiliates 1,839 (1,839) 0
Decrease (increase) in other assets (16,367) 2,129 (3,000)
Increase (decrease) in accounts payable and accrued expenses (3,476) 2,327 6,918
Increase (decrease) in funding commitments 1,263 3,100 (1,123)
Increase (decrease) in due to affiliates (761) 761 0
Increase (decrease) in other liabilities (149) 539 (40)
Net cash provided by (used in) operating activities (18,565) 14,356 5,025
Cash Flows From Investing Activities      
Return of investments in loan pool participation and loan principal repayments 710 832 1,316
Payments to acquire loans and participations in loan pools (716) (1,170) (2,839)
Payments to acquire property and equipment (3,436) (1,066) (3,280)
Payments to acquire Sunlight Financial LLC, net of cash acquired (304,570) 0 0
Net cash used in investing activities (308,012) (1,404) (4,803)
Cash Flows From Financing Activities      
Proceeds from borrowings under line of credit 0 20,746 8,713
Repayments of borrowings under line of credit 0 (14,758) (5,899)
Proceeds from issuance of private placement 250,000 0 0
Payments of stock issuance costs (19,618) 0 0
Payments for share-based payment tax withholding (26,424) 0 0
Payment of capital distributions 0 (7,522) (1,987)
Payment of debt issuance costs 0 (491) 0
Net cash provided by (used in) financing activities 203,958 (2,025) 827
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (122,619) 10,927 1,049
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 216,519 52,705 51,656
Cash, Cash Equivalents, and Restricted Cash, End of Period 93,900 216,519 52,705
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest 527 537 713
Noncash Investing and Financing Activities      
Distributions declared, but not paid 0 0 7,522
Preferred dividends, paid in-kind 0 58,709 33,650
Change in temporary equity redemption value 0 195,665 502,076
Capital expenditures incurred but not yet paid 1,156 0 $ 0
Predecessor      
Cash Flows From Financing Activities      
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period $ 63,632    
Cash, Cash Equivalents, and Restricted Cash, End of Period   $ 63,632