Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Fair Value Measurements

Summary of recurring measurements for assets and liabilities at fair value

The following details the Company’s recurring measurements for assets and liabilities at fair value (in thousands, unaudited):

	Convertible Notes		Warrant Liabilities		Contingent Consideration		Embedded Forward Purchase Agreement and Make Whole Derivative
	(Level 3)		(Level 1)		(Level 3)		(Level 3)
Successor
Balance, January 1, 2024	$	—	$	1,447	$	104,350	$	41,043
Issuance of convertible notes		5,000		—		—		—
Change in fair value		87		20,903		63,769		(413)
Warrant cashless exercise		—		(10,350)		—		—
Termination of forward purchase agreements		—		—		—		(40,380)
Termination of forward purchase agreements	$	5,087	$	12,000	$	168,119	$	250

The following details the Company’s recurring measurements for assets and liabilities at fair value (in thousands):

	Convertible Notes		Warrant Liabilities		Contingent Consideration		Embedded Forward Purchase Agreement and Make Whole Derivative
	(Level 3)		(Level 1)		(Level 3)		(Level 3)
Predecessor
Balance, December 31, 2022	$	131,292	$	—	$	—	$	—
Issuance of convertible notes		14,000		—		—		—
Change in fair value		19,359		—		—		—
Conversion to common shares		(164,651)		—		—		—
Balance, July 21, 2023		—		—		—		—
Successor
Balance, July 22, 2023		—		3,765		157,100		32,677
Additions		—		—		—		—
Change in fair value		—		(2,318)		(52,750)		8,366
Balance, December 31, 2023	$	—	$	1,447	$	104,350	$	41,043

Summary of significant inputs as of the valuation dates

	December 31,		July 21,
	2023		2023
Stock Price	$	7.20	$	10.84
Expected volatility		52.00%		55.00%
Risk-free interest rate		4.48%		4.82%
Expected life (in years)		1.56		2
Expected dividend yield		—		—

Summary of the Company's issued and outstanding public warrants

	Public	Private	Total
Issued and Outstanding, January 1, 2024	9,200,000	5,279,999	14,479,999
Number of warrants exercised	(4,912,867)	(1,291,047)	(6,203,914)
Issued and Outstanding, March 31, 2024	4,287,133	3,988,952	8,276,085