XML 31 R21.htm IDEA: XBRL DOCUMENT v3.23.3
Forward Merger (Tables)
9 Months Ended
Sep. 30, 2023
Forward Merger  
Schedule of purchase price calculation

The following is a summary of the purchase price calculation (unaudited, in thousands except share and per share data).

Number of shares of common stock of the combined company

16,500,000

Multiplied by the Priveterra share price, as of the Closing

$

10.84

Total

$

178,860

Fair value of contingent consideration

 

125,699

Replacement of share-based payment awards

10,648

Assumed liabilities

125

Total purchase price

$

315,332

Schedule of allocation of purchase price

The allocation of the purchase price was as follows (unaudited, in thousands).

Cash

$

2,001

Net working capital (excluding cash)

(16,182)

Other assets and liabilities

 

775

Acquired in-process research and development

 

324,000

Net assets acquired

310,594

Loss on consolidation of VIE

4,738

Total purchase price

$

315,332

Schedule of number of shares of common stock issued and amounts recorded on the line to arrive at the opening consolidated balance sheet of the Successor

                

Common shares

    

Common stock amount

    

Subscription Receivable

    

APIC

    

Accumulated Deficit

Priveterra closing equity as of July 21, 2023

$

$

$

10,280

$

(12,829)

Shares issued as consideration in the Merger

Note 1

16,500,000

2

189,633

Stock-compensation for Class B Founder Shares

Note 3

6,900,000

1

34,362

(34,362)

Issuance of Forward Purchase Agreements

Note 6

6,275,000

1

(60,710)

66,714

(38,255)

Issuance of Make-Whole derivative

Note 6

(427)

Shares issued for Committed Financing

Note 6

5,797,611

1

61,097

(36,097)

Shares issued in New Money PIPE Subscription Agreements

Note 6

1,001,000

0

3,844

(3,844)

Founder contingent shares

Note 6

(18,521)

Acquired IPR&D and loss on consolidation of VIE

Note 3

(328,738)

Settlement of Medytox top-off right derivative

Note 6

4,959

(4,959)

Other miscellaneous

685,989

0

7,385

(7,513)

Total

37,159,600

$

4

$

(60,710)

$

359,753

$

(467,023)