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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net income (loss) $ 12,786,000 $ (62,160,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,380,000 8,172,000
Amortization of debt discounts and deferred financing costs 841,000 (2,816,000)
Unrealized (gain) loss on investments 2,923,000 170,000
Realized (gain) loss on investments (10,619,000) 0
Impairment loss on goodwill and intangible assets 695,000 29,393,000
Gain (loss) on TRA (6,322,000) 2,092,000
(Income) loss on equity method investments 1,046,000 1,654,000
Fair value of warrant liability (69,000) 12,866,000
Fair value of earn-out liability (37,509,000) (36,877,000)
Deferred income tax (benefit) expense (8,027,000) (16,392,000)
Equity-settled share-based payments 9,074,000 33,100,000
Unrealized foreign currency (gains)/losses 16,000 1,189,000
(Gain) loss from retirement of debt 0 (73,000)
Fair value of interest rate swap 0 33,000
Cash flows due to changes in operating assets and liabilities    
Fees receivable 39,485,000 8,476,000
Other assets (11,376,000) (4,366,000)
Operating cash flow from operating leases 2,052,000 555,000
Accounts payable and accrued expenses (16,013,000) (22,485,000)
Accrued compensation and profit sharing (31,607,000) (10,056,000)
Other liabilities 468,000 (9,090,000)
Other operating activities 14,000 (31,000)
Net cash provided by (used in) operating activities (45,656,000) (66,529,000)
Cash Flows from Investing Activities    
Cash payment for acquisition of TWMH and TIG historical equity 0 (99,999,000)
Receipt of payments of notes receivable from members 283,000 216,000
Cash receipts from the repayment of advances and loans 0 302,000
Purchases of investments (74,000) (15,435,000)
Cash payment for delayed share purchase agreement (1,818,000) 0
Payment of Payout Right 0 (760,000)
Acquisition of ALWP, net of cash acquired 0 (14,430,000)
Acquisition of East End Advisors, LLC, net of cash acquired (69,014,000) 0
Acquisition of Pointwise Holdings Limited, net of cash acquired (1,467,000) 0
Sales of investments 825,000 1,812,000
Proceeds from sale of FOS 16,683,000 0
Proceeds from sale of LXi REIT Advisors 32,202,000 0
Purchases of fixed assets (1,274,000) (254,000)
Net cash provided by (used in) investing activities (23,654,000) (128,548,000)
Cash Flows from Financing Activities    
Proceeds from issuance of preferred stock and warrants 150,000,000 0
Member contribution (distribution) (5,534,000) (5,305,000)
Payments on term notes and lines of credit (53,612,000) (141,950,000)
Borrowings on term notes and lines of credit 32,258,000 188,660,000
Payments of debt issuance costs (1,519,000) 0
Tax payments related to vesting of RSUs (4,037,000) 0
Tax payments on behalf of umbrella partners (270,000) 0
Increase (decrease) in distributions due to former TIG members 0 (13,355,000)
Cash payment for purchase of shares to be transferred as part of Alvarium share compensation 0 (4,215,000)
Cash receipts from exercise of Warrants 0 5,836,000
Payment of preferred stock issuance costs (4,307,000) 0
Cash payment of earn-in liability (754,000) 0
Other financing activities 0 1,000
Net cash provided by (used in) financing activities 112,225,000 29,672,000
Effect of exchange rate changes on cash (1,177,000) (1,527,000)
Net increase (decrease) in cash 41,738,000 (166,932,000)
Cash and cash equivalents at beginning of the period 18,246,000 194,037,000
Cash and cash equivalents at end of the period 59,984,000 27,105,000
Reconciliation of balance sheet cash and cash equivalents to cash flows:    
Cash and cash equivalents on balance sheet 59,984,000 24,106,000
Cash and cash equivalents included in Assets held for sale (Note 3) 0 2,999,000
Cash and cash equivalents, including cash in Assets held for sale 59,984,000 27,105,000
Supplemental Disclosure of Cash Flow Information    
Income taxes 843,000 842,000
Interest payments on term notes and lines of credit 8,703,000 4,086,000
Shareholder Loan    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Forgiveness of debt shareholder loan $ 106,000 $ 117,000