FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Derivative Liability

The following presents the levels of the fair value hierarchy for the Company's derivatives measured at fair value on a recurring basis as of March 31, 2024 (in thousands):

	March 31, 2024
	Fair value hierarchy
	Level 1		Level 2		Level 3		Fair value
Energy derivatives liability:
Energy derivatives	$	—	$	1,465	$	—	$	1,465
Total energy derivatives liability	—		1,465		—		1,465
Contingent value rights liabilities:
Contingent value rights	41,427		—		—		41,427
GUC contingent value rights	—		—		3,174		3,174
Total contingent value rights liabilities	41,427		—		3,174		44,601
Warrants liability:
Warrants	327,465		—		—		327,465
Total warrants liability	327,465		—		—		327,465
Total liabilities measured at fair value on a recurring basis	$	368,892	$	—	$	3,174	$	372,066

Schedule of Derivatives Instruments Statements of Balance Sheet and Statement of Operations, Location

The following table summarizes the fair value of the energy forward purchase contract on the Company’s Consolidated Balance Sheets (in thousands):

		Fair Value (Level 2)
	Financial statement line item	March 31, 2024		December 31, 2023
Energy forward purchase contract	Accrued expenses and other current liabilities	$	1,465	$	2,262

The Company recorded the following gains/(losses) related to the energy forward purchase contract on the Company’s Consolidated Statements of Operations (in thousands):

		Three Months Ended March 31,
	Financial statement line item	2024		2023
Energy forward purchase contract	Change in fair value of energy derivatives	$	(2,218)	$	—

Schedule of Fair Value of GUC CVRs Liability

The following presents a rollforward of the activity for the GUC CVRs liability measured at fair value on a recurring basis using Level 3 inputs as of March 31, 2024 (in thousands):

	GUC CVRs (Level 3)
Balance at December 31, 2023	$	—
Issuances	3,950
Unrealized gains	(776)
Balance at March 31, 2024	$	3,174

Schedule of Significant Level 3 Unobservable Inputs Used to Measure the Fair Value of GUC CVRs

The following presents significant Level 3 unobservable inputs used to measure the fair value of GUC CVRs as of March 31, 2024 (dollars in thousands):

	Fair value		Unobservable Input	Measure
GUC contingent value rights	$	3,174	Estimated Volatility	120.0	%