Related-Party Transactions

12 Months Ended

Dec. 31, 2022

Related Party Transactions [Abstract]

Related-Party Transactions

22. RELATED-PARTY TRANSACTIONS

The Company did not have any related party transactions during the years ended December 31, 2022 and 2021.

The Company previously engaged a related party to provide Quality of Earnings reports on acquisition targets. The Company paid this related party approximately $0.1 million during the year ended December 31, 2020, for its services. This expense is included within selling, general and administrative expense on the consolidated statements of operations. The related party used by the Company is partially owned through investment vehicles controlled by certain members of the Company’s Board of Directors. The Company ceased using the services of this related party during 2020.

During the year ended December 31, 2020, the holder of the Redeemable Series A-1 Preferred Stock and Convertible and Redeemable A-2 Preferred Stock became a common stockholder in the Company. On the redemption date of the Redeemable Series A-1 Preferred Stock (Note 17), the Company issued 1,786,739 shares of common stock as dividend payment. Additionally, this related party exercised its warrant options (Note 13), becoming the holder of 2,534,239 additional common shares.