XML 19 R9.htm IDEA: XBRL DOCUMENT v3.23.3
Cash, Cash Equivalents, and Restricted Cash
9 Months Ended
Sep. 30, 2023
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, and Restricted Cash

NOTE 3 — Cash, Cash Equivalents, and Restricted Cash

 

Cash, cash equivalents, and restricted cash consisted of the following:

 

 

September 30, 2023

 

 

December 31, 2022

 

 

 

 

 

 

 

Cash and cash equivalents

$

14,469

 

 

$

24,594

 

Restricted cash

 

 

 

 

360

 

Restricted cash - long-term portion

 

249

 

 

 

248

 

$

14,718

 

 

$

25,202

 

 

 

 

 

 

 

 

The restricted cash balance at December 31, 2022 included $360 of cash maintained in escrow related to Forward Share Purchase Agreements (“FPAs”). Effective August 1, 2022, the “FPA Holders” elected to have Leafly repurchase their remaining 154 shares covered by the FPAs for an aggregate repurchase price of $31,663. As a result, the shares repurchased have been removed from Leafly's outstanding shares effective as of the date of purchase and placed into treasury. The FPA Holders elected to have all but $360 disbursed from the escrow account and were able to claim the remainder any time until August 1, 2023. On July 11, 2023, Leafly returned $360 of restricted cash to the FPA Holders pursuant to the terms of the FPAs. Additional information regarding the FPAs is included in Notes 13 and 18.