Fair Value Measurement (Tables)

9 Months Ended

Nov. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

The following tables set forth details about our investments:

($ in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
November 30, 2021 (Successor)
Asset-backed securities	$	162	$	48	$	—	$	210
February 28, 2021 (Successor)
Asset-backed securities	$	162	$	62	$	—	$	224

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

Our assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:

	Successor
	November 30, 2021
($ in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market	$	4	$	—	$	—	$	4
Total cash equivalents		4		—		—		4
Investments:
Asset-backed securities		—		210		—		210
Total investments		—		210		—		210
Total assets	$	4	$	210	$	—	$	214
Liabilities:
Warrant liability	$	47,334	$	—	$	69,886	$	117,220
Contingent consideration		—		—		66,988		66,988
Total liabilities	$	47,334	$	—	$	136,874	$	184,208

	Successor
	February 28, 2021
($ in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market	$	4	$	—	$	—	$	4
Total cash equivalents		4		—		—		4
Investments:
Asset-backed securities		—		224		—		224
Total investments		—		224		—		224
Total assets	$	4	$	224	$	—	$	228
Liabilities:
Acquisition-related obligations	$	—	$	—	$	2,000	$	2,000
Warrant liability		25,806		—		42,966		68,772
Contingent consideration		—		—		150,808		150,808
Total liabilities	$	25,806	$	—	$	195,774	$	221,580

Reconciliation of Beginning and Ending Balances of Acquisition Related Accrued Earn-Outs Using Significant Unobservable Inputs (Level 3)

The following table provides a reconciliation of the beginning and ending balances of acquisition related accrued earn-outs and contingent consideration using significant unobservable inputs (Level 3):

	Successor
($ in thousands)	November 30, 2021			February 28, 2021
Beginning of period	$	152,808		$	2,000
Acquisition date fair value of contingent consideration		—			184,548
Conversion to Class A Common Stock		(175,000	)		—
Cash payments		(2,000	)		—
Loss (gain) from fair value of contingent consideration		91,180			(33,740	)
End of period	$	66,988		$	152,808

Reconciliation of Warrant Liability

Our warrant liability is measured at fair value on a recurring basis using active market quoted prices (Level 1) and significant unobservable inputs (Level 3). The following table provides a reconciliation of the warrant liability from February 4, 2021 through February 28, 2021 and February 28, 2021 through November 30, 2021:

	Successor
($ in thousands)	November 30, 2021		February 28, 2021
Beginning of period	$	68,772	$	91,959
Loss (gain) from fair value of warrant liability		48,448		(23,187	)
End of period	$	117,220	$	68,772