Schedule of Noncontrolling Ownership Interest |
The following summarizes the redeemable common stock adjustments pertaining to the non-controlling interest from April 1, 2021 through December 31, 2021: | | | | | | | Temporary Equity Adjustments | Balance- April 1, 2021 (1) | $ | (2,877,584) | | Net losses for the three months ended June 30, 2021 | (2,235,219) | | Maximum redemption right valuation (2) | 172,774,052 | | Balance- June 30, 2021 | $ | 167,661,249 | | Net losses for the three months ended September 30, 2021 | (4,328,460) | |
| | | | | | Adjustment of mezzanine equity to redemption amount (3) | 79,669,600 | | Balance- September 30, 2021 | $ | 243,002,389 | | Net losses for the three months ended December 31, 2021 | (8,594,196) | | Adjustment of mezzanine equity to redemption amount (4) | 66,644,424 | | Balance- December 31, 2021 | $ | 301,052,617 | | | | 1 As of the date of reorganization- refer to Note 1 | | 2 Based on 27,057,600 Common Class V shares outstanding at $6.39 issuance price as of April 1, 2021 | 3 Based on 27,057,600 Common Class V shares outstanding at $9.33 fair valuation price as of September 30, 2021 | 4 Based on 27,057,600 Common Class V shares outstanding at $11.79 fair valuation price as of December 31, 2021, using a 10-day variable weighted average price of trading dates; including the closing date |
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Schedule of Stockholders Equity |
The following summarizes the permanent equity adjustments pertaining to the non-controlling interest from November 2, 2021 (date of issuance) through December 31, 2021:
| | | | | | | Permanent Equity Adjustments | Balance- November 2, 2021 (1) | $ | 38,315,520 | | Net losses | (645,359) | | Balance- December 31, 2021 | $ | 37,670,161 | | | | 1 As of November 2, 2021, the date of issuance. 1,152,000 Series A Preferred units outstanding at $33.26 per public trading share price (Nasdaq closing price) | |
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