Quarterly report pursuant to Section 13 or 15(d)

Acquisitions - Fair Value of Consideration Transferred and Assets Acquired and Liabilities Assumed (Details)

v3.23.3
Acquisitions - Fair Value of Consideration Transferred and Assets Acquired and Liabilities Assumed (Details) - American Advisors Group (AAG)
$ / shares in Units, $ in Thousands
Mar. 31, 2023
USD ($)
units
$ / shares
shares
Consideration transferred:  
Cash consideration $ 3,100
Notes payable to Seller 4,500
Pay off indebtedness 136,984
Other liabilities assumed 8,429
Buyer transaction expenses 770
Forgiveness of bridge working capital notes payable 24,034
Total cost 215,373
Assets acquired:  
Fixed assets and leasehold improvements 2,400
Right-of-use leased assets 491
Other assets 6,270
Total assets acquired 5,596,143
Liabilities assumed:  
Operating lease liabilities 492
Payables and other liabilities 25,906
Total liabilities assumed 5,380,770
Net identifiable assets acquired $ 215,373
Minimum  
Liabilities assumed:  
Business combination, contingent consideration, period 2 years
Maximum  
Liabilities assumed:  
Business combination, contingent consideration, period 3 years
Class A LLC Units  
Consideration transferred:  
Initial equity consideration – Class A LLC Units (Note 24 - Equity) $ 24,419
Deferred equity consideration – Class A LLC Units (Note 24 - Equity) $ 13,137
Liabilities assumed:  
Shares issued at closing of transaction | shares 19,692,990
Conversion ratio 1
Price per share (in dollars per share) | $ / shares $ 1.24
Contingent equity consideration, number of types | units 2
Class A LLC Units, Equity Classified, Indemnity Holdback  
Consideration transferred:  
Deferred equity consideration – Class A LLC Units (Note 24 - Equity) $ 8,700
Total cost $ 140,900
Liabilities assumed:  
Contingent equity consideration (in shares) | shares 7,058,416
Contingent equity consideration, threshold (in shares) | shares 3,571,130
Class A LLC Units, Liability Classified  
Consideration transferred:  
Deferred equity consideration – Class A LLC Units (Note 24 - Equity) $ 4,400
Liabilities assumed:  
Contingent equity consideration (in shares) | shares 7,142,260
Common Class B  
Consideration transferred:  
FoA Class B Common Stock (Note 24 - Equity) $ 0
Loans held for investment, subject to HMBS related obligations  
Assets acquired:  
Loans held for investment 5,448,712
Loans held for investment  
Assets acquired:  
Loans held for investment 138,270
HMBS related obligations  
Liabilities assumed:  
HMBS related obligations $ 5,354,372