Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2021
Jul. 09, 2021
Sep. 30, 2020
Cash Flows From Operating Activities      
Net income (loss) $ (20,431) $ 6,131 $ 3,371
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 20,541 1,782 2,534
Provision for losses 254 1,172 788
Change in fair value of warrant liabilities (10,116) 5,504 66
Change in fair value of contract derivatives, net (489) 662 (846)
Other income (expense) 60 (616) 414
Share-based payment arrangements 24,821 18 112
Deferred income tax expense (benefit) (5,684) 0 0
Increase (decrease) in operating capital:      
Increase in advances (28,690) (7,314) (12,913)
Decrease (increase) in due from affiliates 1,481 (1,839) 0
Decrease (increase) in other assets (16,444) 2,129 (544)
Increase (decrease) in accounts payable and accrued expenses (12,617) 2,327 2,329
Increase (decrease) in funding commitments (498) 3,100 (7,594)
Increase in due to affiliates 0 761 0
Increase (decrease) in other liabilities (109) 539 (64)
Net cash provided by (used in) operating activities (47,921) 14,356 (12,347)
Cash Flows From Investing Activities      
Return of investments in loan pool participation and loan principal repayments 351 832 971
Payments to acquire loans and participations in loan pools (254) (1,170) (2,128)
Payments to acquire property and equipment (871) (1,066) (2,533)
Payments to acquire Sunlight Financial LLC, net of cash acquired (304,570) 0 0
Net cash used in investing activities (305,344) (1,404) (3,690)
Cash Flows From Financing Activities      
Proceeds from borrowings under line of credit 0 20,746 8,713
Repayments of borrowings under line of credit 0 (14,758) (5,899)
Proceeds from issuance of private placement 250,000 0 0
Payments of stock issuance costs (19,618) 0 0
Payments for share-based payment tax withholdings (18,591) 0 0
Payment of capital distributions 0 (7,522) (1,987)
Payment of debt issuance costs 0 (491) 0
Net cash provided by (used in) financing activities 211,791 (2,025) 827
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (141,474) 10,927 (15,210)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 216,519 52,705 51,656
Cash, Cash Equivalents, and Restricted Cash, End of Period 75,045 216,519 36,446
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest 263 537 558
Cash paid during the period for income taxes, net 0 0 0
Noncash Investing and Financing Activities      
Preferred dividends, paid in-kind 0 58,709 11,962
Change in temporary equity redemption value 0 195,665 $ 279
Predecessor      
Cash Flows From Financing Activities      
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period $ 63,632    
Cash, Cash Equivalents, and Restricted Cash, End of Period   $ 63,632