Sunlight Financial Holdings Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Cover
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details
Uncategorized
- Uncategorized Items - sunl-20230331.htm

Subsequent Events (Details)

v3.23.1

Subsequent Events (Details) - USD ($)	Apr. 25, 2023	Apr. 28, 2023	Mar. 31, 2023	Mar. 10, 2023	Dec. 31, 2022	Nov. 30, 2020
Subsequent Event [Line Items]
Outstanding face amount/carrying value			$ 7,694,000		$ 20,613,000
Exercise price per share (in dollars per share)						$ 11.50
Shares (in shares)						9,900,000
Deposits with other federal home loan banks				$ 64,000,000
Cash				$ 73,200,000
Class A Common Stock
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)			$ 0.0001		$ 0.0001
Subsequent Event \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Loan Repurchase, Indirect Channel Loans
Subsequent Event [Line Items]
Disposal group, including discontinued operation, consideration		$ 296,000,000
Subsequent Event \| CRB
Subsequent Event [Line Items]
Class of warrant or right, number of securities called by warrants or rights	25,944,541
Exercise price per share (in dollars per share)	$ 0.01
Shares (in shares)	12,907,080
Class of warrant or right, unissued	13,037,461
Subsequent Event \| Secured Term Loan \| CRB
Subsequent Event [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed	4.00%
Line of credit facility, upfront fee	$ 2,658,000
Line of credit facility, unused capacity, commitment fee percentage	14.00%
Maximum facility size	$ 100,000,000
Debt instrument, financial covenants	$ 20,000,000
Percentage of cash in accounts with CRB and affiliates	75.00%
Subsequent Event \| Secured Term Loan, Tranche One \| Secured Term Loan \| CRB
Subsequent Event [Line Items]
Outstanding face amount/carrying value	$ 38,800,000
Subsequent Event \| Secured Term Loan, Tranche Two \| Secured Term Loan \| CRB
Subsequent Event [Line Items]
Outstanding face amount/carrying value	$ 49,800,000
Subsequent Event \| Class A Common Stock \| CRB
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.0001

- Definition

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Percentage Of Cash In Accounts With CRB And Affiliates

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Exercise price per share or per unit of warrants or rights outstanding.

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Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.

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Number of warrants or rights outstanding.

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Face amount or stated value per share of common stock.

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Percentage of principal amount of debt redeemed.

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Amount of interest-bearing funds deposited into another Federal Home Loan Banks (FHLBanks).

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Amount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation.

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The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.

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Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.

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