Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 229

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 229
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 Equity)24,419 Deferred equity consideration – Class A LLC Units(4) (Note 30 - Equity)13,137 Other liabilities assumed 8,429 Buyer transaction expenses(2)770 Forgiveness of bridge working capital notes payable24,034 Total cost$215,373 Assets acquired:Loans held for investment, subject to HMBS related obligations$5,448,712 Loans held for investment138,270 Fixed assets and leasehold improvements2,400 Right-of-use leased assets491 Other assets6,270 Total assets acquired5,596,143 Liabilities assumed:HMBS related obligations5,354,372 Operating lease liabilities492 Payables and other liabilities25,906 Total liabilities assumed5,380,770 Net identifiable assets acquired$215,373 (1) The Seller owns one share of FOA Class B Common Stock. Class B Common Stock has no economic rights but entitles each holder of at least one such share (regardless of the number of shares held) to a number of votes that is equal to the aggregate number of Class A LLC Units held by the holder on all matters on which Class A Common Stockholders are entitled to vote. The fair value of the Class B Common Stock was determined to be negligible as there are no economic rights associated with the Class B Common Stock.(2) Amounts represent the cash portion of the consideration paid to acquire the net assets of AAG/Bloom. Total cash consideration was $140.9 million.(3) At the closing of the AAG Transaction, FOA Equity issued 1,969,299 Class A LLC Units to the Seller, which hold 1:1 conversion rights for Class A Common Stock of FOA. At the closing date, the fair value of these Class A LLC Units were equal to the Class A Common Stock share price of $12.40 per share.(4) The deferred equity consideration is comprised of two forms of issuable Class A LLC Units; 705,841 units with a fair value on the closing date of $8.7 million that are equity classified and indemnity holdback units totaling up to 714,226 units with a fair value on the closing date of $4.4 million that are liability classified. The deferred equity consideration that is liability classified is recorded in Payables and other liabilities in the Consolidated Statements of Financial Condition. On October 29, 2024, FOA Equity issued 705,