Annual report pursuant to Section 13 and 15(d)

Redeemable Non-Controlling Interests (Tables)

v3.22.4
Redeemable Non-Controlling Interests (Tables)
12 Months Ended
Dec. 31, 2022
Stockholders' Equity Attributable to Parent [Abstract]  
Schedule of Call and Put Options Investment Funds
The following table sets forth information about the call and put options for our investment funds outstanding as of December 31, 2022:
Call Option Put Option
Investment Fund Number Formation Date Start Date End Date Purchase Price Start Date End Date Purchase Price
1 June 2018 April 2024 October 2024 (1) October 2024 April 2025 (3)
2 October 2018 June 2024 December 2024 (1) December 2024 June 2025 (3)
3 December 2019 March 2026 September 2026 (2) September 2026 September 2027 (4)
(1) Purchase price is equal to the greater of (i) the fair market value of such interests at the time the option is exercised or (ii) 7% of the investors’ contributed capital balance at the time the option is exercisable.
(2) Purchase price is equal to the greater of (i) the fair market value of such interests at the time the option is exercised or (ii) 5% of the investors’ contributed capital balance at the time the option is exercisable. The call options are exercisable beginning on the date that specified conditions are met for each respective fund. These dates are estimate and subject to change based on last funding date.
(3) Purchase price is the sum of (i) the fair market value at the time the option is exercised, and (ii) the closing costs incurred by the investor in connection with the exercise of the put option.
(4) Purchase price is the lessor of fair market value at the time the option is exercised and the sum of (i) 5% of the investors’ contributed capital balance at the time the option is exercisable, and (ii) the fair market value of any unpaid tax law change losses incurred by the investor in connection with the exercise of the put option.
The following table presents our call option exercised during the:
Year Ended December 31,
2022 2021
Start date of call option December 2022 March 2021
Date purchase of investor's share was finalized December 2022 September 2021
Cash paid $ 839  $ 1,000