Annual report pursuant to Section 13 and 15(d)

Acquisition of Verus Title Inc (Tables)

v3.22.0.1
Acquisition of Verus Title Inc (Tables)
12 Months Ended
Dec. 31, 2021
Business Acquisition [Line Items]  
Schedule of supplemental pro forma financial Information

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Year ended December 31, 

​

​

2021

​

2020

Revenue

​

$

335,743

​

$

195,242

Net loss

​

$

(13,697)

​

$

(2,646)

Net loss per share (basic)

​

$

(0.92)

​

$

(0.22)

E4:9  
Business Acquisition [Line Items]  
Schedule of purchase consideration and the fair values of the assets and liabilities

The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows (amount in thousands):

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Recognized amounts of identifiable assets acquired and liabilities assumed

​

 

​

Cash

​

$

2,843

Accounts receivable

​

 

958

Mortgage loans held for sale

​

 

8,147

Derivative assets

​

 

90

Prepaid and other current assets

​

 

122

Property & equipment

​

 

356

Intangible assets

​

 

11,780

Lease right of use assets

​

 

1,498

Other long-term assets

​

 

8

Total identifiable assets acquired

​

 

25,802

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​

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​

Accounts payable and accrued liabilities

​

 

938

Escrow liabilities

​

 

75

Derivative liabilities

​

 

120

Warehouse lines of credit

​

​

7,958

Notes payable

​

 

486

Lease liability, current portion

​

​

337

Lease liability, net of current portion

​

 

1,161

Deferred tax liabilities

​

 

2,743

Total liabilities assumed

​

 

13,818

Total identifiable net assets

​

 

11,984

Goodwill

​

 

14,474

Net assets acquired

​

$

26,458

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LiveBy  
Business Acquisition [Line Items]  
Schedule of purchase consideration and the fair values of the assets and liabilities

The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows (amount in thousands):

​

​

​

​

Recognized amounts of identifiable assets acquired and liabilities assumed

    

  

​

Cash

​

$

516

Accounts receivable

​

 

139

Intangible assets

​

 

4,920

Prepaid and other current assets

​

 

2

Total identifiable assets acquired

​

 

5,577

​

​

​

​

Deferred tax liabilities

​

 

597

Accounts payable and accrued liabilities

​

 

167

Total liabilities assumed

​

 

764

Total identifiable net assets

​

 

4,812

Goodwill

​

 

4,168

Net assets acquired

​

$

8,981