Subsequent Events |
6 Months Ended |
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Jun. 30, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
21. Subsequent Events
The Company has evaluated subsequent events from the date of the condensed consolidated financial statements of June 30, 2024 through August 9, 2024, the date these condensed consolidated financial statements were issued. No events or transactions were identified that would have an impact on the financial position as of June 30, 2024 or results of operations of the Company for the three and six months ended June 30, 2024, except as follows:
Reverse Stock Split On July 25, 2024, the Company amended its Amended and Restated Certificate of Incorporation to effect a 1-for-10 Reverse Stock Split of its shares of Class A Common Stock. FoA Equity completed a corresponding 1-for-10 reverse split of its Class A LLC Units to maintain the 1-for-1 parity of its Class A LLC Units with the Company’s adjusted number of Class A Common Stock shares. All references in this Quarterly Report on Form 10-Q to numbers of Class A Common Stock shares, weighted average shares outstanding, loss per share, FoA Class A Common Stock share price, and Class A LLC Units have been adjusted to reflect the Reverse Stock Split on a retroactive basis. Refer to Note 2 - Summary of Significant Accounting Policies for additional information.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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