Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (202,324) $ 17,479 $ (212,515)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization, including amounts in cost of goods sold 26,492 8,411 4,425
Share-based compensation 23,073 14,506 9,592
Fair value changes in derivatives (91,887) (105,170) 173,707
Net gains on business combinations 0 0 (10,149)
Non-cash interest expense, including amortization of deferred financing costs 19,437 17,055 8,205
Deferred income taxes and uncertain tax positions (17,455) 21,713 8,300
Loss on debt modification/extinguishment/redemption 18,858 3,815 1,853
Asset impairments 159,645 6,344 170
Inventory charge 9,418 0 0
Other non-cash items, net 2,061 (1,297) 3,570
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (1,594) (1,872) (61)
Accounts payable, accrued expenses and other current liabilities 24,106 21,558 7,842
Inventory 5,396 (12,945) (4,254)
Prepaid expenses and other current assets 1,627 (7,502) (1,724)
Other assets 1,731 3,601 (1,325)
Net cash flows used in operating activities (21,416) (14,304) (12,364)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Payments for acquisitions, net of cash acquired (20,978) (47,308) (28,564)
Payments for property, plant and equipment (56,881) (75,296) (22,780)
Proceeds from investments and financial asset 0 9,149 18,597
Other investing activities (3,000) 0 (13,053)
Net cash flows used in investing activities (80,859) (113,455) (45,800)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of shares, net 13,680 85,660 29,243
Proceeds from exercise of warrants and options 1,203 17,128 46,587
Proceeds from acquisition facility 25,000 40,000 0
Proceeds from issuance of second lien notes and related warrants in 2022 and senior notes and related warrants in 2020 31,594 0 51,861
Redemptions of senior notes (including related party redemptions of $8 and $3,072 for the year ended December 31, 2022 and 2021, respectively (33,726) (8,134) 0
Payments of acquisition promissory notes 0 (1,620) (24,003)
Payments of finance leases, net of tenant allowance of $10,633, $19,046 and $200 for the year ended December 31, 2022, 2021 and 2020, respectively (8,775) (1,163) (1,848)
Proceeds from other debt 2,800 7,910 3,529
Repayments of other debt (148) (417) 0
Payments of loan financing costs (2,437) (1,701) 0
Proceeds from other financing activities 6,030 0 0
Payments of other financing activities, net (1,238) 0 (237)
Net cash flows provided by financing activities 33,983 137,663 105,132
Effect of currency translation on cash and cash equivalents (49) (274) (47)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (68,341) 9,630 46,921
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 95,487 85,857 38,936
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR 27,146 95,487 85,857
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for interest (excluding capitalized interest) 27,706 13,798 7,359
Cash paid for income taxes 11,668 7,066 1,336
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Capital expenditures 7,921 17,599 2,177
Right of use assets from finance lease liabilities (excluding from acquisitions), net of tenant allowance receivable of $0, $7,357 and $805 for the year ended December 31, 2022, 2021 and 2020, respectively 4,811 51,200 15,287
Debt and equity issued for services received $ 702 $ 0 $ 0