v3.25.2
ACQUISTION AND DIVESTITURES (Tables)
 6 Months Ended
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Fair Value of the Assets and Liabilities Acquired
The following table sets forth the preliminary fair value of the assets acquired and liabilities assumed as of the acquisition date. Certain data and assessments necessary to complete the purchase price allocation are still under evaluation, including, but not limited to, the valuation of property, plant and equipment and intangible assets. The Company will finalize the purchase price allocation during the twelve-month period following the acquisition date, during which time the value of the assets and liabilities may be revised as appropriate.
Moonrise Preliminary Purchase Price Allocation (in thousands):
Total consideration paid for Moonrise (1)
$89,771 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash
1,879 
Accounts receivable
3,482 
Other current assets
204 
Property, plant and equipment, net
74,496 
Intangibles
12,798 
Other assets758 
Trade accounts payable, accrued expenses and other
(3,846)
Net assets acquired and liabilities assumed
$89,771 
(1) Purchase price consideration includes $17.9 million of equity consideration (462,265 shares valued at $38.71 per share on March 10, 2025) as well as $1.9 million of cash acquired.
Schedule of Pro Forma Information
Pro Forma Information (Unaudited). The following table summarizes the unaudited pro forma condensed financial information of the Company as if the Moonrise Acquisition and Tall Oak Acquisition had occurred on January 1, 2024:
Six Months Ended
June 30,
20252024
Revenues
$276,893 $283,933 
Net income (loss)$(392)$129,329