v3.26.1
Reverse Capitalization (Tables)
12 Months Ended
Dec. 31, 2025
Reverse Capitalization [Abstract]  
Schedule of Business Combination

The Business Combination was consummated on June 5, 2025. Following the Business Combination, the ownership structure of Namib was as follows:

 

Number of
Ordinary
Shares

 

% of
Ownership

Sponsor, Polar, and Permitted Transferees

 

4,575,000

 

9

%

Other Initial Shareholders

 

125,000

 

0

%

SPAC Public Stockholders

 

107,469

 

0

%

Greenstone Rollover Shares

 

48,869,960

 

91

%

Total

 

53,677,429

 

100

%

Schedule of Fair Value of the Equity Interests The fair value of the equity interests was measured at the closing market price of HCVI’s publicly traded shares on June 5, 2025, which was $11.40 per share. See below for details.

Fair value of Ordinary Shares issued to HCVI Public Stockholders (107,469 shares at $11.40)

 

1,225

Fair value of Ordinary Shares issued to HCVI Sponsor and Anchor Investors (3,820,000 shares at $11.40)

 

43,548

Fair value of all the consideration issued by target to acquire the HCVI

 

44,773

Adjusted for net liabilities of HCVI

 

20,608

Total share listing expense

 

65,381