v3.26.1
CHP Merger (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule Of Business Combination, Consideration Transferred, Equity Interest
The consideration for the CHP Merger, which was transferred on March 11, 2026, the closing date of the CHP Merger (“Closing Date”), is as follows (in thousands, except per share data):
March 11,
2026
Quantity of outstanding CHP common stock173,942 
Fixed cash consideration per share$2.32
Aggregate Cash Consideration$403,545 
Cash in lieu of fractional shares824
Total Cash Consideration$404,369 
Exchange ratio0.1318
Aggregate Stock Consideration22,903 
SNDA closing stock price$33.70
Aggregate Stock Consideration (at fair value)$771,819 
CHP debt settlement payment (inclusive of accrued interest)565,923 
Upfront payments pursuant to the advisor assets purchase 6,076 
Advisor disposition fee14,338 
Settlement of CHP transaction costs116 
Total preliminary purchase price$1,762,641 
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table provides a summary of the preliminary purchase price allocation by major categories of assets acquired and liabilities assumed based on their respective estimated fair values as of March 11, 2026 (in thousands):
March 11,
2026
Total preliminary purchase price$1,762,641 
Assets:
Cash and cash equivalents$77,820 
Accounts receivable5,897 
Prepaid expenses and other6,137 
Property and equipment1,472,066 
Intangible assets183,813 
Other assets306 
Total assets acquired$1,746,039 
Liabilities:
Accounts payable$8,346 
Accrued expenses14,788 
Deferred income21,502 
Federal and state income taxes payable738 
Other current liabilities1,974 
Total liabilities assumed$47,348 
Estimated preliminary fair value of net assets acquired $1,698,691 
Goodwill$63,950 
Schedule of Unaudited Pro Forma Financial Information
The following unaudited pro forma information presents a summary of the results of operations for the combined Company, as if the CHP Merger had been consummated on January 1, 2025 (in thousands). The following unaudited pro forma financial information is not necessarily indicative of the results of operations had the acquisition been effected on the assumed date, nor is it necessarily an indication of trends in future results for a number of reasons, including, but not limited to, differences between the assumptions used to prepare the unaudited pro forma financial information, cost savings from operating efficiencies, potential synergies, and the impact of incremental costs incurred in integrating the businesses.
Three Months Ended March 31,
20262025
Total revenues$202,619 $187,569 
Net loss $(56,191)$(102,104)