| Summary of Fair Value of the Consideration and the Allocation to the Net Assets Acquired |
A summary of the fair value of the consideration and the allocation to the net assets acquired is as follows:
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March 26, 2026 |
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Consideration: |
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Fair value of shares of common stock issued, calculated as 13,686,278 shares of common stock issued at a fair value of $16.69/share |
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$ |
228,423,981 |
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Fair value of exchangeable shares issued, calculated as 1,597,301 exchangeable shares of common stock issued at a fair value of $16.69/share |
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26,658,954 |
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Fair value of replacement options granted allocated to consideration |
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2,138,173 |
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Transaction costs |
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7,171,738 |
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$ |
264,392,846 |
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Allocation to net assets acquired: |
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Cash and cash equivalents |
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$ |
36,022,607 |
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Prepaid expenses and other |
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2,148,317 |
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Property & equipment, net |
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287,604,413 |
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Accrued liabilities |
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(334,458 |
) |
Liability on flow-through share issuances |
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(4,989,580 |
) |
Deferred income tax liability |
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(56,058,453 |
) |
Investment balance at March 31, 2026 |
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$ |
264,392,846 |
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The fair value of shares of common stock and exchangeable shares issued was determined by reference to the trading price of the Contango share as of March 26, 2026.
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