v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Predecessor
Common Shares
Common Shares
Predecessor
Additional Paid In Capital
Additional Paid In Capital
Predecessor
Cumulative Net Loss
Cumulative Net Loss
Predecessor
Cumulative Common Distributions
Cumulative Common Distributions
Predecessor
Beginning balance (in shares) at Dec. 31, 2024       69,824,743            
Beginning balance at Dec. 31, 2024   $ 1,152,804   $ 698   $ 2,656,548   $ (35,933)   $ (1,468,509)
Increase (Decrease) in Shareholders' Equity                    
Issuance of common shares, net (in shares)       238,343            
Issuance of common shares, net   145   $ 3   142        
Common share grants   279       279        
Net loss   (45,867)           (45,867)    
Distributions to common shareholders   (698)               (698)
Ending balance (in shares) at Mar. 31, 2025       70,063,086            
Ending balance at Mar. 31, 2025   1,106,663   $ 701   2,656,969   (81,800)   (1,469,207)
Beginning balance (in shares) at Dec. 31, 2024       69,824,743            
Beginning balance at Dec. 31, 2024   1,152,804   $ 698   2,656,548   (35,933)   (1,468,509)
Increase (Decrease) in Shareholders' Equity                    
Net loss   (87,053)                
Ending balance (in shares) at Jun. 30, 2025       73,976,190            
Ending balance at Jun. 30, 2025   1,065,928   $ 740   2,658,090   (122,986)   (1,469,916)
Beginning balance (in shares) at Mar. 31, 2025       70,063,086            
Beginning balance at Mar. 31, 2025   1,106,663   $ 701   2,656,969   (81,800)   (1,469,207)
Increase (Decrease) in Shareholders' Equity                    
Issuance of common shares, net (in shares)       3,933,346            
Issuance of common shares, net   961   $ 39   922        
Common share grants   $ 205       205        
Common share repurchases (in shares)   (20,242)                
Common share repurchases   $ (6)       (6)        
Net loss   (41,186)           (41,186)    
Distributions to common shareholders   (709)               (709)
Ending balance (in shares) at Jun. 30, 2025       73,976,190            
Ending balance at Jun. 30, 2025   1,065,928   $ 740   2,658,090   (122,986)   (1,469,916)
Beginning balance (in shares) at Dec. 31, 2025       73,941,128            
Beginning balance at Dec. 31, 2025   880,987   $ 739   2,658,471   (308,307)   (1,469,916)
Increase (Decrease) in Shareholders' Equity                    
Common share grants   165       165        
Net loss   (93,021)           (93,021)    
Ending balance (in shares) at Mar. 31, 2026       73,941,128            
Ending balance at Mar. 31, 2026   788,131   $ 739   2,658,636   (401,328)   (1,469,916)
Beginning balance (in shares) at Dec. 31, 2025       73,941,128            
Beginning balance at Dec. 31, 2025   880,987   $ 739   2,658,471   (308,307)   (1,469,916)
Increase (Decrease) in Shareholders' Equity                    
Net loss   (882,040)                
Ending balance (in shares) at Jun. 17, 2026       21,953,577            
Ending balance at Jun. 17, 2026 $ 514,542 514,542   $ 220   514,322   0   0
Beginning balance (in shares) at Mar. 31, 2026       73,941,128            
Beginning balance at Mar. 31, 2026   788,131   $ 739   2,658,636   (401,328)   (1,469,916)
Increase (Decrease) in Shareholders' Equity                    
Issuance of common shares, net (in shares)       21,953,577            
Issuance of common shares, net   514,542   $ 220   514,322        
Common share grants   888       888        
Net loss   (789,019)         $ (789,019)      
Cancellation of Predecessor equity (in shares)       (73,941,128)            
Cancellation of Predecessor equity   0   $ (739)   (2,659,524)   1,190,347   1,469,916
Ending balance (in shares) at Jun. 17, 2026       21,953,577            
Ending balance at Jun. 17, 2026 514,542 $ 514,542   $ 220   $ 514,322   $ 0   $ 0
Increase (Decrease) in Shareholders' Equity                    
Net loss (3,087)                  
Ending balance (in shares) at Jun. 30, 2026     21,953,577              
Ending balance at Jun. 30, 2026 511,455   $ 220   $ 514,322   (3,087)   $ 0  
Beginning balance (in shares) at Jun. 18, 2026     21,953,577              
Beginning balance at Jun. 18, 2026 514,542   $ 220   514,322   0   0  
Increase (Decrease) in Shareholders' Equity                    
Net loss (3,087)           (3,087)      
Ending balance (in shares) at Jun. 30, 2026     21,953,577              
Ending balance at Jun. 30, 2026 $ 511,455   $ 220   $ 514,322   $ (3,087)   $ 0