| Schedule of Debt Obligations |
Debt obligations consisted of the following as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | Maturity date | | Stated interest rate | | Effective interest rate | | Extension options | | Total facility | | Outstanding balance | MLC US Holdings Credit Facility1 | | August 2027 | | SOFR +6.00% | | 9.70 | % | | N/A | | $ | 14,000 | | | $ | 14,000 | | | Seller note — Ability Acquisition | | October 2031 | | 5.00 | % | | 5.00 | % | | N/A | | 15,000 | | | 15,000 | | | Exchange Listed Notes | | January 2031 | | 8.00 | % | | 9.44 | % | | N/A | | 40,000 | | | 38,429 | | Debenture units2 | | January 2032 | | 8.85 | % | | 8.93% - 9.28% | | N/A | | 26,849 | | | 30,860 | | | Total debt | | | | | | | | | | $ | 95,849 | | | $ | 98,289 | |
_______________ (1)The MLC US Holdings Credit Facility is secured by all assets and interests in assets and proceeds owned and acquired by MLC US Holdings. (2)The warrants issued with the Initial Debenture Units are recorded in equity at fair value upon issuance and therefore are not required to be subsequently remeasured at fair value on an ongoing basis. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Maturity date | | Stated interest rate | | Effective interest rate | | Extension options | | Total facility | | Outstanding balance | | | | | | | | | | | | | | MLC US Holdings Credit Facility1 | | August 2027 | | SOFR +7.50% | | 11.76 | % | | N/A | | 40,000 | | | 38,000 | | | Seller note — Ability Acquisition | | October 2031 | | 5.00 | % | | 5.00 | % | | N/A | | 15,000 | | | 15,000 | | Debenture units2 | | January 2032 | | 8.85 | % | | 8.91 | % | | N/A | | 21,252 | | | 24,075 | | | Total debt | | | | | | | | | | $ | 76,252 | | | $ | 77,075 | |
_______________ (1)The MLC US Holdings Credit Facility is secured by all assets and interests in assets and proceeds owned and acquired by MLC US Holdings. (2)The warrants issued with the Initial Debenture Units are recorded in equity at fair value upon issuance and therefore are not required to be subsequently remeasured at fair value on an ongoing basis. Ability has the following surplus notes outstanding as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | Date issued | | Date of maturity | | Interest rate | | Par value | | Carrying value of note | | | | | | | | | | | | | Revol One Insurance Company (formerly known as Pavonia Life Insurance Company of Michigan) | | August, 2023 | | December, 2032 | | 10.00 | % | | 12,000 | | | 12,000 | | | | | | | | | | | | | | Total surplus notes | | | | | | | | $ | 12,000 | | | $ | 12,000 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Date issued | | Date of maturity | | Interest rate | | Par value | | Carrying value of note | | Sentinel Security Life Insurance Company | | February, 2013 | | June, 2028 | | 5.00 | % | | $ | 2,250 | | | $ | 2,250 | | | Revol One Insurance Company (formerly known as Pavonia Life Insurance Company of Michigan) | | August, 2023 | | December, 2032 | | 10.00 | % | | 12,000 | | | 12,000 | | | Atlantic Coast Life Insurance Company | | March, 2025 | | March, 2033 | | SOFR+6.00% | | 3,000 | | | 3,000 | | | Total surplus notes | | | | | | | | $ | 17,250 | | | $ | 17,250 | |
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| Schedule of Maturities of Long-Term Debt |
The scheduled principal repayments are as follows: | | | | | | | | | | As of | | | | June 30, 2026 | | Remainder of 2026 | | | | $ | 1,000 | | | 2027 | | | | 16,000 | | 2028 | | | | 3,000 | | 2029 | | | | 3,000 | | 2030 | | | | 3,000 | | | 2031 and thereafter | | | | 72,289 | | | | | 98,289 | | | Transaction costs (net of amortization) | | | | (230) | | Total debt | | | | $ | 98,059 | |
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