Subsequent Events |
6 Months Ended |
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Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | NOTE 22 - SUBSEQUENT EVENTS Share Purchase Agreement - Goonhilly On August 3, 2026, the Company consummated the acquisition of the Goonhilly group’s UK and U.S. operations pursuant to the terms of a Share Purchase Agreement (the “SPA”), dated May 14, 2026, with Goonhilly Holdings Limited, as seller. Pursuant to the SPA, the Company acquired all of the issued and outstanding shares of Goonhilly Earth Station Limited, a ground station and satellite communications company incorporated in England and Wales (the “UK Acquisition”). The aggregate consideration for the UK Acquisition (the “UK Consideration”) was £37,000,000, split equally between cash and stock. The stock portion consists of 960,649 shares of Class A Common Stock (the “Consideration Shares”). The UK Consideration is subject to customary post-closing adjustment. Additionally, as part of the acquisition of the Goonhilly group’s UK and U.S. operations pursuant to the SPA, on August 3, 2026, the Company entered into a Membership Interest Purchase Agreement (the “MIPA”) with Goonhilly Holdings USA Inc., pursuant to which we acquired all of the issued and outstanding membership interests of COMSAT LLC (formerly Goonhilly Inc.) (“COMSAT”) for a base cash purchase price of $10.0 million and reimbursement of expenses, subject to adjustments for cash, debt, working capital and specified capital expenditures, including a post-closing true-up. The Company is in the process of evaluating the assets acquired and liabilities assumed and therefore is unable to provide preliminary purchase price allocation information as of the date of issuance of these financial statements. Palo Alto Campus - Lease Amendment In July 2026, the Company executed an amendment to the lease agreement for its Palo Alto, California facility that supports spacecraft design, systems engineering, and program management. The amendment extended the lease term by 17 years through July 2043 with an option to extend for an additional 10 years through July 2053, resulting in estimated remeasured right-of-use asset and lease liability of $109.1 million.
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