Long-Term Debt and Borrowing Arrangements |
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| Long-Term Debt and Borrowing Arrangements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt and borrowing arrangements | 6. Long-term debt and borrowing arrangements Indebtedness consisted of:
(1) $0.5 million demand note; repaid in full February 2026. (2) €1.5 million term loan due April 2026; repaid in full April 2026. (3) $0.25 million demand note; repaid in full May 2026.
The Company's debt is carried at amortized cost. Fair values are estimated based on quoted market prices for similar instruments. The Company considers its debt to be Level 2 in the fair value hierarchy.
The estimated fair value of the $5.5 million revolving credit arrangement, $15.0 million revolving credit arrangement and Deferred Loan Settlement as of June 30, 2026 was $2.2 million, $3.5 million and $6.2 million, respectively. The estimated fair value of the €7.0 million term loan, $5.5 million revolving credit arrangement and Deferred Loan Settlement as of December 31, 2025 was $2.0 million, $3.3 million and $5.9 million, respectively.
$5.5 million revolving credit arrangement The Company has a revolving credit arrangement with Infinite Acquisitions Partners LLC (“Infinite Acquisitions”) for $5.5 million. The arrangement matures on September 30, 2034 and has a variable interest rate of the three-month Secured Overnight Financing Rate on the first day of the applicable quarter plus 2.75%.
$15.0 million revolving credit arrangement
In November 2025, the Company entered into a revolving credit arrangement between Falcon's Attractions, LLC and Infinite Acquisitions Partners LLC (“Infinite Acquisitions”) for $15.0 million. The arrangement matures on September 30, 2030 and has a variable interest rate of the three-month Secured Overnight Financing Rate on the first day of the applicable quarter plus 2.75%. €7.0 million term loan In March 2019, the Company entered into an eight-year €7.0 million term loan with a Spanish bank, with a variable interest rate at six-month Euribor plus 2.00%. The loan was interest only for the first eighteen months, thereafter principal and interest are payable monthly in arrears. The loan is collateralized by the Company’s investment in PDP and matures in April 2027. $0.9 million term loan Falcon's Opco has a one-year $0.9 million term loan with Katmandu Ventures, LLC (“Katmandu Ventures”). The loan bears a fixed interest rate at 11.75% per annum. Interest and principal payments were due May 16, 2025. As of June 30, 2026, accrued interest on the loan is included in Interest expense in the unaudited condensed consolidated statements of operations and comprehensive income (loss). The Company is in negotiations to amend the loan. Deferred Loan Settlement The Company and FAST Sponsor II LLC (“FAST”) entered into a Confidential Settlement Agreement and Release, dated as of November 26, 2025 pursuant to which the Company paid an upfront settlement payment of $2.5 million on December 1, 2025, and agreed to pay FAST a deferred settlement payment of $7.0 million on or before January 31, 2027 (the “Deferred Loan Settlement”). |
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