Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | NOTE 17 — Subsequent Events Debt Repayments During July and August 2026, the Company repaid $8.0 million of the principal owed under the Former Owner Bridge Loan, fully repaid $7.3 million of the principal owed under a Seller Note (as defined in Note 9 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus) owed to the former owner of an Operating Subsidiary that was acquired during the three months ended June 30, 2026, fully repaid the $3.6 million owed under the Former Owner Loan and made a $1.8 million principal repayment under the i80 Facility. The Proposed Warehouse Facility On August 4, 2026, the Company entered into a non-binding term sheet with a third-party lender providing for a proposed senior secured warehouse facility (the “Proposed Warehouse Facility”). The Proposed Warehouse Facility is subject to the negotiation and execution of definitive agreements and the satisfaction of customary closing conditions. The Proposed Warehouse Facility, if consummated, will provide committed capacity to fund the closing of acquisitions until the Company can find long-term financing through single company term loans or other sources. The Proposed Warehouse Facility, if consummated, will improve the predictability of the Company’s ability to have sufficient capital to close acquisitions and allow additional time to find an optimal long-term debt financing solution for acquired businesses. The non-binding term sheet does not obligate the lender to fund the Proposed Warehouse Facility unless and until definitive documentation is executed and all conditions are satisfied or waived. There can be no assurance that the Proposed Warehouse Facility will be consummated on the terms contemplated or at all.
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