v3.26.1
Financial instruments (Tables)
6 Months Ended
Jun. 30, 2026
Disclosure of detailed information about financial instruments [abstract]  
Schedule of Material Differences Between the Fair Value and Carrying Amount
Material differences between the fair values and carrying amounts of these borrowings are identified as follows:
30 June
2026
Carrying AmountFair Value
Senior Secured First Lien Term Loan Facility 1,032,114 973,087 
2025 Convertible Bonds71,566 67,799 
1,103,680 1,040,886 
31 December
2025
Carrying AmountFair Value
Senior Secured First Lien Term Loan Facility1,031,565 1,108,552 
2025 Convertible Bonds68,367 72,765 
1,099,932 1,181,317 
Schedule of Fair Value on a Recurring Basis
The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments measured at fair value on a recurring basis as of 30 June 2026 and 31 December 2025:
30 June 2026
Level 1Level 2Level 3Total
Conversion Feature— — 33,895 33,895 
Predecessor Earn Out Shares— 2,500 — 2,500 
OACB Warrants2,287 — — 2,287 
2,287 2,500 33,895 38,682 
31 December 2025
Level 1Level 2Level 3Total
Conversion Feature— — 38,732 38,732 
Predecessor Earn Out Shares— 8,800 — 8,800 
OACB Warrants6,462 — — 6,462 
6,462 8,800 38,732 53,994 
Schedule of Assumptions and Inputs
The following table presents the assumptions and inputs that were used for the model in valuing the Conversion Feature:
30 June
2026
31 December
2025
Share price$3.69 $5.13 
Volatility rate36.8 %30.7 %
Risky Yield18.90 %16.20 %
The following table presents the assumptions and inputs that were used for the model in valuing the Predecessor Earn Out Shares:
30 June
2026
31 December
2025
Number of shares19,165,00019,165,000
Share price$3.69 $5.13 
Volatility rate76.0 %60.0 %
Risk-free rate4.00 %3.50 %