v3.26.1
Derivative Financial Instruments (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Derivative Financial Instruments    
Schedule of quantitative information regarding market assumptions used in the Level 3 valuation of the PIPE subscription

  ​ ​ ​

April 20, 2026

  ​ ​ ​

June 30, 2026

Expected term to De-SPAC (Years)

0.4

0.3

Warrant term

5.0

5.0

Probability of De-SPAC and Market Adjustment

64.0

%  

73.0

%

Forward Risk-Free Rate (Continuous

3.88

%  

4.18

%

Volatility

19.5

%  

40.0

%

Redemption trigger price

$

35.00

$

35.00

Floor price

$

7.28

$

7.28

 
Forge Nano, Inc.    
Derivative Financial Instruments    
Summary of warrants

  ​ ​ ​

Warrant Shares

June 30,

  ​ ​ ​

December 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

Beginning balance

313,127

339,299

Granted

Exercised

 

 

(26,172)

Expired

 

 

Ending balance

 

313,127

 

313,127

Warrant Shares

  ​ ​ ​

2025

  ​ ​ ​

2024

Beginning balance

 

339,299

404,729

Granted

 

Exercised

 

(26,172)

(65,430)

Expired

 

Ending balance

 

313,127

339,299

Summary of fair value of derivatives

  ​ ​ ​

June 30,

  ​ ​ ​

December 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

Derivatives not designated as hedging instruments:

Warrants issued in conjunction with the 2023 issuances of Series C preferred stock and long-term debt

 

14,965

 

5,624

Total derivatives not designated as hedging instruments

 

$

14,965

 

$

5,624

  ​ ​ ​

2025

  ​ ​ ​

2024

Derivatives not designated as hedging instruments:

 

  ​

  ​

Conversion feature embedded in convertible debt (Note 16)

$

$

393

Warrants issued in conjunction with the 2023 issuances of Series C preferred stock and long-term debt

 

5,624

 

6,264

Total derivatives not designated as hedging instruments

$

5,624

$

6,657

Schedule of quantitative information regarding market assumptions used in the Level 3 valuation of the PIPE subscription The following inputs and assumptions were used to value the warrants during as of June 30, 2026 and December 31, 2025:

  ​ ​ ​

Warrants

  ​ ​ ​

June 30,

December 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

Expected volatility

50.00

%  

50.00

%

Risk-free rate

4.47

%  

4.17

%

Event date

September 30, 2026

June 4, 2026

 

Term (in years)

0.17

0.68

 

The following inputs and assumptions were used to value the warrants during as of December 31, 2025 and 2024:

  ​ ​ ​

Warrants

 

  ​ ​ ​

2025

  ​ ​ ​

2024

Expected volatility

 

50.00

%

50.00

%

Risk-free rate

 

4.17

%

4.58

%

Event date

June 4, 2026

December 5, 2024

Term (in years)

 

0.68

 

0.93

  ​ ​ ​

Conversion Feature

 

  ​ ​ ​

2025

  ​ ​ ​

2024

Expected volatility

 

50.00

%

Risk-free rate

 

3.80

%

Event date

July 5, 2024

Term (in years)

 

 

2.53

Summary of gain or loss recognized in the statement of operations attributable to derivative instruments

Amount of Loss Recognized in Earnings

Reported in Statement

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

of Operations

Derivative - conversion feature embedded in convertible debt (Note 16)

$

$

Interest expense

Change in fair market value

 

536

 

366

 

Interest expense