Related Party Transactions |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Related Party Transactions | |
| Related Party Transactions | Note 6. Related Party Transactions Loan agreements On October 10, 2025, certain members of Avalanche Treasury Company (the “Contributing Members”), considered related parties, entered into loan contribution agreements with Avalanche Treasury Company and the Company, an affiliate and related party, to fund formation and general and administrative expenses prior to the Business Combination (as defined in Note 1). The loans are unsecured, bear interest at 4.35% per annum compounded annually, and are repayable from the proceeds of the Business Combination or other available funds thereafter. Interest is computed on a 365-day basis and limited to the maximum rate permitted by law. As of December 31, 2025 the Company drew $91,500 on these notes and paid $91,500 on these notes. As of September 30, 2026 and December 31, 2025, there were no outstanding balances on these loans. During the three and nine months ended September 30, 2026, the Company paid $37,099 of withholding tax under Section 1446 of the Internal Revenue Code on behalf of foreign members of Avalanche Treasury Company for 2025, which is included in general and administrative expenses (see Note 4). Astral Horizon, L.P. Astral Horizon, L.P. is a related party because Robert Hadick, a member of the Company’s Board of Directors, is a manager of the entity that serves as the general partner of Astral Horizon, L.P. On August 20, 2026, the Company issued 2,000,000 shares of Class A common stock to Astral Horizon, L.P. in settlement of the post-closing share liability, which had a carrying amount of $1,000,000 (see Note 3). During the three months ended September 30, 2026, the Company repurchased 370,229 shares of Class A common stock from Astral Horizon, L.P. in privately negotiated transactions for an aggregate cost of $259,999 (see Note 5). The 2,000,000 Astral Earnout Shares held in escrow are described in Note 3. |