XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.25.2

Subsequent Events | 3 Months Ended
--- | ---
Jun. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | 15. Subsequent Events One Big Beautiful Bill Act On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S., which contains a broad range of tax provisions affecting businesses. While the Company continues to evaluate the impact of this new legislation, we expect OBBBA to have a favorable impact on our income tax provision (benefit) for the quarter ended September 30, 2025, and for the fiscal year ended March 31, 2026. Stock Conversion and Stock Split On July 14, 2025, the Company's board of directors approved the Stock Conversion of all our outstanding Class A voting common stock and Class B non-voting common stock into a single class of common stock on a 1-for-1 basis and approved a 1.06555-for-1 Stock Split of the Company's common stock, including the shares of common stock underlying outstanding stock options. The par value of the Company’s common stock was not adjusted and 166,611,519 shares of Common Stock were outstanding as a result of the Stock Split. The Stock Split became effective after the Company's Registration Statement on Form S-1 was declared effective by the SEC and upon filing of the Company’s Second Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware, and the Company's Amended and Restated Bylaws (“Bylaws”) on July 23, 2025, in connection with the IPO. All share and per share data has been presented on the basis of this Stock Split for all the periods presented within these unaudited consolidated financial statements. Initial Public Offering On July 25, 2025, the Company completed an IPO in which the Company issued and sold 24,390,000 shares of our Common Stock at a public offering price of $17.00 per share. The Company received $385,698 in net proceeds, after deducting $21,768 of underwriting discounts and commissions and approximately $7,164 in estimated offering expenses. Upon the closing of the IPO, the Company used the net proceeds from the offering to repay $385,698 of debt outstanding under its A&E Term Loan Facility. The underwriters were granted a 30-day option to purchase up to an additional 3,658,500 shares of Common Stock from Platinum (the “Selling Stockholder”) solely to cover over-allotments. As of the date of this filing, the underwriters have not exercised this option. Prior to the IPO, deferred offering costs, which consist primarily of direct incremental legal, accounting, and consulting fees relating to the Company’s IPO, were capitalized within prepaid expenses and other current assets in the consolidated balance sheets. Upon the consummation of the IPO, these costs were reclassified into additional paid-in capital, as an offset against IPO proceeds. As of June 30, 2025, $12,680 of these IPO-related costs are included within prepaid expenses and other current assets on the consolidated balance sheet. Second Amended and Restated Certificate of Incorporation In connection with the consummation of the IPO, the Company’s Certificate of Incorporation became effective upon filing with the Secretary of State of the State of Delaware on July 23, 2025. In addition to certifying the Stock Conversion and Stock Split, the Certificate of Incorporation contains provisions that, among other things, (i) increased the total authorized Common Stock with a par value $0.01 per share to 2,000,000,000 and (ii) created and authorized 100,000,000 shares of preferred stock with a par value $0.01 per share. After the consummation of the IPO, we have 191,001,519 shares of our Common Stock outstanding and no shares of Preferred Stock outstanding. Platinum Advisors Fee Agreement On July 25, 2025, the Advisory Agreement was terminated in connection with the consummation of the IPO.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration