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Subsequent Events | 12 Months Ended
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Dec. 31, 2024
Subsequent Events [Abstract] |
Subsequent Events | Note 19. Subsequent Events Second Amended and Restated Senior Secured Credit Facilities On January 30, 2025, the Company’s wholly owned subsidiary, Emerald X, Inc. (“Emerald X”) entered into the Second Amended and Restated Senior Secured Credit Facilities with a syndicate of lenders and Bank of America, N.A., as administrative agent, providing for (i) a seven-year $515.0 million senior secured term loan facility (the “Term Loan Facility”), scheduled to mature on January 30, 2032 and (ii) a $110.0 million senior secured revolving credit facility (the “Revolving Credit Facility”), scheduled to mature on January 30, 2030. A portion of the proceeds of the Term Loan Facility were used to refinance all existing loans outstanding under Emerald X’s previously existing Amended and Restated Senior Secured Credit Facilities, and to pay costs and expenses in connection with the refinancing. The balance of the proceeds of the Term Loan Facility remained on the balance sheet of Emerald X and may be used from time to time for general business purposes, including the financing of acquisitions. The Revolving Credit Facility was not drawn at the closing of the refinancing and may be used from time to time for general business purposes, including the financing of acquisitions. Dividends Declared On February 25, 2025, the Company’s Board of Directors declared a dividend for the quarter ending March 31, 2025 of $0.015 per share payable on March 20, 2025 to holders of the Company’s common stock as of March 10, 2025. Acquisitions On March 13, 2025, the Company signed an agreement to acquire the stock of This is Beyond Ltd., a London-based organizer of B2B trade shows serving the global luxury travel industry, for an aggregate purchase price of approximately $134.0 million. The Company expects to close the transaction during the second quarter of fiscal year 2025, subject to the satisfaction of customary closing conditions. On March 13, 2025, the Company executed a share purchase agreement to acquire the associated assets and liabilities of Insurtech Insights, a premier operator of large-scale insurance conferences across the US, Europe, and Asia. The purchase price consideration of the transaction was approximately $26.0 million plus future contingent payments based on business performance. The Company funded this transaction with cash from operations. The initial accounting and fair value measurements of assets acquired and liabilities assumed necessary to develop the purchase price allocation has not been completed.

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- 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
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