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ROI Transfers of White River Common Stock | 12 Months Ended
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Dec. 31, 2024
Roi Transfers Of White River Common Stock |
ROI Transfers of White River Common Stock | 22. ROI Transfers of White River Common Stock In January 2024, ROI announced that it had concluded that, for regulatory reasons, ROI would be unable to effect the distribution of its shares of common stock of White River as contemplated by a registration statement previously filed by White River. During the year ended December 31, 2024, ROI transferred 12.0 million shares of White River common stock with a fair value of $19.2 million at the date of transfer to certain of its accredited investors to resolve the matters discussed above. In conjunction with the transfers to non-controlling interests, shares of ROI’s investment in White River’s Series A Convertible Preferred Stock were converted into shares of White River common stock, resulting in a non-cash $17.9 million gain on conversion.

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