Reorganizations [Abstract]

Reconciliation of enterprise value to reorganization value


		July 31, 2025
Enterprise value	$	732,730
Plus: Cash and cash equivalents		11,667
Plus: Current liabilities excluding current maturities of long-term debt		218,079
Plus: Non-interest bearing noncurrent liabilities		125,993
Reorganization value of the reconstituted Successor	$	1,088,469

Schedule of consolidated and combined balance sheet


	As of July 31, 2025
	Predecessor		Reorganization Adjustments			Fresh Start Adjustments			Successor (a)
Assets
Current assets
Cash and cash equivalents	$	17,958	$	(6,291)	(1)	$	—		$	11,667
Restricted cash		30,743		—			—			30,743
Accounts receivable, net		38,187		74,467	(2)		—			112,654
Related party receivables and prepaid expenses		3,938		—			—			3,938
Inventories, net		6,508		—			—			6,508
Prepaid expenses and other current assets		32,164		(5,413)	(3)		—			26,751
Total current assets		129,498		62,763			—			192,261
Property, plant and equipment, net		42,785		—			30,330	(16)		73,115
Operating lease right-of-use assets, net		29,542		—			—			29,542
Goodwill		39,718		—			414,499	(17)		454,217
Intangible assets, net		119,032		—			201,741	(18)		320,773
Other noncurrent assets		16,297		2,264	(4)		—			18,561
Total assets	$	376,872	$	65,027		$	646,570		$	1,088,469

Liabilities and Stockholders' Equity (Deficit)
Liabilities
Current liabilities
Current portion of long-term debt	$	247,322	$	(217,344)	(5)	$	—		$	29,978
Accounts payable		23,008		19,115	(6)		—			42,123
Related party payables		39		1,311	(7)		—			1,350
Income tax payable		10,126		(7,814)	(8)		—			2,312
Accrued liabilities		21,181		20,185	(9)		—			41,366
Accrued compensation and benefits		25,376		8,562	(10)		—			33,938
Accrued interest		—		1,877	(11)		—			1,877
Customer deposits		83		17,696	(7)		—			17,779
Deferred revenue		9,701		—			—			9,701
Obligation for claim payment		53,176		—			—			53,176
Current portion of finance lease liabilities		4,884		290	(7)		—			5,174
Current portion of operating lease liabilities		9,283		—			—			9,283
Total current liabilities		404,179		(156,122)			—			248,057
Long-term debt, net of current maturities		1,465		305,591	(12)		—			307,056
Finance lease liabilities, net of current portion		7,303		—			—			7,303
Net defined benefit liability		1,069		—			—			1,069
Deferred income tax liabilities		13,721		35,793	(8)		—			49,514
Long-term income tax liabilities		8,496		(545)	(8)		—			7,951
Operating lease liabilities, net of current portion		22,533		—			—			22,533
Other long-term liabilities		288		37,335	(13)		—			37,623
Total liabilities not subject to compromise		459,054		222,052			—			681,106
Liabilities subject to compromise		1,424,479		(1,424,479)	(14)		—			—
Total liabilities		1,883,533		(1,202,427)			—			681,106

Stockholders' Equity (Deficit)
Predecessor's net parent investment		(1,498,817)		859,777	(15)		639,040	(19)		—
Predecessor's accumulated other comprehensive loss (income):
Foreign currency translation adjustment		(7,844)		314	(8)		7,530	(20)		—
Predecessor total accumulated other comprehensive loss (income)		(7,844)		314			7,530			—
Successor's common stock		—		8	(14)		—			8
Successor's paid-in-capital in excess of par		—		407,355	(14)		—			407,355
Total stockholder's equity (deficit)		(1,506,661)		1,267,454			646,570			407,363
Total liabilities and stockholder's equity (deficit)	$	376,872	$	65,027		$	646,570		$	1,088,469

Schedule of reorganization adjustments for current maturities of long-term debt


Reinstatement of liabilities subject to compromise	$	1,178,002
Borrowing from BR Exar Facility		8,000
Amortization of Unamortized Balance of Debt Issuance Cost		1,056
Issuance of Common Stock to holders of Allowed Notes Claims (April 2026 and July 2026 Noteholders)		(8)
Debt issuance costs related to BR Exar AR Facility		(1,400)
Paydown of the Second Lien Note		(1,500)
Gain on settlement of DIP Facility		(4,000)
Conversion of DIP Facility into Super Senior Term Loan		(6,000)
Repayment of Senior Secured Term Loan		(38,500)
Conversion of DIP Facility into July 2030 Notes		(175,000)
APIC generated on issuance of Successor common stock		(407,355)
Gain on reinstatement of current portion of debt		(770,639)
Total adjustments to current portion of long-term debt	$	(217,344)

Schedule of reinstatement of various liabilities from liabilities subject to compromise


Customer Deposits	$	17,696
Related Party Payable		1,311
Current portion of finance lease liabilities		290

Schedule of reorganization adjustments for accrued compensation and benefits


Reinstatement of Accrued Compensation and Benefits from liabilities subject to compromise	$	45,717
Gain on settlement of Accrued Compensation and Benefits		(7,031)
Amount transferred to long term		(30,124)
Total adjustments to accrued compensation and benefits	$	8,562

Schedule of reorganization adjustments for long-term debt, net of current maturities


Issuance of July 2030 Notes (a)	$	200,988
Borrowing from ABL Facility		58,653
Borrowing from Super Senior Term Loan		40,000
Conversion of DIP Facility to July 2030 Notes		6,000
Debt Issuance cost on Super Senior Secured Facility		(50)
Total adjustments to long-term debt, net of current maturities	$	305,591

(a)

Includes $18.0 million of principal amount of July 2030 Notes held by a subsidiary of the Company other than the issuer or a guarantor as of July 31, 2025 that are eliminated on consolidation.

Schedule of liabilities subject to compromise


Liabilities subject to compromise prior to the Emergence Date
Settled liabilities subject to compromise
Current portion of debt	$	1,178,002
Accounts payable		35,048
Accrued liabilities		25,565
Accrued compensation and benefits		45,717
Accrued Interest		118,272
Total settled liabilities subject to compromise	$	1,402,604

Reinstated liabilities subject to compromise
Customer deposits	$	17,696
Other long-term liabilities		2,578
Related party payables		1,311
Current portion of capital lease obligations		290
Total reinstated liabilities subject to compromise	$	21,875

Total liabilities subject to compromise	$	1,424,479


Issuance of common stock to holders of Allowed Notes Claims (April 2026 and July 2026 Noteholders)	$	(8)
Paid in capital in excess of par		(407,355)
Settlement of accounts payable as per the Plan		(23,748)
Settlement of accrued liabilities as per the Plan		(20,185)
Settlement of accrued compensation and benefit as per the Plan		(38,686)
Settlement of accrued interest as per the Plan		(10,460)
Reinstated liabilities subject to compromise		(21,875)
Gain on settlement of liabilities subject to compromise	$	902,162

Schedule of setting up to fair value of intangible assets


	Predecessor			Fresh Start Adjustments		Successor
Intangible Assets, Net
Customer relationships	$	90,344	$	173,656	$	264,000
Internally developed software		7,290		30,510		37,800
Purchased software		15,008		—		15,008
Trade names		5,300		(2,425)		2,875
Outsourced contract costs		1,090		—		1,090
Total	$	119,032	$	201,741	$	320,773