Member's Equity	6 Months Ended
Jun. 30, 2024
Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Member's Equity	3. Member’s Equity As provided for in the LLC Agreement, NDB LLC held 100% of the limited liability company interests of the Company as of June 30, 2024. The Company’s limited liability company interests were generally consistent with ordinary equity ownership interests. The Company was capitalized with a deemed non-cash contribution of $1,000 from NDB LLC on September 27, 2023. Distributions (including liquidating distributions) are to be made to the sole member at a time to be determined by the board of managers. There are no restrictions on distributions. The sole member’s equity account will be adjusted for distributions paid to, and additional capital contributions that are made by the sole member. All revenues, costs and expenses of the Company are allocated to the sole member in accordance with the LLC Agreement. Under the A&R LLC Agreement, the Company is authorized to issue an unlimited number of additional limited liability company interests of any type without the approval of our shareholders, subject to the rules of the New York Stock Exchange. The Company has two classes of authorized equity securities outstanding: Class A shares and Class B shares representing limited liability company interests (“Class B shares” and, together with Class A shares, “common shares”). Our Class B shares have no economic rights but entitle holders to one vote per Class B share on all matters to be voted on by shareholders generally. Holders of Class A shares and Class B shares will vote together as a single class on all matters presented to our shareholders for their vote or approval, except as otherwise required by applicable law or by the A&R LLC Agreement. Only the Class A shares will have economic rights and entitle holders to participate in any dividends our board of directors may declare. Following the Offering, including the underwriters’ option, and the concurrent private placement, the Company has the following outstanding common shares: • 17,425,000 shares of Class A shares, and • 55,726,603 shares of Class B shares

Member's Equity

6 Months Ended

Jun. 30, 2024

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Member’s Equity

As provided for in the LLC Agreement, NDB LLC held 100% of the limited liability company interests of the Company as of June 30, 2024. The Company’s limited liability company interests were generally consistent with ordinary equity ownership interests. The Company was capitalized with a deemed non-cash contribution of $1,000 from NDB LLC on September 27, 2023.

Distributions (including liquidating distributions) are to be made to the sole member at a time to be determined by the board of managers. There are no restrictions on distributions. The sole member’s equity account will be adjusted for distributions paid to, and additional capital contributions that are made by the sole member. All revenues, costs and expenses of the Company are allocated to the sole member in accordance with the LLC Agreement.

Under the A&R LLC Agreement, the Company is authorized to issue an unlimited number of additional limited liability company interests of any type without the approval of our shareholders, subject to the rules of the New York Stock Exchange. The Company has two classes of authorized equity securities outstanding: Class A shares and Class B shares representing limited liability company interests (“Class B shares” and, together with Class A shares, “common shares”). Our Class B shares have no economic rights but entitle holders to one vote per Class B share on all matters to be voted on by shareholders generally. Holders of Class A shares and Class B shares will vote together as a single class on all matters presented to our shareholders for their vote or approval, except as otherwise required by applicable law or by the A&R LLC Agreement. Only the Class A shares will have economic rights and entitle holders to participate in any dividends our board of directors may declare. Following the Offering, including the underwriters’ option, and the concurrent private placement, the Company has the following outstanding common shares:

•

17,425,000 shares of Class A shares, and

•

55,726,603 shares of Class B shares