On November 13, 2024, the Company entered into the Purchase Agreement to sell its maritime business to Buyer. On April 25, 2025, the Company completed the sale of its maritime business to Buyer for approximately $238,948, which reflected an increase to the original purchase price to account for funds contributed by the Buyer toward the Settlement. The Company recognized a gain of $154,305 on the sale, which is included in gain on sale of a business in the condensed consolidated statement of operations for the three and nine months ended September 30, 2025.

The maritime business generated income before income taxes of approximately $283 and $4,187 for the three and nine months ended September 30, 2025, respectively, and $6,867 and $13,062 for the three and nine months ended September 30, 2024, respectively.