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Organization and Nature of Business<div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of Business and Operations</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Securitize Holdings, Inc. (the “Company”) was incorporated in Delaware on October 17, 2025, as a wholly owned holding company of Securitize I, Inc. (f/k/a Securitize, Inc.) (“Old Securitize”). The Company was formed for the purpose of facilitating future corporate structuring and financing transactions. As of June 30, 2026, the Company had no operations other than its formation, the issuance of 10,000 shares of common stock to Old Securitize for total cash consideration of $1, and matters incidental to the Business Combination described below.</span></div><div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business Combination</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Consistent with its purpose of facilitating future corporate structuring and financing transactions, on October 27, 2025, the Company, Old Securitize, Cantor Equity Partners II, Inc. (“CEPT”), a special purpose acquisition company, and certain merger subsidiaries entered into a Business Combination Agreement (the “Business Combination Agreement” or the “Merger Agreement”) to effect a business combination between CEPT and Old Securitize (the “Business Combination”).</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Business Combination was structured to be completed through a series of transactions, including (i) the merger of CEPT with and into Pinecrest Merger Sub, a wholly owned subsidiary of the Company (“CEPT Merger Sub”), with CEPT Merger Sub surviving as a wholly owned subsidiary of the Company, and (ii) a subsequent merger of Senna Merger Sub, Inc., a wholly owned subsidiary of CEPT (“Securitize Merger Sub”), with and into Old Securitize, with Old Securitize continuing as the surviving entity and becoming a wholly owned subsidiary of the Company. Upon completion of these transactions, the Company would become the publicly traded parent company of Old Securitize.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Business Combination, certain investors agreed to subscribe for shares of common stock in a private placement (the “PIPE Investment”), subject to the terms and conditions of the applicable subscription agreements, dated as of October 27, 2025. The PIPE Investment was funded on the Closing Date, at which time the subscribers purchased an aggregate of 19,782,000 CEPT Class A ordinary shares (the “PIPE Shares”), which were subsequently exchanged for shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a purchase price of $10.00 per share, for an aggregate purchase price of approximately $197.8 million. See Note 5 — Subsequent Events.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2026, CEPT’s shareholders had approved the Business Combination at a special meeting held on June 29, 2026, and the consummation of the Business Combination remained subject to the satisfaction or waiver of the remaining customary closing conditions. The Business Combination was subsequently consummated on July 1, 2026. See Note 5 – Subsequent Events for a discussion of the consummation of the Business Combination.</span></div>

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<div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business Combination</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Consistent with its purpose of facilitating future corporate structuring and financing transactions, on October 27, 2025, the Company, Old Securitize, Cantor Equity Partners II, Inc. (“CEPT”), a special purpose acquisition company, and certain merger subsidiaries entered into a Business Combination Agreement (the “Business Combination Agreement” or the “Merger Agreement”) to effect a business combination between CEPT and Old Securitize (the “Business Combination”).</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Business Combination was structured to be completed through a series of transactions, including (i) the merger of CEPT with and into Pinecrest Merger Sub, a wholly owned subsidiary of the Company (“CEPT Merger Sub”), with CEPT Merger Sub surviving as a wholly owned subsidiary of the Company, and (ii) a subsequent merger of Senna Merger Sub, Inc., a wholly owned subsidiary of CEPT (“Securitize Merger Sub”), with and into Old Securitize, with Old Securitize continuing as the surviving entity and becoming a wholly owned subsidiary of the Company. Upon completion of these transactions, the Company would become the publicly traded parent company of Old Securitize.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Business Combination, certain investors agreed to subscribe for shares of common stock in a private placement (the “PIPE Investment”), subject to the terms and conditions of the applicable subscription agreements, dated as of October 27, 2025. The PIPE Investment was funded on the Closing Date, at which time the subscribers purchased an aggregate of 19,782,000 CEPT Class A ordinary shares (the “PIPE Shares”), which were subsequently exchanged for shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a purchase price of $10.00 per share, for an aggregate purchase price of approximately $197.8 million. See Note 5 — Subsequent Events.</span></div>As of June 30, 2026, CEPT’s shareholders had approved the Business Combination at a special meeting held on June 29, 2026, and the consummation of the Business Combination remained subject to the satisfaction or waiver of the remaining customary closing conditions. The Business Combination was subsequently consummated on July 1, 2026.

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Summary of Significant Accounting Policies<div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying financial statements (the “financial statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC applicable to interim financial information. In the opinion of management, the financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position as of the dates presented, and the results of any interim period are not necessarily indicative of the results to be expected for the full fiscal year. Separate statements of operations and cash flows have not been presented in the financial statements because the Company has not commenced operations and there were no activities in the Company during the six months ended June 30, 2026 other than those incidental to its formation and the matters contemplated by the Merger Agreement.</span></div><div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Judgments and Estimates</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in these financial statements. Actual results could differ from those estimates.</span></div><div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Petty Cash</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Petty cash consists of cash on hand. The Company does not maintain a bank account.</span></div><div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Organizational and Offering Costs</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Any organizational costs related to the incorporation of the Company have been paid by Old Securitize on behalf of the Company and recorded as an expense of Old Securitize.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Organizational costs, including legal fees, registration fees, and other costs related to the formation of the Company, will be expensed as incurred in accordance with applicable accounting standards. Offering costs, such as legal, accounting, and printing fees directly associated with the issuance of equity or debt securities, will be deferred and offset against the proceeds of the related offering.</span></div><div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Related Party Transactions</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Old Securitize is the sole owner of the Company. Any organizational costs incurred in connection with the formation of the Company have been and will continue to be paid by Old Securitize on behalf of the Company, if applicable. Accordingly, such payments, if made, would represent related party transactions.</span></div>

<div style="margin-bottom:3pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div>The accompanying financial statements (the “financial statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC applicable to interim financial information. In the opinion of management, the financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position as of the dates presented, and the results of any interim period are not necessarily indicative of the results to be expected for the full fiscal year. Separate statements of operations and cash flows have not been presented in the financial statements because the Company has not commenced operations and there were no activities in the Company during the six months ended June 30, 2026 other than those incidental to its formation and the matters contemplated by the Merger Agreement

Stockholder’s Equity<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Company was incorporated on October 17, 2025 (inception) and issued 10,000 shares of common stock with a par value of $0.0001 per share to Old Securitize for total cash consideration of $1. As of June 30, 2026, the Company had no operations other than its formation and capitalization. There were no changes in the Company’s common stock during the six months ended June 30, 2026.</span></div>On July 1, 2026, in connection with the consummation of the Business Combination, the Company amended and restated its certificate of incorporation. See Note 5 – Subsequent Events

10000

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Commitments and Contingencies<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2026, the Company did not have any long-term debt, capital lease obligations, operating lease obligations, or purchase obligations. Other than the Company’s obligations under the Merger Agreement and the related agreements entered into in connection with the Business Combination, the Company was not a party to any material commitments or contingencies as of June 30, 2026. In addition, pursuant to the subscription agreements governing the PIPE Investment, the Company agreed to file a registration statement registering the resale of the shares of Common Stock into which the PIPE Shares were converted within 30 calendar days after the Closing Date, and to use commercially reasonable efforts to have such registration statement declared effective. See Note 5 — Subsequent Events.</span></div>

Subsequent Events<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Management has evaluated subsequent events through August 13, 2026, which is the date the financial statements were available to be issued.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Consummation of the Business Combination. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">On July 1, 2026 (the “Closing Date”), the Company, CEPT, Old Securitize, CEPT Merger Sub and Securitize Merger Sub consummated the transactions contemplated by the Merger Agreement, following approval by CEPT’s shareholders at a special meeting held on June 29, 2026. Pursuant to the Merger Agreement, the Business Combination was effected through (i) the merger of CEPT with and into CEPT Merger Sub, with CEPT Merger Sub surviving as a wholly owned subsidiary of the Company, and (ii) the merger of Securitize Merger Sub with and into Old Securitize, with Old Securitize surviving as a wholly owned subsidiary of the Company. On the Closing Date, the Company changed its name from “Securitize Holdings, Inc.” to “Securitize Corp.”</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting for the Business Combination.</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Business Combination has been accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded, in accordance with U.S. GAAP. Under this method of accounting, CEPT did not meet the definition of a “business” under ASC 805, </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 805”), and is treated as the “acquired” company for financial reporting purposes. Old Securitize was determined to be the accounting acquirer because existing Old Securitize stockholders, as a group, retained the largest portion of the voting rights in the combined entity, the executive officers of PubCo were appointed by Old Securitize, a majority of the board of directors of PubCo was appointed by Old Securitize, Old Securitize represents a significant majority of the operations of PubCo, and the operations of Old Securitize are the continued operations of PubCo. Accordingly, the Business Combination is treated as the equivalent of Old Securitize issuing stock for the net assets of CEPT, accompanied by a recapitalization, and the net assets of CEPT are stated at historical cost. As a result, the historical financial statements of Old Securitize will become the historical financial statements of the Company for periods prior to the Business Combination, and the financial statements of PubCo included in this Quarterly Report on Form 10-Q will not serve as the comparative basis for the Company’s financial statements in future periods.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Redemptions. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the special meeting and the Business Combination, holders of 6,842,508 shares of CEPT Class A ordinary shares, or approximately 28.5% of the shares with redemption rights, exercised their right to redeem their shares for cash at a redemption price of approximately $10.60 per share, for an aggregate redemption amount of approximately $72.5 million.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Merger Consideration. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">At the effective time of the Merger (the “Effective Time”), each CEPT Class A ordinary share and each CEPT Class B ordinary share was converted into and exchanged for one share of Common Stock. Immediately prior to the Effective Time, (i) each share of Old Securitize preferred stock issued and outstanding was automatically converted into one share of Old Securitize common stock, and (ii) each share of Old Securitize common stock was converted into and exchanged for approximately 4.4439 shares of Common Stock (the “Exchange Ratio”). Outstanding Old Securitize options, warrants, convertible promissory notes and simple agreements for future equity were treated as described in the Super 8-K. No fractional shares of Common Stock were issued; fractional shares were rounded down to the nearest whole share. In addition, the holders of Old Securitize common stock, equity awards and warrants are entitled to receive up to 6,250,000 additional shares of Common Stock (the “Earnout Shares”), issuable in three equal tranches if the volume-weighted average price of the Common Stock exceeds $15.00, $20.00 and $25.00, respectively, in each case for 20 out of any 30 consecutive trading days commencing 90 days after the Closing Date and ending on the fifth anniversary of the Closing Date. Separately, 1,800,000 of the 6,000,000 shares of Common Stock issued to Cantor EP Holdings II, LLC (the “Sponsor”) at the Closing (the “Sponsor Earnout Shares”) are issued and outstanding but remain subject to vesting, potential forfeiture and related transfer restrictions, and will vest in three equal tranches if the volume-weighted average price of the Common Stock exceeds $12.50, $15.00 and $17.50, respectively, over the same measurement periods. The Earnout Shares are not included in, and the Sponsor Earnout Shares are included in, the shares of Common Stock outstanding as of the Closing Date described below. The Earnout Shares and the Sponsor Earnout Shares are classified as liabilities measured at fair value, which will be remeasured at each reporting date with changes recognized in earnings.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">PIPE Investment. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">On the Closing Date, a number of purchasers subscribed for and purchased an aggregate of 19,782,000 shares of CEPT Class A ordinary shares (subsequently exchanged for shares of Common Stock) at a purchase price of $10.00 per share, for an aggregate purchase price of approximately $197.8 million, pursuant to separate subscription agreements entered into concurrently with the Merger Agreement.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Capitalization Following the Business Combination. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">As of the Closing Date and following the completion of the Business Combination, the Company had outstanding 163,265,685 shares of Common Stock, which excludes (i) up to 6,250,000 Earnout Shares that may be issued upon the achievement of the applicable thresholds; (ii) 16,321,869 shares of Common Stock reserved for issuance pursuant to the Omnibus Incentive Plan and the Employee Stock Purchase Plan; (iii) 3,711,658 shares of Common Stock issuable upon exercise of the warrants assumed from Old Securitize, of which the first tranche of 927,916 such warrants has vested; and (iv) 3,681,510 shares of Common Stock issuable upon exercise of exchanged options and vesting of exchanged restricted stock units. The Company’s Common Stock was held of record by 152 holders as of the Closing Date.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Amended and Restated Charter Documents. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">On July 1, 2026, the Company’s amended and restated certificate of incorporation became effective upon filing with the Secretary of State of the State of Delaware, and the Company’s amended and restated bylaws became effective as of the Effective Time. The amended and restated certificate of incorporation authorizes the issuance of 300,000,000 shares, consisting of 290,000,000 shares of Common Stock, $0.0001 par value per share, and 10,000,000 shares of preferred stock, $0.0001 par value per share.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Listing on the NYSE. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Business Combination, CEPT requested that The Nasdaq Stock Market LLC (“Nasdaq”) suspend trading of CEPT Class A ordinary shares effective July 2, 2026 and filed a Form 25 to delist such shares, and CEPT Class A ordinary shares ceased trading on Nasdaq effective July 2, 2026. On July 2, 2026, the Company’s Common Stock began trading on the New York Stock Exchange under the trading symbol “SECZ.”</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Related Agreements. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Business Combination, on the Closing Date the Company entered into an amended and restated registration rights agreement (pursuant to which holders of approximately 126 million shares of Common Stock became entitled to certain registration rights), lock-up agreements with certain stockholders, and indemnification agreements with each of its directors and executive officers. The lock-up agreements restrict transfers of the covered shares until the date that is 180 days after the Closing Date, subject to early release of one-third of the covered shares if the volume-weighted average price of the Common Stock exceeds $15.00, $17.50 and $20.00, respectively, in each case for 20 out of any 30 consecutive trading days commencing 90 days after the Closing Date. Prior to the Closing, the Company adopted an Omnibus Incentive Plan and an Employee Stock Purchase Plan, each of which became effective upon the Closing, and the board of directors adopted a new Code of Business Conduct and Ethics. On the Closing Date, the Company, Old Securitize and J Digital 6 LLC also entered into a Warrant Assumption and Amendment Agreement in connection with the assumption of the Old Securitize warrants described above. Pursuant to a Sponsor Support Agreement entered into concurrently with the Merger Agreement, the Sponsor agreed to surrender, for no consideration, up to 30% of its CEPT Class B ordinary shares immediately prior to and conditioned upon the Closing, based on a formula taking into account the number of CEPT Class A ordinary shares redeemed and the gross proceeds of the PIPE Investment; no such shares were surrendered upon the Closing. The Sponsor Support Agreement also shortened the lock-up applicable to the shares of Common Stock issued to the Sponsor from one year to 180 days, with one-third of such shares subject to early release if the volume-weighted average price of the Common Stock exceeds $12.50, $15.00 and $17.50, respectively, over the same measurement periods described above. On July 8, 2026, the Company and the Sponsor entered into an addendum to the lock-up agreements clarifying that the transfer restrictions thereunder do not apply to shares of Common Stock received in exchange for CEPT Class A ordinary shares purchased in the open market or in the PIPE Investment prior to the Effective Time.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Change in Control. </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the completion of the Business Combination, a change in control of CEPT occurred, and the stockholders of CEPT as of immediately prior to the Closing held approximately 14.5% of the outstanding shares of Common Stock immediately following the Closing. A change in control of the Company also occurred, as the Company ceased to be a wholly owned subsidiary of Old Securitize and became a widely held public company.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Resale Registration Statement.</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> On July 31, 2026, the Company filed a registration statement on Form S-1 registering the resale of 151,568,524 shares of Common Stock, in satisfaction of its obligations under the subscription agreements governing the PIPE Investment and the amended and restated registration rights agreement described above.</span></div><div><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Other than as described above, management has determined that there were no other subsequent events that require recognition or disclosure in the financial statements.</span></div>

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