Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 429

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 429
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 (expense), net” in our consolidated statements of operations, with no comparable amounts for the two months ended February 28, 2022 or the ten months
ended December 31, 2022. In March 2022, we sold all of our interest in one of our investments for $3.4 million, resulting in a loss of $1.0 million, which was recognized in “Other income (expense), net” in our consolidated
statements of operations. In December of 2022, we converted a portion of one of our investments with a basis of $24.9 million into preferred shares in the investment and redeemed the remainder, resulting in a loss of $4.7 million, which
was recognized in “Other income (expense), net” in our consolidated statements of operations, and $13.1 million of cash proceeds. In December of 2023, we purchased preferred shares in two separate companies at a total cost of
$11.4 million.

(e) Loan Receivables

The Company had loan receivables of $63.8 million and $68.9 million as of December 31, 2023 and 2024, respectively, from certain
separate privately and publicly held companies that it is holding for long-term investment, which are presented within “Other assets” on our consolidated balance sheets at amortized cost, net of the allowance for credit losses. As of
December 31, 2023 and 2024, $1.3 million and $1.5 million, respectively, of accrued interest receivable related to our loan receivables was recorded in “Prepaid expenses and other current assets” in our consolidated balance
sheets. We recognized interest income related to our loan receivables of $0.7 million, $2.4 million, $6.6 million and $7.9 million during the two months ended February 28, 2022, ten months ended December 31, 2022, year
ended December 31, 2023, and year ended December 31, 2024, respectively.

The fair value of loan receivables is evaluated on a loan-by-loan basis, and is determined based on assessments of discounted cash flows that are considered probable of collection. We consider the inputs used to determine the
fair value of the loan receivables to be Level 3 within the fair value hierarchy under ASC 820. The cumulative fair value of our loan receivables as of December