$125.0 million in cash, the fixed-price component of Ridgepost Capital Inc.'s (RPC) purchase of Stellus Capital Management, LLC, settled at the June 22, 2026 closing. Full consideration also included 11,191,149 LLC membership units of Ridgepost Capital, LLC and 579,096 shares of RPC Class A Common Stock, with those units exchangeable into Class A shares on a one-for-one basis. Pro forma total assets as of March 31, 2026 reached $1.162 billion, against $909.7 million for standalone Ridgepost on the same date.
Balance sheet mechanics
The purchase agreement was signed February 4, 2026. Debt obligations rose $139.0 million on a pro forma basis, from $375.0 million to $514.0 million, consistent with financing the cash leg of the transaction. The purchase price allocation assigned $178.4 million to intangibles and $55.3 million to goodwill, together $233.7 million of the $241.7 million in total transaction accounting adjustments to assets. Noncontrolling interests expanded to $149.9 million pro forma from $52.1 million, reflecting the unit consideration issued to Stellus sellers.
Pro forma revenue run-rate
Combined management and advisory fees for Q1 2026 reached $82.2 million pro forma: $73.6 million from Ridgepost, $8.6 million from Stellus. Stellus's quarter represents 10.4 percent of the combined fee line. Total pro forma revenues, including $1.4 million in other revenues, came to $83.6 million for the quarter, annualizing to roughly $334 million. Pro forma total operating expenses were $62.5 million, including $7.5 million in intangible amortization, up $2.1 million from the Ridgepost-only figure because of the acquired intangibles.
The equity consideration carries a three-year lock-up. One-third of shares beneficially held by each Stellus seller becomes freely transferable on the first anniversary of the June 22 closing, another third on the second, and the balance on the third. Sellers also received registration rights as members of Ridgepost LLC. The governing exchange agreement dates to August 25, 2022, with the Stellus sellers joining via joinder at close. Ridgepost notes the pro forma statements, prepared under Article 11 of Regulation S-X, exclude integration costs and any synergy benefits.