Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interests

v3.23.2
Non-Controlling Interests
6 Months Ended
Jun. 30, 2023
Non-Controlling Interests  
Non-Controlling Interests

11. Non-Controlling Interests

Non-controlling interests in consolidated entities are as follows:

For the Six Months Ended

    

    

    

    

 

June 30, 2023

As of June 30, 2023

 

Net loss attributable to

Non-controlling interests

Non-controlling

 

($ in thousands)

non-controlling interests

in consolidated entities

ownership

 

Urica

$

(1,301)

$

(4,806)

 

34.5

%

Avenue2

 

(9,860)

 

(4,981)

 

89.4

%

Cellvation

 

(47)

 

(1,926)

 

21.3

%

Checkpoint1

 

(21,978)

 

(20,204)

 

86.8

%

Coronado SO

 

 

(290)

 

13.0

%

Cyprium

 

(741)

 

(4,742)

 

28.3

%

Helocyte

 

33

 

(5,911)

 

17.5

%

JMC1

 

(8,104)

 

19

 

45.1

%

Mustang2

 

(26,127)

 

10,848

 

79.1

%

Oncogenuity

 

(8)

 

(1,665)

 

27.0

%

Tamid

 

 

(794)

 

22.8

%

Total

$

(68,133)

$

(34,452)

 

  

For the Year Ended

    

    

 

December 31, 2022

As of December 31, 2022

 

Net loss attributable to 

Non-controlling interests 

Non-controlling 

 

($ in thousands)

non-controlling interests

    

 in consolidated entities

    

 ownership

 

Urica

$

(1,251)

$

(3,908)

 

34.5

%

Aevitas4

 

(425)

 

(5,753)

 

45.9

%

Avenue2

 

(2,355)

 

3,054

 

82.0

%

Baergic3

 

(113)

 

 

39.0

%

Cellvation

 

(102)

 

(1,791)

 

21.7

%

Checkpoint1

 

(48,406)

 

(16,008)

 

81.5

%

Coronado SO

 

 

(291)

 

13.0

%

Cyprium

 

(1,173)

 

(3,817)

 

29.8

%

Helocyte

 

(122)

 

(5,900)

 

18.3

%

JMC1

 

(12,458)

 

7,429

 

41.6

%

Mustang2

 

(60,821)

 

37,640

 

82.7

%

Oncogenuity

 

(111)

 

(1,575)

 

24.9

%

Tamid

 

(1)

 

(776)

 

22.8

%

Total

$

(127,338)

$

8,304

 

Note 1:

Checkpoint and JMC are consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Class A Common Shares which provide super-majority voting rights.

Note 2:

Avenue and Mustang are consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Class A Preferred Shares which provide super-majority voting rights.

Note 3:  Fortress’ ownership in Baergic was transferred to Avenue as of November 7, 2022 (see Note 15).

Note 4:  Effective April 21, 2023, Aevitas ceased to be a controlled Fortress entity and as such is no longer consolidated (see Note 3).