v3.25.1
Related Party Transactions
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions
15.
Related Party Transactions
The Company was a party to a management and financial advisory services agreement with a company owned by one of its members. The fees for financial advisory services were negotiated in good faith by both parties on a
case-by-case
basis. For financial oversight and monitoring services, the Company paid a fixed monthly fee under the terms of the agreement. During the three months ended March 31, 2025 and 2024, the Company incurred fees under the agreement of $234,
which is recorded within general and administrative expenses. Subsequent to March 31, 2025, the management and financial advisory services agreement was terminated in conjunction with the planned offering for a payment of
$
3,000
. There were
no
amounts payable at March 31, 2025 or December 31, 2024, related to the agreement. This information is included in Note 18, “
Subsequent Events
” as a one-time expense at the IPO date.
The Company incurs legal fees for legal services provided by law firms whose principals are members of the Company. For the three months ended March 31, 2025 and 2024,
the Company incurred legal fees for services totaling approximately $30, which is recorded within general and administrative expenses.