SHAREHOLDERS' EQUITY |
3 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Stockholders' Equity Note [Abstract] | |
| SHAREHOLDERS' EQUITY | Employee Stock Purchase Plan In August 2010, Orion’s Board of Directors approved a non-compensatory employee stock purchase plan, or “ESPP”. In the three months ended June 30, 2025, Orion issued 250 shares under the ESPP plan at a closing market price of $0.60. In the three months ended June 30, 2024, Orion issued 459 shares under the ESPP plan at a closing market price of $1.11. Sale of shares In March 2023, Orion filed a universal shelf registration statement with the Securities and Exchange Commission. Under the shelf registration statement, Orion currently has the flexibility to publicly offer and sell from time to time up to $100 million of debt and/or equity securities, subject to regulatory limitations. The filing of the shelf registration statement may help facilitate Orion’s ability to raise public equity or debt capital to expand existing businesses, fund potential acquisitions, invest in other growth opportunities, repay existing debt, or for other general corporate purposes. In March 2021, Orion entered into an At Market Issuance Sales Agreement to undertake an “at the market” (ATM) public equity capital raising program pursuant to which Orion may offer and sell shares of common stock from time to time, having an aggregate offering price of up to $50 million. In March 2025, the ATM was terminated. Voltrek Earn-Out Issuance Pursuant to the Term Sheet, Orion issued to Final Frontier $1.0 million in our common stock on July 16, 2025. Additionally, the remaining amount of the finally determined remaining earn-out amount will be paid pursuant to the anticipated Senior Subordinated Note. Orion has the right to pay up to 20% of the remaining outstanding earn-out amount at maturity in shares of its common stock. Refer to Note 12 above for a description of the Term Sheet. |