v3.25.4
STOCKHOLDERS’ EQUITY (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Stockholders Equity The table below is a summary of the shares (in thousands, except for shares and average issue price):
(dollars in thousands)Shares IssuedCarrying ValueAverage Issue PriceLiquidation preference
Balance at December 31, 20243,285,995 $132,835 $37.29 $146,454 
Dividends accrued on Class B Convertible preferred stock— 3,927 — 3,927 
Conversion of Class B Convertible Preferred Stock to Class A common stock(3,285,995)(136,762)(37.29)(150,381)
Balance at December 31, 2025— $— $— $— 
The table below is a summary of the shares (in thousands, except for shares and average issue price):
(dollars in thousands)Shares IssuedCarrying ValueAverage Issue PriceLiquidation preference
Balance at December 31, 20241,537,818 $63,464 $43.82 $67,387 
Issuance of Class C Convertible Preferred Stock, net
2,765,087 110,782 43.82 121,166 
Conversion of Class C Convertible Preferred Stock to Class A common stock(4,302,905)(174,246)(43.82)(188,553)
Balance at December 31, 2025— $— $— $—