v3.26.1
Stockholders’ Equity (Tables)
12 Months Ended
Dec. 31, 2025
Stockholders’ Equity [Abstract]  
Schedule of Warrants Outstanding

The Company issued warrants in connection with various financing transactions and agreements. The Company had the following warrants outstanding at December 31, 2025 and 2024 (in thousands):

 

   December 31,   December 31, 
   2025   2024 
2024 Warrants   20,000    20,000 
2025 Warrants   6,230    
 
2025 Additional Warrants   6,557    
 
SGI Warrants   8,000    
 
Total Warrants   40,787    20,000 
Schedule of Exercise Price

The following table provides the exercise price and expiration date for each warrant tranche as of December 31, 2025:

 

   Warrant Share Equivalent
(000’s)
   Exercise
Price(d)
   Expiration Date
2024 Warrants   20,000   $1.50   January 23, 2034
2025 Warrants   6,230   $1.50   March 12, 2035
2025 Additional Warrants   6,557   $1.50   March 12, 2035
SGI Warrants   8,000   $1.50   March 12, 2035

 

(d) Subject to adjustment.

 

While the Warrants are exercisable, the Company may call the Warrants for redemption in whole and not in part at any time at a price of $0.01 per share of Common Stock issuable upon exercise of the Warrants upon not less than 45 days’ prior written notice of redemption to each holder. This redemption right is only available if the reported last sale price of the Common Stock equals or exceeds $24.00 per share on each of 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the holders. A holder of the Warrants will not have the right to exercise its Warrants, to the extent that after giving effect to such exercise, the holder (together with its affiliates) would beneficially own in excess of 49.9% of the shares of Common Stock outstanding immediately after giving effect to such exercise.