Related Party Transactions |
9 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 14. Related Party TransactionsAs of March 31, 2026, Ascend and Bluescape beneficially owned approximately 29.2% and 20.1%, respectively of the Company’s outstanding Common Stock and are therefore considered related parties. Additionally, pursuant to the Fourth Amended and Restated Investor and Registration Rights Agreement dated January 14, 2025, Bluescape and Ascend each have the right to designate two individuals to our Board, and we are required to appoint or nominate such persons to our Board. Such party’s respective designation right will continue for so long as each such party beneficially owns 25% of the Company’s Common Stock, and one director to serve on the Company’s Board for so long as each such party beneficially owns 10% of the Company’s Common Stock. As described in Note 10-Equity, on December 4, 2025, the Company entered into the Warrant Amendments with Bluescape, Ascend and Meridian, and each exercised all of their outstanding Restructuring Warrants. As described in Note 10-Equity, on January 7, 2026, the Company issued warrants to purchase up to $10.0 million of shares of the Company’s Common Stock to Bluescape and Ascend. As described in Note 10-Equity, on February 2, 2026, the Company completed the February 2026 Equity Offering. As part of the February 2026 Equity Offering, Bluescape purchased 4,000,000 shares of our Common Stock at $2.00 per share, a price per share equal to other investors who purchased shares of the Company’s Common Stock in the transaction. |