Subsequent Events |
3 Months Ended |
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Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On May 12, 2026, the Company entered into a binding term sheet with CCM Frontier JV Holdco, LLC, an affiliate of Cerberus Capital Management, L.P. (“CCM Frontier”), providing for the formation of a joint venture focused on the development of certain energy storage and power opportunities (the “Joint Venture”). The joint venture is expected to be organized through Frontier Power USA Parent, LLC (the “JV Company”). Closing of the transactions contemplated by the term sheet is subject to the negotiation and execution of definitive agreements and the satisfaction of customary and other conditions. Pursuant to the term sheet, at or prior to closing, CCM Frontier is expected to (i) receive founder’s equity in the form of Class A‑1 units in exchange for certain contributed contracts, relationships and platform assets, (ii) contribute $100,000 in cash in exchange for Class A‑2 units of the JV Company, and (iii) receive a warrant to purchase shares of the Company’s common stock. Concurrently, the Company is expected to contribute an amount equal to the proceeds raised in a contemplated rights offering, targeted at $150,000, in exchange for Class B units of the JV Company. The Company’s investment in the JV Company is expected to be funded through a rights offering to holders of the Company’s common stock and certain warrants. Participants in the rights offering are expected to receive common stock and warrants to purchase additional shares of common stock, with the warrants having an exercise price set at a discount to the volume‑weighted average price of the Company’s common stock at the time of launch. CCM Frontier is expected to receive a similarly priced warrant in consideration for its cash contribution. The completion of the Joint Venture transactions is subject to several conditions, including, among others, (i) completion of the rights offering, (ii) approval by the Company’s stockholders of an increase in authorized shares of common stock, (iii) receipt of required third‑party approvals, including consent from the U.S. Department of Energy, and (iv) execution of definitive commercial and governance agreements.
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