Debt |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt | 10. Debt SAFE In late December 2025, the Company entered into SAFE agreements to raise $15,080. The SAFE will convert into shares issued in the next equity financing with equity proceeds of $7,000 or more. Upon such conversion, the conversion price would be the lesser of (a) the price at which the shares were issued in the equity financing less 20% or (b) $250,000 divided by the fully diluted capitalization immediately prior to the equity financing. If a Corporate Transaction (as defined) takes place before the next qualified equity financing, SAFE holders will have the option to have their investment redeemed in cash or converted into common stock. SAFE holders are not entitled to vote or receive dividends prior to conversion. As of March 31, 2026, all proceeds have been received under the SAFE. The Company accounts for the SAFE as liabilities, with changes in fair value recognized in the consolidated statements of operations. The fair value of the SAFE liability was $11,715 as of December 31, 2025 and $18,489 as of March 31, 2026. Convertible related party loan - BRC Loan Agreement In June 2025 AMBPL entered into a loan agreement with BRC, a related party, whereby amounts previously paid by BRC on AMBPL's behalf were formalized into a note payable to BRC. At the inception of the loan agreement, the outstanding balance was $575. As of December 31, 2025, the loan had an outstanding principal and accrued interest balance of $1,123. Interest under the loan is payable on amounts borrowed at the , which was 14.65% per year as of March 31, 2026. The loan amount plus any accrued interest shall be repaid in full on the earliest of the following dates to occur: (i) December 31, 2026 or (ii) 5 business days after the sale or transfer of a controlling interest in the Company or a controlling interest in the controlling company of AMBPL. During the three months ended March 31, 2026, we recorded interest expense of $39. As of March 31, 2026 and December 31, 2025, we had accrued interest payable of $191 and $152, respectively. As of March 31, 2026 and December 31, 2025 there were no unamortized premiums, discounts, or deferred costs on the loan. |