Note 11 - Shareholders' Deficit |
6 Months Ended |
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Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Equity [Text Block] |
Note 11—Shareholders’ Deficit
Common Stock
At-the-Market Sales Agreement - We have an “at the market” (“ATM”) facility agreement under which we have the capability to sell shares of our common stock, from time to time, through an ATM equity offering program. On November 14, 2025, the Company filed a shelf registration statement and prospectus supplement renewing the ATM for an aggregate offering price of up to $150.0 million. As of the date of this report, we have $150.0 million in shares of our common stock available to sell under our ATM program.
Share Repurchase Program - On November 29, 2025, the Board of Directors approved a share repurchase program under which we are permitted to repurchase from time to time up to $100.0 million of our common stock in the open market or through privately negotiated transactions. For the three months ended June 30, 2026, we repurchased and retired 0.5 million shares of common stock at an average cost of $11.70 for an aggregate purchase price of $5.7 million. For the six months ended June 30, 2026, we repurchased and retired 0.8 million shares of common stock at an average cost of $11.70 for an aggregate purchase price of $9.9 million. As of August 12, 2026, approximately $90.1 million remained available for repurchase of our outstanding shares of common stock under the share repurchase program.
Equitization Transaction - During 2025, we entered into note conversion agreements with two holders of our 2026 Notes to convert $10.0 million aggregate principal amount of the 2026 Notes into shares of our common stock. As of June 30, 2025, we delivered 539,320 shares of the first tranche under this agreement. We subsequently delivered an aggregate of 1,996,555 additional shares upon completion of the transaction in the third quarter of 2025, completing all of the required share issuances under this arrangement. (See “Note 6—Debt” and our Annual Report on Form 10-K for the year ended December 31, 2025 for additional information.)
Amended and Restated Omnibus Incentive Compensation Plan - At our annual meeting of shareholders, held on June 18, 2026, our shareholders approved an increase of 6,000,000 in the number of shares of common stock available for grant under the Amended and Restated Omnibus Incentive Compensation Plan. The total number of shares of common stock available for grant as of June 30, 2026 was 10,331,853.
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