Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions | |
| Related Party Transactions | 10. Related Party Transactions Guarantee Since October 2024, in connection with a required standby letter of credit associated with the Company’s real estate lease for offices located at 1333 Broadway (see Note 5), Mr. D’Loren has provided and continues to provide a personal guarantee to the financial institution providing such letter of credit, in order to satisfy a portion of the associated collateral requirements for the letter of credit. Debt As of December 31, 2025, IPX Capital, LLC (“IPX”), a company controlled by Robert W. D’Loren, Chairman and Chief Executive Officer of the Company, held a $0.50 million undivided, last-out, subordinated participation interest in Term Loan A (see Note 6). In April 2026, a $0.50 million portion of Term Loan A was sold and assigned by FEAC to IPX in connection with the refinancing of the Company’s term loan debt, and continues to be held by IPX as of June 30, 2026. Additionally, in April 2026, IPX participated in the Company’s issuance of new 12.5% Senior Secured Notes due April 13, 2027. As part of this transaction, IPX purchased $57,803 original principal amount of the Senior Secured Notes and purchased 1,742 shares of common stock, on the same terms as the other purchasers participating the issuance, except that the shares of common stock purchased by IPX were priced at the then current market value. See Note 6 for additional details related to this debt issuance.
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