Shareholders’ Equity (Deficit) |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Shareholders’ Equity (Deficit) | Shareholders’ Equity (Deficit) Preferred Stock On September 30, 2025, the Company effected the conversion of all authorized and issued shares of Preferred Stock into Common Stock, as agreed to by all holders of Preferred Stock. Accordingly, there were no shares of Preferred Stock authorized or outstanding as of June 30, 2026 or December 31, 2025. As a result, there is no liquidation preference as of June 30, 2026 or December 31, 2025. The conversion did not occur in accordance with the original terms of the Preferred Stock (as described below), as the Company provided the holders of the Preferred Stock with one share of Common Stock for every share of Preferred Stock outstanding, plus an additional share of Common Stock for every $10.80 of unpaid liquidation preference prior to the conversion transaction. As such, the transaction was accounted for as an extinguishment of preferred stock. Prior to September 30, 2025, the Company designated a portion of the authorized shares of preferred stock as Series A, Series B, Series C and Series D Preferred Stock, and the issuance of total designated shares cannot exceed the aggregate number of preferred stock shares authorized for issuance. Common Stock As of June 30, 2026, the Company was authorized to issue up to 500,000,000 shares of common stock, without any par value per share. Each holder of common stock is entitled to one vote for each share held of record on all matters to be voted on by such holders. Holders of common stock are entitled to receive dividends, if declared. Upon liquidation, dissolution or winding-up, holders of common stock are entitled to share ratably in the net assets legally available for distribution after payment of all debts and other liabilities.
|