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Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

Note 16 – Subsequent Events

 

As discussed in Note 4 – Acquisitions and Merger, the Company closed its previously announced NRO Acquisition on October 1, 2024 and paid $49.6 million to the sellers in cash, using cash on hand, the proceeds from the issuance of Common Stock, and a portion of the proceeds from the issuance of the Senior Convertible Note. Refer to Note 8 – Debt for a discussion of the Senior Convertible Note and to Note 12 – Common Stock for a discussion of the issuance of Common Stock.

 

Additionally on October 1, 2024, the Company received the remaining $2.0 million proceeds from the issuance of the Subordinated Note and the $14.3 million proceeds from the issuance of the Senior Convertible Note. Refer to Note 8 – Debt for a discussion of the Subordinated Note and the Senior Convertible Note.

 

On October 30, 2024, Paul L. Kessler provided the Board of the Company with notice of his resignation as a member of the Board, effective October 30, 2024. Mr. Kessler’s resignation was not the result of a disagreement with the Company or any of its affiliates on any matter relating to the Company’s operations, policies or practices.