Related Party Transactions

12 Months Ended

Dec. 31, 2022

Related Party Transactions [Abstract]

Related Party Transactions

12. Related Party Transactions

In November 2018, the Company entered into the Term Loan and Inventory Financing Agreement with certain affiliates of Squadron Capital, LLC (“Squadron”), including an inventory supplier (the "Squadron Supplier Affiliate”). The Term Loan and the Inventory Financing Agreement were terminated and all obligations thereunder were repaid on August 10, 2021. See Note 6 for further details regarding the Term Loan and Inventory Financing Agreement. For the years ended December 31, 2022, 2021 and 2020, the Company purchased inventory in the amounts of $10.3 million, $7.7 million and $4.0 million, respectively, from the Squadron Supplier Affiliate. As of December 31, 2022 and 2021, the Company had $2.4 million and $0.8 million, respectively, due to the Squadron Supplier Affiliate. Squadron was a lead investor in the Private Placement that was closed on March 1, 2021. David Pelizzon, President and Director of Squadron, currently serves on the Company’s Board of Directors.