Mezzanine Equity

12 Months Ended

Dec. 31, 2024

Temporary Equity Disclosure [Abstract]

Mezzanine Equity

Mezzanine Equity

On April 1, 2020, we issued 4,484,305 shares of our common stock, at a price of $15.61 per share, and 40,000 shares of our preferred stock, at a price of $1,000 per share, for aggregate gross proceeds of $110,000. We designated this preferred stock as Series A Convertible Preferred Stock (our "convertible preferred stock").

We allocated the gross proceeds of $110,000 to the common stock issuance and the convertible preferred stock issuance based on the standalone fair value of the issuances, resulting in a fair valuation of $40,000 for the preferred stock, which was also the value of the mandatory redemption amount.

Redemption—On November 30, 2024, all shares of our convertible preferred stock were redeemed in cash. We paid the full issue price of $40,000 plus a final cash payment of $367 in accrued dividends.