COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Obligations under Non-cancelable Operating Leases

Future minimum lease payments under non-cancelable operating leases as of December 31, 2023 are as follows ($ in thousands):

2024	$	2,171
2025	2,207
2026	2,219
2027	2,232
2028	13,344
Thereafter	—
Total undiscounted cash flows	22,173
Present value discount (1)	(5,755)
Lease liabilities (2)	$	16,418

(1)Lease liabilities were discounted at the Company's weighted average incremental borrowing rate for similar collateral, which was estimated to be 6.62%. The remaining lease term is 9.6 years.

(2)The Company has a five-year extension option which is not reflected in the total lease liability.