STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Payment Arrangement, Cost by Plan

The following table reflects stock-based compensation expense:

($ in millions)	2023		2022
Restricted stock units	$	12.0	$	9.4
Options	—		—
Total stock-based compensation	$	12.0	$	9.4

Schedule of Share-based Payment Arrangement, Nonvested Award, Cost

As of December 31, 2023, unamortized stock-based compensation expense and the related weighted-average period over which it is expected to be recognized is presented in the table below.

($ in millions)	Unamortized Expense for Outstanding Awards		Weighted-Average Amortization Period (in years)
Restricted stock units	$	4.5	1.3
Performance Options	3.6		4.8
Total unrecognized stock-based compensation expense	$	8.1	2.9

Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity

RSU activity and the corresponding weighted-average grant-date fair value per share during 2023 and 2022 were as follows:

	Number of RSUs	Weighted -Average Grant Date Fair Value
Outstanding at December 31, 2021	912,128	$	37.48
Granted	551,150	27.92
Vested	(271,596)	35.36
Forfeited	(162,734)	34.19
Cancellation of units under the Plan	(440,000)	35.47
Outstanding at December 31, 2022	588,948	31.92
Granted	1,194,947	8.58
Vested	(805,020)	16.86
Forfeited	(584,714)	14.92
Outstanding at December 31, 2023	394,161	$	14.82
Expected to vest	394,161	$	14.82

Schedule of Common Stock Warrants Assumptions

The fair value of the Performance Options was determined using a Monte Carlo model and the following assumptions:

	2023
Exercise price	$	5.85
Fair value price per share of common stock	$	4.35
Volatility	95.0%
Expected term (years)	9.9
Risk-free interest rate	4.1%
Dividend yield	—
Fair value of award at initial valuation date ($ in millions)	$	3.6

The warrants are classified as equity, and the fair value of the warrants was determined at issuance date using the Black-Scholes option pricing model with the following assumptions:

	2023
Exercise price	$	12.00
Fair value per share	$	5.01
Volatility	100.0%
Expected term remaining (years)	5
Risk-free interest rate	4.27%
Dividend yield	—
Fair value at issuance date ($ in millions)	$	6.1

Schedule of Option Activity

The following is a summary of the stock options activity for the Company for the past two years:

	Number of Options	Weighted Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value ($ in millions)
Outstanding at December 31, 2021	2,551	$	79.62	8.7	—
Options granted	—	—			—
Options exercised	—	—			—
Options forfeited or expired	(171)	81.60			—
Outstanding at December 31, 2022	2,380	79.48		6.7	—
Options granted	825,000	5.85		10.0	—
Options exercised	—	—		—	—
Options forfeited or expired	(1,579)	78.40		—	—
Outstanding at December 31, 2023	825,801	$	5.92	9.8	$	1.9
Vested / exercisable at December 31, 2023	801	$	81.60	3.8	$	—
Expected to vest as of December 31, 2023	825,000	$	5.85	9.8	$	1.9

Warrant Activity

The following table summarizes warrant activity in 2023 and 2022:

	2023	2022
Warrants outstanding at the beginning of the year(1)	1,228,651	1,228,651
New warrant issuances(2)	1,212,121	—
Warrants expiring during the year(1)	(1,228,651)	—
Warrants outstanding at the end of the year(2)	1,212,121	1,228,651

(1) The warrants outstanding in 2022 had a weighted-average exercise price of $34.22 and expired at various times during 2023.

(2) Warrants were granted in 2023 with an exercise price of $12.00, which was adjusted in accordance with the terms of the grant subsequent to the Rights Offering. The exercise price attributable to the Warrants outstanding at December 31, 2023 was $11.25.