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Subsequent Events
3 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Rights Offering
On July 5, 2023, the Company distributed to all holders of record of its common stock as of 5:00 p.m., Eastern Daylight Time, on June 26, 2023, for each share of common stock held as of June 26, 2023, one non-transferable subscription right. Each subscription right carried with it (i) a basic subscription right, which entitled the holder to purchase 0.07655623 of a share of common stock and (ii) an over-subscription privilege, which entitled a holder that had exercised its basic subscription right in full to subscribe for additional shares of common stock that were offered in the rights offering, to the extent other holders did not exercise their basic subscription rights in full. The subscription price was $3.30 per whole share of common stock. The Company completed the rights offering in
August 2023 and issued 2,404,758 shares of common stock, which generated approximately $7.9 million in gross proceeds. The Company received net proceeds of approximately $7.6 million from the rights offering, after the payment of offering fees and expenses. The Company intends to use the net proceeds for working capital and other general corporate purposes.