XML 101 R85.htm IDEA: XBRL DOCUMENT v3.25.1
Summary of the Warrants (Details) - $ / shares
Jan. 24, 2025
Dec. 31, 2024
Nov. 25, 2024
Mar. 13, 2024
Jul. 31, 2023
May 18, 2023
Apr. 10, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   11,221,557          
Exercise price     $ 2.85 $ 8.10 $ 7.50   $ 7.50
Minimum [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Exercise price         $ 3.50    
Minimum [Member] | January 2024 PIPE Warrant [Member] | Subsequent Event [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Exercise price $ 2.49            
Maximum [Member] | January 2024 PIPE Warrant [Member] | Subsequent Event [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Exercise price $ 2.07            
Dragasac Warrant [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares [1],[2]   652,981          
Exercise price [1],[2]   $ 2.4898          
Expiration date [1],[2]   Mar. 16, 2025          
Public Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares [3]   1,437,447          
Exercise price [3]   $ 115.00          
Expiration date [3]   Jul. 16, 2026          
Sponsor Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares [3]   849,999          
Exercise price [3]   $ 115.00          
Expiration date [3]   Jul. 16, 2026          
May 2022 Private Investment in Public Equity Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   405,405          
Exercise price   $ 3.50          
Expiration date   Oct. 10, 2028          
March 2023 Private Investment in Public Equity Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   208,485          
Exercise price   $ 30.00          
Expiration date   Mar. 27, 2028          
March 2023 Private Investment in Public Equity Warrants, Modified [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   729,698          
Exercise price   $ 10.00          
Expiration date   Mar. 27, 2028          
March 2023 Loan Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares [4]   75,000          
Exercise price [4]   $ 5.8950          
Expiration date [4]   Mar. 17, 2028          
April 2023 Registered Direct Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   435,625          
Exercise price   $ 7.50          
Expiration date   Oct. 10, 2028          
April 2023 Registered Direct Warrants Modified [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   487,451          
Exercise price   $ 3.50          
Expiration date   Oct. 10, 2028          
May 2023 Private Investment in Public Equity Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   581,394          
Exercise price   $ 10.00       $ 10.00  
Expiration date   May 17, 2028       May 17, 2028  
June 2023 Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares [4]   50,000          
Exercise price [4]   $ 5.8950          
Expiration date   Jun. 20, 2028          
June 2023 Loan Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   300,000          
Exercise price   $ 8.10          
Expiration date   Jun. 20, 2028          
July 2023 Registered Direct Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   857,142          
Exercise price   $ 3.50          
Expiration date   Jan. 31, 2029          
January 2024 PIPE Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares [2]   535,274          
Exercise price [2]   $ 2.4898          
Expiration date [2]   Jan. 16, 2029          
January 2024 Bridge Loan Tranche One Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   1,650,000          
Exercise price   $ 2.4898          
Expiration date   Jan. 16, 2029          
January 2024 Bridge Loan - Tranche #2 Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   1,350,000          
Exercise price   $ 2.9880          
Expiration date   Jul. 15, 2029          
March 2024 RWI Forbearance Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   300,000          
Exercise price   $ 5.8958          
Expiration date   Jun. 20, 2028          
November 2024 Purchaser Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   263,156          
Exercise price   $ 2.85          
November 2024 Purchaser Warrants [Member] | Minimum [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Expiration date   Nov. 25, 2029          
November 2024 Purchaser Warrants [Member] | Maximum [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Expiration date   Dec. 03, 2029          
November 2024 Placement Agent Warrants [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Number of shares   52,500          
Exercise price   $ 3.56          
November 2024 Placement Agent Warrants [Member] | Minimum [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Expiration date   Nov. 25, 2029          
November 2024 Placement Agent Warrants [Member] | Maximum [Member]              
Accumulated Other Comprehensive Income (Loss) [Line Items]              
Expiration date   Dec. 03, 2029          
[1] In connection with the execution of the January 2024 PIPE described above, the Company agreed to reprice 652,981 legacy warrants held by Dragasac with a previous exercise price of $67.70 to a new exercise price of $2.4898. The term of the warrants was unchanged.
[2] On January 24, 2025, the Company agreed to reduce the exercise price of the Dragasac warrants and the January 2024 PIPE warrants from $2.49 per share to $2.07 per share. As a result of the price reduction, the holder agreed to immediately exercise the warrants in full and to purchase an aggregate 1,188,255 shares of the Company’s Class A common stock for gross proceeds to the Company of approximately $2.5 million.
[3] The number of Public Warrants and Sponsor Warrants outstanding was not adjusted for the reverse stock split. There are 14,374,478 Public Warrants and 8,499,999 Sponsor Warrants outstanding. After the reverse stock split, the number of warrants outstanding remains the same. However, each outstanding warrant is now exercisable for one-tenth of a share of Class A common stock, and the exercise price per share was adjusted to $115.00 as a result of the split.
[4] In connection with the execution of the Starr Forbearance Agreement on March 13, 2024, described above under Warrant Modification and further in Note 10, the Company agreed to reprice 75,000 warrants with a previous exercise price of $7.10 and 50,000 warrants with a previous exercise price of $8.10 held by C.V. Starr to a new exercise price of $5.895. The term of the warrants was unchanged.