XML 102 R86.htm IDEA: XBRL DOCUMENT v3.25.1
Summary of the Warrants (Details) (Parenthetical) - USD ($)
$ / shares in Units, $ in Thousands
Jan. 24, 2025
Jul. 31, 2023
Apr. 10, 2023
Dec. 31, 2024
Nov. 25, 2024
Mar. 13, 2024
Jan. 12, 2024
Class of Warrant or Right [Line Items]              
Exercise price   $ 7.50 $ 7.50   $ 2.85 $ 8.10  
Proceeds from the exercise of warrants   $ 3,000 $ 6,000        
Starr Forbearance Agreement [Member]              
Class of Warrant or Right [Line Items]              
Number of warrants repriced           75,000  
Exercise price           $ 7.10  
C.V. Starr Co Inc [Member]              
Class of Warrant or Right [Line Items]              
Number of warrants repriced           50,000  
Exercise price           $ 5.895  
Dragasac Warrant [Member]              
Class of Warrant or Right [Line Items]              
Exercise price [1],[2]       $ 2.4898      
Public Warrants [Member]              
Class of Warrant or Right [Line Items]              
Exercise price [3]       $ 115.00      
Warrants outstanding       14,374,478      
Sponsor Warrants [Member]              
Class of Warrant or Right [Line Items]              
Exercise price [3]       $ 115.00      
Warrants outstanding       8,499,999      
Common Class A [Member]              
Class of Warrant or Right [Line Items]              
Aggregate shares   857,142 923,076 11,221,557      
Common Class A [Member] | Dragasac Warrant [Member]              
Class of Warrant or Right [Line Items]              
Exercise price       $ 67.70      
Common Class A [Member] | Sponsor Warrants [Member]              
Class of Warrant or Right [Line Items]              
Exercise price       $ 115.00      
2024 Warrant Repricing [Member]              
Class of Warrant or Right [Line Items]              
Number of warrants repriced             652,981
Exercise price             $ 2.4898
2024 Warrant Repricing [Member] | Common Class A [Member]              
Class of Warrant or Right [Line Items]              
Exercise price             $ 67.70
2024 Warrant Repricing [Member] | Common Class A [Member] | Subsequent Event [Member]              
Class of Warrant or Right [Line Items]              
Aggregate shares 1,188,255            
Proceeds from the exercise of warrants $ 2,500            
[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.