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Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Event [Line Items]  
Subsequent Events

19. Subsequent Events

 

New Financing

 

On November 12, 2024, the Company and Mudrick Capital Management L.P., on behalf of certain funds, investors, entities or accounts that are managed, sponsored or advised by Mudrick Capital Management L.P. (the “Purchaser”), amended and restated the Sixth A&R Super Note to reflect an increased aggregate principal amount of $97,842,574 (the “Seventh A&R Super Note”). The Seventh A&R Super Note will mature on August 7, 2026, at which time 108% of the principal and accrued interest will become due, payable in cash, unless earlier redeemed or repurchased. This transaction constitutes a related party transaction.

 

Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers

 

On October 15, 2024, Eduardo Iniguez, the Chief Executive Officer of the Company, resigned from his position as Chief Executive Officer and as a member of the Board, effective as of such date. As a result of his resignation as Chief Executive Officer, Mr. Iniguez ceased serving as the Company’s principal executive officer. Mr. Iniguez resigned for personal reasons.

On October 15, 2024, the Board appointed Albert Joon (“AJ”) Lee, the Company’s current Chief Operating Officer, as the Company’s Interim Chief Executive Officer, effective as of such date. In this capacity, Mr. Lee will serve as the Company’s interim principal executive officer. Mr. Lee will continue to serve as the Company’s Chief Operating Officer.

There have been no other events or transactions that occurred subsequently that require recognition or disclosure.