STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of share-based compensation expense

The following table presents the share-based compensation expense for the three and six months ended June 30, 2023. There was no share-based compensation expense for the three and six months ended June 30, 2022.

	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
	(In thousands)
Stock option expense	$	397	$	796
Restricted stock expense	371		648
Total share-based compensation expense	$	768	$	1,444

Schedule of stock option activity

The following is a summary of the Company’s stock option activity and related information for the six months ended June 30, 2023:

	Number of Stock Options	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)
Outstanding - December 31, 2022	2,591,063	$	4.12	$	11.65	9.8
Forfeited	(91,200)	4.25		11.69		9.3
Outstanding - June 30, 2023	2,499,863	$	4.12	$	11.65	9.3
Exercisable - June 30, 2023	—

Schedule of restricted shares activity

The following is a summary of the status of the Company’s restricted shares as of June 30, 2023 and changes therein during the six months ended:

	Number of Shares Awarded	Weighted Average Grant Date Fair Value
Outstanding - December 31, 2022	299,481	$	11.54
Granted	732,780	12.00
Forfeited	(10,500)	12.00
Outstanding - June 30, 2023	1,021,761	$	11.87