DEBT (Tables)

12 Months Ended

Jul. 31, 2024

Debt Disclosure [Abstract]

Summary of Components of Debt and Reconciliation to Carrying Amount

The components of debt and a reconciliation to the carrying amount of long-term debt is presented in the table below:

	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	12,903	$	12,461
Credit Facilities
Umpqua Revolver	—		—
Total debt, net	$	12,903	$	12,461

(a) As of May 1, 2023, the Company will account for the SPHG Note under the fair value option..

Summary of Interest Expense Related to Convertible Notes

Below is a reconciliation of interest expense related to the SPHG Note to total interest expense:

	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Interest expense related to contractual interest coupon on the SPHG Note	$	996	$	261	$	844
Interest expense related to accretion of the discount on the SPHG Note(a)	—		—		1,688
Interest expense related to revolving credit facilities (see below)	—		—		36
Other	—		4		20
Total interest expense	$	996	$	265	$	2,588

(a) Prior to the date of the Exchange Transaction, the discount on the SPHG Note was accreted using the effective interest rate method. The effective interest rate on the SPHG Note was 27.8% prior to the SPHG Note Amendment, and was 23.0% subsequent to the SPHG Note Amendment.