11. STOCKHOLDERS' EQUITY |
3 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Equity [Abstract] | |
| STOCKHOLDERS' EQUITY | 11. STOCKHOLDERS’ EQUITY Overview As of December 31, 2025, the Company’s authorized capital stock consisted of 600,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share. As of December 31, 2025, there were 298,114,889 shares of common stock issued, 255,749,498 shares of common stock outstanding, and 1,750,000 shares of Series A Preferred Stock issued and outstanding. As of September 30, 2025, there were 296,087,533 shares of common stock issued and outstanding, 1,750,000 shares of Series A Preferred Stock issued and outstanding. Under the certificate of designation for the Series A Preferred Stock, holders of shares of the Company’s Series A Preferred Stock are entitled to quarterly dividends on 2% of the Company’s earnings before interest, taxes and amortization. The dividends are payable in cash or common stock. The preferred stock dividend for the three months ended December 31, 2025 and 2024 was $0 and $5,141, respectively. The holders of the Series A Preferred Stock will also have a liquidation preference on the stated value of $0.02 per share plus any accumulated but unpaid dividends. The holders are further entitled to have the Company redeem each share of their Series A Preferred Stock for three shares of common stock in the event of a change of control, and they are entitled to vote together with the holders of our common stock on all matters submitted to stockholders at a rate of forty-five (45) votes for each share of Series A Preferred Stock held. Common stock issuances during the three months ended December 31, 2025 The Company issued 1,788,834 shares of common stock in connection with the Sealy Texas Acquisition (see Note 3 - Acquisitions). The Company issued 106,425 shares of common stock in connection with the exercise of stock options and warrants. Cash received from such issuance was $932. Common stock repurchased during the three months ended December 31, 2025 In connection with the issuance of the 2032 Notes in November 2025 (see Note 9 - Indebtedness), the Company repurchased 30,605,456 shares of its common stock for from investors in privately negotiated transactions for an aggregate repurchase price of approximately $463,270, which includes the excise tax accrual of about $3,270. The shares were repurchased at fair value and the entire repurchase price was allocated to the repurchase of the shares. Common stock issuances during the three months ended December 31, 2024 The Company issued 5,031,221 shares of common stock in connection with the GRIID Acquisition. The Company issued 16,619,361 shares of common stock in connection with an at the market offering agreement, resulting in gross proceeds of $191,603 and issuance costs of $4,795. The Company issued 17,864 shares of common stock in connection with the exercise of stock options and warrants. Cash received from such issuance was $110. Common stock repurchased during the three months ended December 31, 2024 In connection with the issuance of the 2030 Notes in December 2024 (see Note 9 - Indebtedness), the Company repurchased 11,759,935 shares of its common stock for from investors in privately negotiated transactions for an aggregate repurchase price of approximately $145,000. The shares were repurchased at fair value and the entire repurchase price was allocated to the repurchase of the shares. |