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INTANGIBLE ASSETS, NET | 6 Months Ended
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Jun. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
INTANGIBLE ASSETS, NET | 5. INTANGIBLE ASSETS, NET On June 12, 2023, we entered into an Asset Purchase Agreement with Bed Bath & Beyond Inc. ("BBBY"), and certain subsidiaries, to acquire certain intellectual property assets of the Bed Bath & Beyond banner from BBBY. On June 27, 2023, under a Bankruptcy Court supervised process, the U.S. Bankruptcy Court for the District of New Jersey approved the sale of the assets to the Company and on June 28, 2023, BBBY delivered all intellectual property assets via an Intellectual Property Assignment Agreement. The total purchase price, inclusive of direct acquisition-related expenses totaled $25.6 million which has been allocated to two major asset categories consisting of $21.8 million for trade names with an indefinite useful life and $3.8 million for customers lists with an estimated useful life of five years. Intangible assets, net consist of the following (in thousands):
| June 30, 2023 |  | December 31, 2022
Intangible assets subject to amortization, gross (1) | $ | 5,331 |  |  | $ | 1,552 |
Less: accumulated amortization of intangible assets | (1,551) |  |  | (1,543) |
Intangible assets subject to amortization, net | 3,780 |  |  | 9 |
Intangible assets not subject to amortization | 21,803 |  |  | — |
Total intangible assets, net | $ | 25,583 |  |  | $ | 9 |
___________________________________________ (1) At June 30, 2023, the weighted average remaining useful life for intangible assets subject to amortization, gross was 5.0 years.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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