XML 61 R51.htm IDEA: XBRL DOCUMENT
v3.23.3

STARBOARD INVESTMENT - Senior Secured Notes (Details) - USD ($) |  |  |  |  |  |  |  |  |  | 9 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Jul. 15, 2022 | Apr. 14, 2022 | Jan. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jan. 29, 2021 | Jun. 30, 2020 | Jun. 04, 2020 | Sep. 30, 2023 | Sep. 30, 2022 | Jul. 14, 2023 | Feb. 14, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2020 | Nov. 18, 2019
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary equity, par or stated value (in usd per share) |  |  |  |  |  |  |  |  |  | $ 0.001 |  |  |  | $ 0.001 |  |  |
Repayments of secured debt |  |  |  |  |  |  |  |  |  | $ 60,000,000 | $ 120,000,000 |  |  |  |  |  |
Series B warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class of warrant or right, exercise price of warrants or rights |  |  |  |  |  |  |  |  |  |  |  |  | $ 5.25 |  |  |  |
Redeemable Preferred Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary equity, par or stated value (in usd per share) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 0.001
Common Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible preferred stock, shares issued upon conversion |  |  |  |  |  |  |  |  |  |  |  | 9,616,746 |  |  |  |  |
Series A Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends payable, current |  |  |  |  |  |  |  |  |  | 0 |  |  |  | $ 0 |  |  |
Senior Secured Notes | New Notes | Merton |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayments of secured debt | $ 55,000,000 | $ 50,000,000 | $ 15,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal amount outstanding | $ 60,000,000 | $ 115,000,000 | $ 165,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior Secured Notes | Series A Redeemable Convertible Preferred Stock | Merton |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends payable, current |  |  |  |  |  |  |  |  |  | $ 0 |  |  |  | 450,000 |  |  |
Senior Secured Notes | Securities Purchase Agreement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of secured debt |  |  |  |  |  |  |  |  | $ 115,000,000 |  |  |  |  |  |  |  |
Senior Secured Notes | Securities Purchase Agreement | Merton |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate outstanding principal amount |  |  |  |  |  |  |  | $ 115,000,000 |  |  |  |  |  |  |  |  |
Debt instrument, interest rate during period |  |  |  |  |  |  |  |  |  | 6.00% |  |  |  |  |  |  |
Lender fees |  |  |  |  |  |  |  |  |  | $ 4,600,000 |  |  |  |  |  |  |
Senior Secured Notes | Securities Purchase Agreement | New Notes | Merton |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of secured debt |  |  |  |  |  | $ 50,000,000 |  |  |  |  |  |  |  |  |  |  |
Repayments of secured debt |  |  |  |  |  |  | $ 50,000,000 |  |  |  |  |  |  |  |  |  |
Principal amount outstanding |  |  |  |  |  |  |  |  |  | $ 0 |  |  |  | $ 60,000,000 |  |  |
Senior Secured Notes | Securities Purchase Agreement | June 2021 Merton Notes | Merton |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of secured debt |  |  |  |  | $ 30,000,000 |  |  |  |  |  |  |  |  |  |  |  |
Senior Secured Notes | Securities Purchase Agreement | September 2021 Merton Notes | Merton |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of secured debt |  |  |  | $ 35,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Senior Secured Notes | Securities Purchase Agreement | June 2020 Approved Investment Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Redemption [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 35,000,000 | $ 80,000,000 |

X
- Definition Repayment of debt + References No definition available. + Details
Name: | actg_RedemptionOfSecuredNotes
Namespace Prefix: | actg_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Exercise price per share or per unit of warrants or rights outstanding. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 + Details
Name: | us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of shares issued for each share of convertible preferred stock that is converted. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-16 + Details
Name: | us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | instant

X
- Definition The average effective interest rate during the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_DebtInstrumentInterestRateDuringPeriod
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-3 + Details
Name: | us-gaap_DeferredFinanceCostsGross
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_DividendsPayableCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The increase (decrease) during the reporting period in current portion (due within one year or one business cycle) of obligations evidenced by formal promissory notes. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28 + Details
Name: | us-gaap_IncreaseDecreaseInNotesPayableCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69C -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-4 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash inflow from amounts received from issuance of long-term debt that is wholly or partially secured by collateral. Excludes proceeds from tax exempt secured debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-14 + Details
Name: | us-gaap_ProceedsFromIssuanceOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-15 + Details
Name: | us-gaap_RepaymentsOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Per share amount of par value or stated value of stock classified as temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480244/480-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (27) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_TemporaryEquityParOrStatedValuePerShare
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_ClassOfWarrantOrRightAxis=actg_SeriesBWarrantsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementClassOfStockAxis=us-gaap_RedeemablePreferredStockMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SecuritiesFinancingTransactionAxis=actg_SeriesARedeemableConvertibleStockMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=actg_SeniorSecuredNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=actg_NewNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_CounterpartyNameAxis=actg_MertonMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TransactionTypeAxis=actg_SecuritiesPurchaseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=actg_June2021MertonNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=actg_September2021MertonNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SecuritiesFinancingTransactionAxis=actg_June2020ApprovedInvestmentNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |