XML 34 R24.htm IDEA: XBRL DOCUMENT v3.23.1
Related Party Transactions
 3 Months Ended
Mar. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions

17. Related Party Transactions

 

Principal Stockholder

 

For the three months ended March 31, 2023 and 2022, the Company paid in cash interest of $2,998 and accrued interest that was added to the principal of $1,815, respectively, on the Senior Secured Note and Delayed Draw Term Note due to BRF, which is an affiliate of B. Riley, a principal stockholder.

 

On March 31, 2023, the Company entered into common stock purchase agreements with certain purchasers, pursuant to which the Company agreed to issue and sell in a registered direct offering an aggregate of 2,963,918 shares of the Company’s common stock. Certain affiliates of B. Riley participated in the registered direct offering and purchased an aggregate of 1,009,021 shares of the Company’s common stock at a price per share of $3.88 per share for a total consideration of $790.

 

For the three months ended March 31, 2022, the Company had certain transactions with B. Riley, a principal stockholder, where it paid fees associated with the common stock public offering totaling $2,440.

 

Consulting and Service Contracts

 

For the three months ended March 31, 2023 and 2022, the Company paid an entity affiliated with James C. Heckman, its former Chief Executive Officer, Roundtable Media, L.L.C., net revenue share amounts of $66 and $107, respectively, in connection with a partner agreement. For the three months ended March 31, 2022, the Company paid consulting fees of $165 in connection with a consulting agreement, as amended from time to time.

 

Repurchases of Restricted Stock

 

On December 15, 2020, the Company entered into an amendment for certain restricted stock awards and units that were previously issued to certain employees in connection with the HubPages merger, pursuant to which the Company agreed to repurchase from certain key personnel of HubPages, Inc., including Paul Edmondson, one of the Company’s officers, and his spouse, an aggregate of 764 shares of the Company’s common stock at a price of $88.00 per share each month for a period of 24 months, for aggregate proceeds to Mr. Edmondson and his spouse of $67 per month. For the three months ended March 31, 2022, the Company paid Mr. Edmonson and his spouse $269 for 3,056 shares of the Company’s common stock.