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Stockholders’ Deficiency | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Stockholders’ Deficiency | Stockholders’ Deficiency Common Stock The Company has the authority to issue 1,000,000,000 shares of common stock, $0.01 par value per share. Restricted Stock Units – The Company issued, in connection with the vesting of restricted stock units,4,999 and 68,975 shares of the Company’s common stock during the three months ended June 30, 2025 and 2024, respectively, as reflected on the condensed consolidated statements of stockholders’ deficiency. The Company issued, in connection with the vesting of restricted stock units, 12,498 and 747,140 shares of the Company’s common stock during the six months ended June 30, 2025 and 2024, respectively, as reflected on the condensed consolidated statements of stockholders’ deficiency. Common Stock Withheld – The Company recorded the repurchase of 2,061 shares related to vested restricted common stock for the payment for taxes of $12 during the three months ended June 30, 2025, and the repurchase of 8,606 shares related to vested restricted common stock for the payment for taxes of $7 during the three months ended June 30, 2024, as reflected on the consolidated statements of stockholders’ deficiency. The Company recorded the repurchase of 4,875 shares related to vested restricted common stock for the payment for taxes of $16 during the six months ended June 30, 2025, and the repurchase of 290,777 shares related to vested restricted common stock for the payment for taxes of $486 during the six months ended June 30, 2024, as reflected on the consolidated statements of stockholders’ deficiency. Common Stock Purchase Agreement – On August 19, 2024, in connection with the Amended Promissory Note, the Company and Simplify entered into a Common Stock Purchase Agreement, where $15,000 of outstanding indebtedness under the March 13, 2024 Simplify Loan was exchanged for 17,797,817 shares of the Company’s common stock at a purchase price of approximately 0.84 per share, based on a 60-day volume weighted-average price of the Company’s common stock, as reflected on the condensed consolidated statements of stockholders’ deficiency. Further information is provided in Note 17. Common Stock Private Placement – On February 14, 2024, the Company entered into a subscription agreement (the “Subscription Agreement”) with Simplify, pursuant to which the Company agreed to sell and issue to Simplify in a private placement (the “Private Placement”) an aggregate of 5,555,555 shares (the “Private Placement Shares”) of the Company’s common stock, at a purchase price of $2.16 per share, a price equal to the 60-day volume weighted average price of the Company’s common stock. The Private Placement closed on February 14, 2024 and the Company received proceeds from the Private Placement of $12,000 as reflected on the condensed consolidated statements of stockholders’ deficiency. The proceeds were used for working capital and general corporate purposes. Further information is provided in Note 17.

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