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Stockholders' Equity (Deficit)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders' Equity (Deficit) Stockholders' Equity (Deficit)
Warrants
In connection with various debt restructuring agreements entered into during the year ended December 31, 2024, the Company issued warrants to purchase an aggregate of 3.0 million shares of the Company’s common stock, including the warrants noted in Note 5 – Debt. The warrants expire four years from their date of issuance and are exercisable on a cash basis at any time before their expiration dates. The warrants are subject to adjustment for stock splits, reverse stock splits, stock dividends and similar transactions and contain customary registration rights with respect to the shares of common stock issuable upon exercise of the warrants. The warrants issued during the year ended December 31, 2024 are the only outstanding warrants as of both June 30, 2025 and December 31, 2024. As of June 30, 2025, none of the warrants have been exercised.
The number and exercise price of the warrants issued and outstanding as of June 30, 2025 are as follows:
Issuance DateNumber of Shares to Purchase with WarrantsExercise price
June 28, 2024550,000 $12.12 
July 18, 2024236,074 $13.37 
August 2, 202488,534 $11.03 
October 24, 202420,646 $12.34 
November 6, 2024180,000 $11.27 
November 6, 20241,543,363 $12.12 
November 6, 202429,687 $12.34 
November 6, 2024370,000 $15.77 
Total3,018,304 
Preferred Stock
The Company has a total of 2,000,000 shares of preferred stock authorized for issuance at a par value of $0.001 per share, 150,000 of which have been designated Series D Preferred Stock and 39,500 of which have been designated Series E Preferred Stock. As of June 30, 2025 and December 31, 2024, the Company had 25,000 shares of Series E preferred stock issued and outstanding. Dividends declared, but not paid, related to the Series E Preferred Stock resulted in $15.1 million and $13.4 million of dividends accrued, approximating $605.59 and $535.71 per preferred share, as of June 30, 2025 and December 31, 2024, respectively. The aggregate liquidation preference of the issued and outstanding shares of Series E Preferred Stock as of June 30, 2025 was $40.1 million.