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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2026
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS |
18. | SUBSEQUENT EVENTS
On July 22, 2026, the Company entered into a Securities Account Control Agreement and a Securities Account Pledge Agreement with Citizens, as administrative agent, in connection with 4.3 million shares of the Company’s common stock owned by its Executive Chairman Mahmud Haq and two trusts, one controlled by Mr. Haq and the other one controlled by his wife. Also on July 22, 2026, in connection with the Credit Facility, the Company issued a warrant to the Executive Chairman (the “Warrant”) to purchase up to 4.3 million shares of the Company’s common stock at an exercise price of $5.00 per share, with a term of five years. The Warrant vests over time on an accelerated basis through June 2027 and may be exercised on a cash or net share settlement basis. The Warrant has customary anti-dilution provisions. The Warrant is in consideration for pledging certain Company common stock as collateral for the Company’s obligations under the Credit Facility. The shares issuable upon exercise of the Warrant have not been registered under the Securities Act of 1933, as amended, and are subject to customary transfer restrictions.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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