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Mezzanine Equity (Tables)

3 Months Ended

Mar. 31, 2025

Mezzanine Equity

Schedule of Changes in Mezzanine Equity

The following table presents the changes in the Company’s mezzanine equity during the three months ended March 31, 2025:

Schedule of Changes in Mezzanine Equity

		Series F Preferred Stock
		Shares				Amount
						(In thousands)
Balance as of January 1, 2025			—			$	—
Issuance of Series F Preferred Stock			148,250				148,250
Issuance costs			—				(8,011	)
Adjustment to fair value at issuance date			—				(41,465	)
Conversion of Series F Preferred Stock			(1,000	)			(666	)
Adjustment to maximum redemption value			—				90,173
Balance as of March 31, 2025			147,250			$	188,281

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- References

No definition available.

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- Definition

Tabular disclosure of 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. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ 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
-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

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