XML 62 R54.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Long-Term Debt - Additional Information (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended
Jan. 09, 2023
Jan. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Debt Instrument [Line Items]        
Cash received from promissory note purchase agreement $ 50,000      
Convertible promissory note, interest rate 5.00%      
Convertible promissory note, maturity date     Jan. 09, 2026  
Convertible promissory note, frequency of periodic payment     interest is payable semiannually beginning July 2023.  
Convertible promissory note conversion, description     the Convertible Promissory Note may be converted at the option of the note holder into the Company’s common stock or an equivalent equity instrument resulting from a public company event. The conversion price is based on a pre-money valuation divided by the aggregate number of the Company’s outstanding shares at the issuance date and adjusted for any cash dividends paid on the Company’s capital stock. The conversion price and number of conversion shares are subject to standard anti-dilution adjustments. Upon a change of control event the note holder may (i) convert the Convertible Promissory Note immediately prior to the event into the Company’s common stock at a conversion price equal to the lesser of the Convertible Promissory Note’s original conversion price or the price per share of the Company’s common stock implied by the change of control event transaction agreement or (ii) require the redemption of the Convertible Promissory Note in cash, including the payment of a make-whole amount of all unpaid interest that would have otherwise been payable had the Convertible Promissory Note remained outstanding through the maturity date.  
Accrued interest     $ 600  
Debt discount     23,500  
Amortization of debt issuance cost interest expense     $ 2,200 $ 47,000
Note purchase agreement default description     The Note Purchase Agreement defines events of default as the occurrence of any one of the following; 1) a default in payment of any part of principal or unpaid accrued interest on the Convertible Promissory Note when due and payable; 2) the Company issues a written statement that it is unable to pay its debts as they become due, or the Company files a voluntary petition for bankruptcy or insolvency proceeding, the Company, or its directors or majority shareholders take action looking to the dissolution or liquidation of the Company; 3) the involuntary bankruptcy of the Company defined as the commencement of any proceeding against the Company seeking any bankruptcy reorganization; 4) the Company defaults on any of its performance obligations under the Note Purchase Agreement; 5) any material portion of the assets of the Company or any subsidiary of the Company is seized or a levy is filed against such assets; 6) a default that remains uncured on any other agreement evidencing the indebtedness of the Company or its subsidiaries for an amount of $10 million or more whose terms allow for the acceleration of the repayment of such indebtedness due to the consummation of the transactions contemplated in this Note Purchase Agreement.  
Debt default amount uncured     $ 10,000  
Repayment of from Series 2022-1 Notes       $ (20,833)
Series 2022-1 Notes        
Debt Instrument [Line Items]        
Unamortized debt issuance costs   $ 200    
Repayment of from Series 2022-1 Notes   $ 25,000    
Debt fixed interest rate   5.50%