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Long-term Debt (Tables) | 3 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Summary of Debt Disclosure | Long-term debt consisted of the following at the end of each period presented.
|  | September 30, |  |  | June 30, |
|  | 2023 |  |  | 2023 |
|  | (in thousands) |
Convertible note |  | $ | 63,561 |  |  | $ | 61,710 |
Vehicle notes payable |  |  | 138 |  |  |  | 148 |
Total debt |  |  | 63,699 |  |  |  | 61,858 |
Current portion of debt |  |  | 41 |  |  |  | 40 |
Long-term debt |  |  | 63,658 |  |  |  | 61,818 |
Unamortized convertible note discount — embedded conversion feature |  |  | (19,447 | ) |  |  | (20,691 | )
Unamortized debt issuance costs - convertible note |  |  | (3,248 | ) |  |  | (3,456 | )
Long-term debt, net |  | $ | 40,963 |  |  | $ | 37,671 |
Summary of Interest Expense | Interest expense consisted of the following.
|  | Three months ended September 30, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Convertible note interest |  | $ | 940 |  |  | $ | 269 |
Vehicle notes payable interest |  |  | 1 |  |  |  | 2 |
Amortization of debt issuance costs and discount — convertible note |  |  | 1,452 |  |  |  | 550 |
Other interest |  |  | 18 |  |  |  | — |
Gross interest expense |  |  | 2,411 |  |  |  | 821 |
Less: amount capitalized to construction in progress |  |  | 624 |  |  |  | — |
Interest expense, net of amounts capitalized |  | $ | 1,787 |  |  | $ | 821 |
Effective interest rate — convertible note |  |  | 23.2 | % |  |  | 23.4 | %
Summary of Fair Value Information for Convertible Instrument | Fair value information for the Convertible Note and Convertible Note Derivative follows.
|  | September 30, |  |  | June 30, |
|  | 2023 |  |  | 2023 |
|  | (in thousands) |
Fair value of convertible note (Level 2) |  | $ | 42,273 |  |  | $ | 40,316 |
Total fair value of convertible note instrument |  | $ | 42,273 |  |  | $ | 40,316 |
Summary of Significant Assumptions used in Fair Value Model with Change in Volatility and Debt Rate | The significant assumptions used in the fair value model for the Convertible Note and related Convertible Note Derivative include the following, with a change in volatility and debt rate having the most significant impact on the related fair values.
|  | September 30, |  | June 30,
|  | 2023 |  | 2023
Risk-free interest rate |  | 4.8% |  | 4.4%
Volatility |  | 50.0% |  | 50.0%
Debt rate |  | 16.9% |  | 17.5%
Stock price per share |  | $2.26 |  | $3.28
On November 6, 2026, the Company entered into a standstill agreement with its Lender and holder of the Convertible Note. Refer to Notes 1 and 13 for additional information.

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