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Restructuring Charges
3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Charges
(18) Restructuring Charges
From August 12, 2024 through December 31, 2024, the Company developed a plan for a restructuring of certain aspects of its operations and organization (the “Reorganization Plan”). The Reorganization Plan included the entry into the Termination Agreement, the termination and settlement of the TRA, a reduction in force, an issuance of securities to One Planet Group, the appointment of a new CEO and new members of the Company’s Board of Directors, and other cost savings initiatives along with a review of expenses and business processes.
The Company incurred $6.4 million restructuring charges from August 12, 2024 through December 31, 2024 that consisted of $2.0 million cash restructuring charges and $4.4 million non-cash restructuring charges. Through March 31, 2025, the Company made no payments of cash restructuring charges in connection with the Reorganization Plan and the remaining unpaid restructuring charges were $0.4 million as of March 31, 2025 and are included in accounts payable and accrued liabilities within the Company's Condensed Consolidated Balance Sheet.
As part of the Termination Agreement, the Company agreed to pay a termination fee of $6.6 million, subject to certain adjustments, payable in installments from August 2024 to March 2025. As of March 31, 2025, the Company has paid the
$2.6 million remaining termination fee that was owed as of December 31, 2024. See Note 8 – Leases for additional information.