XML 30 R23.htm IDEA: XBRL DOCUMENT v3.25.4
SHAREHOLDERS' EQUITY
 9 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY

NOTE 15 — SHAREHOLDERS’ EQUITY

Reverse Stock Split

On August 22, 2025, Orion enacted a 1-for-10 reverse stock split in order to remain compliant with the Minimum Bid Price Rule. The par value was not adjusted for the reverse stock split. All share and per share data have been adjusted for all periods presented to reflect the reverse stock split.

Employee Stock Purchase Plan

In August 2010, Orion’s board of directors approved a non-compensatory employee stock purchase plan, or “ESPP”. In the three months ended December 31, 2025, Orion issued 10 shares under the ESPP plan at a closing market price of $15.38. In the three months ended December 31, 2024, Orion issued 54 shares under the ESPP plan at a closing market price of $8.00.

Sale of Shares

In March 2023, Orion filed a shelf registration statement with the Securities and Exchange Commission. Under the shelf registration statement, Orion currently has the flexibility to publicly offer and sell from time to time up to $100 million of debt and/or equity securities, subject to regulatory limitations. The filing of the shelf registration statement may help facilitate Orion’s ability to raise public equity or debt capital to expand existing businesses, fund potential acquisitions, invest in other growth opportunities, repay existing debt, or for other general corporate purposes. See Note 19 - Subsequent Events.