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Subsequent Event - Additional Information (Details) - Senior Convertible Promissory Note - Lind Global Asset Management IX LLC $ / shares in Units, $ in Millions | Aug. 04, 2024 USD ($) $ / shares
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Subsequent Event [Line Items] |
Face value of initial note | $ | $ 4.2
Note issuance date | Aug. 07, 2024
Debt instrument, convertible conversion price | $ / shares | $ 2.44
Notes repayment terms | Commencing on the date that is one hundred twenty (120) days after the issuance of the applicable Note, provided that no Event of Default (as defined in each of the Notes and further described below) shall have occurred, the Company will repay the Outstanding Principal Amount of such Note in twenty (20) consecutive monthly installments of $210 thousand (the “Monthly Payments”) on each one (1) month anniversary of the issuance date, until the Outstanding Principal Amount of such Note has been paid in full on or prior to the applicable Maturity Date or, if earlier, upon acceleration, repayment, conversion or redemption of such Note in accordance with its terms. At the Company’s option, each month, the Monthly Payments can be made in: (i) cash; (ii) shares of the Common Stock (the “Repayment Shares”); or (iii) a combination of cash and Repayment Shares; provided, that the number of Repayment Shares to be delivered in accordance with clause (ii) or (iii) shall be determined by dividing (X) the portion of the Principal Amount being paid in shares of Common Stock, by (Y) ninety percent (90%) of the average of the five (5) lowest daily VWAPs during the twenty (20) trading days prior to the applicable payment date; provided, further, that no portion of the Principal Amount may be paid in Repayment Shares unless such Repayment Shares (A) may be immediately resold pursuant to Rule 144 (“Rule 144”) under the Securities Act of 1933, as amended (the “1933 Act”), by a person that is not an affiliate of the Company, or (B) are registered for resale under the 1933 Act and the Registration Statement (defined below) is in effect and lawfully usable to effect immediate sales of such Repayment Shares. If the Company makes a Monthly Payment in cash, the Company must also pay Lind a 4% premium of such Monthly Payment and such premium will not be applied towards the Outstanding Principal Amount. Furthermore, with respect to no more than two (2) Monthly Payments, Lind may elect to increase the amount of such Monthly Payment up to $800 thousand; provided that any such increased Monthly Payment is made in Repayment Shares. Following any such increased Monthly Payment, the amount of such increase shall be deducted from the amount of the last Monthly Payment owing under such Note until such Monthly Payment is reduced to zero.
Debt instrument repayment premium percentage | 4.00%
Minimum |
Subsequent Event [Line Items] |
Debt instrument, convertible conversion price | $ / shares | $ 0.39
Debt Instrument, convertible percentage of stock | 19.99%
Maximum |
Subsequent Event [Line Items] |
Debt Instrument, convertible percentage of stock | 30.00%
Subsequent Note |
Subsequent Event [Line Items] |
Face value of initial note | $ | $ 1.8

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