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Note 12 - Fair Value Measurements - Summary of Level 3 Changes (Details) - Derivative Financial Instruments, Liabilities [Member] - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Balance $ 12,745 $ 6,403
Issued (1) [1] 12,349 [2] 5,148
Settlements (1) (463) [3] (2,810) [1]
Included in earnings 1,703 4,004
Balance $ 26,334 $ 12,745
[1] Primarily relates to warrants to purchase 2,173,912 common shares issued with the Company’s June 2023 equity financing that were exercised in June 2024. The warrants were converted into 367,478 shares of common stock (“Settlements”) and 1,806,434 prefunded warrants to purchase shares of common stock with an exercise price of $0.0001 per share (“Issued”). See Note 14 - Stockholders’ Equity and Note 16 - Warrants for further detail.
[2] Relates to the June 2025 issuance of 8,233,332 prefunded warrants at a public offering price of $1.4999 to purchase 8,233,332 shares of the Company’s common stock at an exercise price of $0.0001 per share (the “June 2025 Prefunded Warrants”). See Note 14 - Stockholders’ Equity and Note 16 - Warrants for further detail.
[3] Relates to the exercise of 176,000 of prefunded warrants during the first quarter of fiscal 2025, which were liability classified and exercised at a price of $0.0001 per share.